Macau has been seeking to become less reliant on the casino sector for some time, however, the latest budget shows that the process will be slow going.
The information was found within the government’s latest budget by the current government, presented at the Macau Legislative Assembly this week.
The forecasts, however, will be rectified again in March by the next chief executive, Ho Iat Seng, who is set to take office on Friday.
In a 2018 Analysis Report of Statistical Indicator System for Moderate Economic Diversification of Macau, the casino sector had an industrial share of 50.5%, dwarfing the contribution of any other individual segment of the Macau economy, including real estate, construction, wholesale, retail trade, financial services, hotels and hospitality, public administration, and “renting and business activities”, which make up in total, 32% of the industrial structure.
Source: GMB / AG Brief
