Economy posts 8% growth in Q3 on tourism surge

The local economy continued its steady recovery in the third quarter, buoyed by robust growth in the services sector and sustained tourist inflows during the summer peak season, according to preliminary data from the Statistics and Census Service (DSEC).

Gross Domestic Product (GDP) rose 8.0% year-on-year in real terms to MOP103.86 billion, representing 92.6% of output recorded in the same period of 2019.

Exports of services led the expansion, increasing 10.5% year-on-year, underpinned by a 13.6% rise in visitor arrivals. Domestic demand remained positive, with government final consumption expenditure up 2.7% and private consumption rising 0.8%.

However, investment weakened, as gross fixed capital formation fell 26.1%, reflecting declines in both private and public construction projects.

For the first three quarters of 2025, Macao’s GDP reached MOP301.33 billion, up 4.2% from the same period in 2024, equivalent to 88.4% of the level recorded in 2019.

DSEC is scheduled to release the revised GDP results for the third quarter on Nov. 14.