Macau economy could grow 13 % in 2012/13
The projections included in the report point to real growth of 12 % in 2012 and 14 % in 2013, which is less than the 22 % projected for this year, and a slight rise in gross fixed capital formation (investment) from 8.5 % this year to 8.9 % in 2012 and 10 % in 2013.
The inflation rate, according to the report, is expected to see a sharp fall to 3.6 % in 2012 and 4.3 % in 2013, against an expected rate of inflation of 6.1 % this year.
According to the document, the drop in real domestic product growth will be due to a slight cooling of the Chinese economy, which in 2012 is expected to grow by just 8.2 % before returning to greater growth in 2013.
One of the risks for the Macau economy could, according to the EIU, be increasing competition from casinos in other Asian cities, such as Singapore where two huge tourist resorts – the Marina Bay Sands and Resorts World Sentosa – , including hotels, entertainment and gambling and which cost us$ 10 billion.
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