Why Macau could be the richest city in the world

The gambling industry has become one of the main vectors of development of the Chinese city of Macau. According to forecasts, already in 2020 Qatar may give up its title of the richest city in the world in favor of Macau.

This conclusion was reached by analysts from Bloomberg, based on information from the International Monetary Fund.

According to the IMF data, in comparison with 2001, Macau’s GDP has grown almost threefold (then the figure was fixed at 34.5 thousand dollars). And given the active growth of the region’s economy, in relation to 2020, it will be possible to talk about a figure of about 143, 1 thousand per person. In Qatar, 139.1 thousand dollars are per capita.

According to financial market experts, the GDP gap between these two cities will continue to grow. In 2023, Macau may even reach the $ 172.7 thousand mark.

Of course, financial experts in this matter refer to the income that the region receives through the development of the casino industry. Its gross profit and last year was estimated at $ 33 billion, which is 19% higher than it was in 2016.

Specialists from Morgan Stanley Asia Ltd also believe that the potential of the Macau gambling market has not yet been exhausted. The highest figures are yet to come.

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