Macau’s GDP rises 26.2 percent in 2010

28 March 2011

Macau, China, 28 March – Macau’s Gross Domestic Product (GDP) posted real growth of 26.2 percent in 2010, with per capita GDP totalling 398,071 patacas (around US$49,745), the Statistics and Census Bureau (DSEC) said in Macau Friday.

According to DSEC, the rise in GDP was due to the satisfactory performance of the tourism and gaming sector, to substantial rises in gross gaming revenues and total visitor spending, slower deceleration in gross fixed capital formation and exports of goods, which were felt as a result of the driving force of the world economy and notable economic growth seen in China.

DSEC noted that in 2010 gross gaming and gambling revenues (excluding tips) rose by 57.5 percent against 2009, that the total number of visitors rose by 14.8 percent and the total number of overnight visitors rose 15.5 percent, the average hotel occupation rate rose by 8.43 percentage points and the average visitor stay was 1.54 nights, which is the equivalent of an increase of 0.04 nights as compared to 2009 and that the turnover at retail outlets also grew.

In the fourth quarter of 2010, Macau’s GDP posted growth of 27.9 percent year on year, and the figures for the second and third quarters were increased from 31.5 percent and 27.1 percent, to 31.7 percent and 27.4 percent, in real terms, respectively.

In its turn the implicit price deflator for GDP in 2010 posted a rise of 4.1 percent against 2009. (macauhub)