Sectors Economy_of_Macau

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1 sectors

1.1 tourism , gambling
1.2 manufacturing
1.3 banking
1.4 construction
1.5 transportation companies
1.6 media





sectors
tourism , gambling


macau tower @ night.



tourism backbone of macau s economy, , of geared towards gambling, legalised in 19th century , has since been linchpin of economy , important source of revenue government. 1962, gambling industry operated under government-issued monopoly licence stanley ho s sociedade de turismo e diversões de macau (stdm), replaced tai heng entertainment corporation had held gaming monopoly previous 24 years. in 1990s macau had 9 casinos , gambling reportedly represented 20 25% of macau s gdp. monopoly ended in 2001 when gaming industry liberalised , several casino operators las vegas entered market. these new operators include las vegas sands, opened sands macao [1], largest casino in world measured total number of table games, in 2004 , venetian macau [2] in 2007; wynn resorts, opened wynn macau [3] in 2006; , mgm mirage, opened mgm grand macau in 2007.


in addition, other casino owners, including australian crown casino , hong kong galaxy entertainment group [4] have opened several hotel casinos in macau. result of surge in number of casinos , construction other new casino entrants, macau s economy has been growing rapidly in recent years. gaming revenues macau s casinos greater of las vegas strip, making macau highest-volume gambling center in world. numerous other hotel casinos, including galaxy cotai megaresort , ponte 16, opened in near future.



casino lisboa



the interior of venetian macao


due opening of new hotel casinos , china s easing of travel restrictions, there has been rapid rise in number of mainland visitors. 9.1 million visitors in 2000, arrivals macau has grown 18.7 million visitors in 2005 , 22 million visitors in 2006, on 50% of arrivals coming mainland china , 30% hong kong. macau expected receive between 24 , 25 million visitors in 2007. macau received future award 2007, voted 26,000 german travel trade members of goasia, being regarded promising future tourism destination in asia. macau rated 1 of world s top tourism destinations world tourism organisation.


manufacturing

macau s manufacturing industries emerged in first few decades of 20th century, consisted of junk building, factories matches, firecrackers , incense. modern industries, however, did not take off until 1970s when textiles , garments industry rising rapidly, while other light industries such plastics, electronics, toys, , artificial flowers experienced respectable growth. textiles , garments further increased dominance in manufacturing sector towards end of 1980s.


much of macau s textile industry has moved mainland multi-fiber agreement phased out. territory has relied more on gambling , tourism-related services generate growth.


banking

macau offshore financial centre, tax haven, , free port no foreign exchange control regimes. offshore finance business regulated , supervised monetary authority of macao, while regulation , supervision of offshore non-finance business controlled macau trade , investment promotion institute. in 2007, moody s investors service upgraded macau s foreign , local currency government issuer ratings aa3 a1 , citing government s solid finances large net creditor. rating agency upgraded macau s foreign currency bank deposit ceiling aa3 a1 .


there twenty other licensed banks, sixteen of foreign. macau has 5 of top 500 commercial banks in asia, including banco tai fung , industrial , commercial bank of china.


construction

ponte 16 under construction


in 2014, construction sectors in macau engaged 45,368 people. value of construction mop78.15 billion, in mop66.88 billion belong private sectors. intermediate consumption mop61.03 billion , labor cost mop11.35 billion.


transportation companies

air macau, island s airline, headquartered in macau.


media

macau has reportedly highest media density in world - 9 chinese-language dailies, 3 portuguese-language dailies, 2 english-language dailies , half dozen chinese-language weeklies , 1 portuguese-language weekly. 2 dozen newspapers hong kong, mainland china, taiwan , philippines shipped macau every morning.


ignite media group enclave s dominant media company.








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