Prosperity Index to rise amid steady recovery

The Macau Economic Association expects that the local prosperity index will continue to rise steadily from July to October.

This comes after Macau’s tourism and gaming sectors have been undergoing robust recovery.

The association released the latest trend and forecast of Macau’s prosperity index, pointing out that the performance in June and July continued to be satisfactory, better than expected.

At present, the economic data of Macau shows a stable recovery trend, according to the association.

From January to July this year, the cumulative gaming revenues exceeded MOP96 billion, reaching 74% of the government’s gross gaming revenue expectations for this year.

Inbound and outbound tourism in Macau has peaked since the summer vacation, and there will be more events and festivals in the second half of the year, which is expected to further boost the local tourism industry.

Last month, the association estimated the rise of the city’s GDP for the first half of the year is 70% year-on-year.

Despite the significant increase, the aforementioned GDP figure will still represent only about 65% of the average GDP recorded from 2017 to 2019, the association added.

Moreover, due to the abnormally low GDP in the second quarter of last year, the figure for the same period this year will see a 110% increase, the association previously estimated.

Staff Reporter