Up by 18 percent in 2013 to USD 91,307
Gambling revenues boost Macau GDP
2014-07-03
Reading time 39 seg
(Macau).- Macau has superseded Switzerland as the world's fourth richest territory per person according to figures from the World Bank. Revenues from gambling tourism from China drove gross domestic product per head up by 18 percent in 2013 to USD 91,307. It overtook Switzerland, where GDP per capita rose by 2 percent in 2013 to USD 80,532.
Luxembourg, Norway and Qatar retained the top three slots with the United States placed 10th with GDP per capita at USD 53,542. Macau had a population of just 566,400 in 2013 but GDP totalled US$ 51.7 billion thanks to gaming revenues that are six times those in Las Vegas. However, amid a crackdown on corruption among China's government officials by president Xi Jinping, the gaming industry in the region is diversifying in an attempt to create a more family friendly, longer stay tourist destination.
Currently about half of all visitors stay for just 24 hours utilising Macau's 30 casinos, including the world's largest, the Venetian Macau.
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