The positive impacts of gaming slowdown

The decline in the city’s gaming revenue is expected to last for at least another six months, according to analysts. However, economists and scholars argue that the decline might usher in economic diversification, which will have a positive impact on other industries.
Chang Chak Io, vice president of the Macau Economic Association, told TDM that the current gaming situation would actually bring potential diversification and development to other industries.
“If the need for employees is lessened, especially in regards to young adults choosing jobs in this field, will we focus on gaming industry jobs? And will it cause young adults to consider working in other industries?” he questioned.
The vice-president of the Macau Gaming Industry Workers Association, Leong Sun Iok, echoed Chang’s remarks, saying that after July, new sectors may be impacted.
“After July, the adjustment period will probably come to an end. The main goal for the government is to combine job training and job matching to help employees to develop skills and reduce their unemployment chances,” he said.
The territory last month suffered a record 48.6 pct slump in gross gaming revenue year-on-year. The fall is expected to continue for at least another six months.