How rich is Macau? A million dollars in savings per capita, the richest city in Asia

December 20, 2024 marks the 25th anniversary of Macau's return to the motherland, which took place on December 20, 1999, when Macau was officially returned to the motherland.

After 25 years of development, Macau has jumped from a small, silent and cold seaside city to the richest city per capita in Asia.

Repeated economic miracles

Before the handover, Macao's infrastructure was lagging behind.

Today.The light rail shuttles between the urban areas, the high-grade highways are well-connected, the cross-sea bridges are majestic, and landmarks such as the Tourist Tower and the Sino-Portuguese Complex are lined up.

They not only constitute the new landscape of Macau, but also witness the development and prosperity of the city.

At the beginning of the reunification, Macao's GDP was MOP 51.9 billion (MOP 1 = RMB 0.90), and in 2023 it has grown to nearly MOP 379.5 billion.More than sevenfold increase.

At the end of 2023, the total deposits of Macao residents exceeded MOP 700 billion, an increase of more than eight times compared to 1999.Macau currently has a population of about 700,000 people with a per capita deposit of about MOP 1 million.

In 25 years, Macau has jumped from a small, silent and cold seaside city to the richest city per capita in Asia.

According to Forbes magazine's list of the richest countries and territories for the year 2024.Macau ranks second in the world with a real GDP per capita of US$134,000.

It can be said that in Macau, a city with a land area of only 33.3 square kilometers, one economic miracle after another has been achieved.

Leisure tourismIt has become the core driver of Macau's economic growth.

In 1999, only 7 million tourists visited Australia.

As of December 7, 2024Visitor arrivals to Australia have reached 32.545 million for the year.Of these, about 18.22 million travelers came from the Mainland.

Nowadays, Macau is one of the cities with the highest concentration of World Heritage Sites in the world and is focusing on becoming a world center of tourism and leisure. In the first quarter 2024 survey of the China Tourism Research Institute, Macau was rated as the most satisfactory destination for outbound travelers from the Mainland.

At the same time of steady economic growth, Macao is gradually getting rid of the "monopoly" of gaming, and its development is taking more solid and powerful steps.

The numbers are the strongest proof:The non-gaming sector's share of Macau's GDP is gradually increasing, and by 2023 it will have exceeded 60%.

As a highly open, externally-oriented micro-economy with a lack of resources, Macao has, over the past 25 years since its return to the motherland, strided into the forefront of the world's major economic indicators, greatly improved people's well-being, created"The Miracle of Macau"The

pass (a bill or inspection etc)Hengqin Cooperation Zone (i.e. near Shanghai)cap (a poem)Greater Bay Area ConstructionIn addition, Macao is expected to achieve a breakthrough in economic integration and sustainable development.

Twenty-five years on, Macao has become a better place and a successful example of the development of "one country, two systems". In the future, Macao will certainly be able to create an even better tomorrow!

Hop Fung Group congratulates Macau on the 25th anniversary of its return to the motherland and the blooming of the Lotus in full bloom!