Macau Urged to Diversify Economy Beyond Casinos
The Chinese government has committed to assisting Macau’s ongoing progress and evolution, especially in expanding its economic activities beyond its present dependence on casinos.
In a recent trip, Zhang Dejiang, a senior Chinese representative, stressed the importance of Macau widening its financial foundation to guarantee sustained expansion. He vowed that the national government would implement favorable measures to facilitate this objective.
One specific area Zhang emphasized was simplifying the visa application procedure for mainland Chinese tourists visiting Macau. This action aims to stimulate tourism and other industries that would profit from a rise in mainland visitors.
During his time in Macau, Zhang commended the region’s advancements since its reversion to Chinese rule in 1999. However, he recognized that Macau is at a pivotal point and must adjust to maintain its achievements.
While he did not directly address the gaming sector, it is evident that Beijing is urging Macau to move away from its reliance on gambling income. This aligns with the central government’s vision of transforming Macau into an international leisure and tourism destination.
Despite attempts to diversify, gaming continues to constitute a substantial portion of Macau’s economy. Recent data indicate that gambling revenue is still increasing, underscoring the difficulties Macau encounters in its transformation.
