IMF expects Macau GDP to rise 13.9% in 2024

The International Monetary Fund expects a continued recovery in gaming.

Macau.- The International Monetary Fund (IMF) has forecast a 13.9 per cent rise in Macau’s gross domestic product (GDP) for the current year amid the ongoing recovery in the gaming sector and new private investment.

The financial evaluation, released after a delegation visited the city from February 21 to March 6, forecasts that GDP will surpass pre-pandemic levels by 2025. The IMF predicts a 3 per cent growth rate in the medium term.

In 2023, Macau’s GDP rose 80.5 per cent year-on-year in real terms. That represents a recovery to over 80 per cent of 2019 levels, before the Covid-19 pandemic. Per-capita GDP for 2023 reached MOP559,495 (US$69,393).

Macau’s gross gaming revenue (GGR) for February was MOP18.49bn (US$2.29bn). That’s a drop of 4.4 per cent month-on-month but up 79.1 per cent when compared to last February. Cumulatively, Macau’s GGR for the first two months of 2024 was MOP37.82bn, up 72.7 per cent from the prior-year period.

The International Monetary Fund expects a continued recovery in gaming. Macau.- The International Monetary Fund (IMF) has forecast a 13.9 per cent rise in Macau’s gross domestic product (GDP) for the current…