Macau GDP grows in 2021, but still just over half of pre-pandemic levels

The GDP grew year-on-year by 17.1%, but was at a decrease of 46.2% from MOP445.5bn in 2019.

The GDP in 2020, at MOP204.4bn, was the lowest in more than a decade.

GDP per capita for 2021 came to MOP350,445.

The full-year report showed a 45% increase in gaming service exports throughout the year, as tourism continued its slow recovery from the Covid-19 pandemic.

Exports of other tourism services shot up by 127.2%.

For the fourth quarter, Macau reported a fall of 14.4% in gaming service exports, while exports of other tourism services rose by 8.9%.

Macau lifted all remaining travel restrictions for those in mainland China in February 2021.

The restrictions, along with the effects of the pandemic, saw a number of Macau-based operators, including Melco and SJM Holdings report revenue drops in their full year 2020 results.

In August the special administrative region entered a “state of immediate prevention” following new Covid-19 cases. This involved restrictions for those wishing to leave Macau, but no restrictions were introduced for casinos.

In October Macau closed a number of entertainment sites in response to nine new Covid-19 cases- however, casinos were allowed to stay open.

A new bill was introduced Macau in January this year, which could see six concessions in place for operators lasting ten years each. Sub-concessions would no longer be in place.

It passed its first reading by legislators in Macau’s parliament later that month.