Macau: 25 years of change

Ambitious expansion

Many of Macau's most notable casinos and resorts have been built on reclaimed land. The city's total land area grew a staggering 39.9 per cent over the past quarter century. The ambitious reclamation projects, mainly in Coloane, have spurred explosive economic development despite concerns about the ecological impact.

Population growth

Macau’s population has grown by 59 per cent over the past 25 years, largely because of an influx of workers from mainland China. In 2023, one in four of Macau’s 683,700 population were foreign workers. And they represent more than 40 per cent of the total workforce.

Changes in population

Tourism boom

As the only Chinese city where casino gambling is legal, Macau has become a popular destination for mainland tourists. Beijing’s support of Macau’s tourism-led services industry also accelerated growth. Since 2004, mainland tourists have outnumbered non-mainland visitors, peaking at 27.9 million in 2019. They now make up about 70 per cent of total visitors.

Tourist changes since 1999

Economic miracle

Macau’s gross domestic product (GDP) per capita is higher than that of mainland cities. Its residents have enjoyed annual handouts of 5,000 to 10,000 patacas since 2008, thanks to the flourishing gaming industry. In 2013, gross revenue from gambling peaked at 360 billion patacas, nearly eight times that of the Las Vegas Strip that year and contributing 88 per cent of Macau's GDP.

But an anti-corruption campaign initiated by Beijing in 2015 deterred high-stakes gamblers, affecting gaming revenues ever since. The city’s reliance on the gambling sector also takes a heavy toll on society, prompting Beijing to ask Macau to “promote an optimal degree of industrial diversification” in its 11th five-year plan.

Gaming as percentage of Macau industries

Macau's "1+4" industry development strategy

In 2023, Macau introduced a “1+4” diversification strategy to grow the city beyond gaming. The strategy aims to boost Macau’s function as “one centre” for integrated tourism and leisure, while four nascent industries should be further developed to help the economy become more resilient.

Gambling: breaking monopoly and evolving

For decades, Macau's gambling industry operated under a monopoly, with 300 gaming tables recorded in 1999. The year 2002 was a turning point as the government introduced competition, breaking the monopoly of the casino empire built by “gambling king” Stanley Ho Hung-sun.

Since then, the number of gaming tables has skyrocketed, peaking at 6,739 in 2019 before the pandemic. In 2022, six casino operators secured new 10-year concessions, three of which are still owned by the Ho family.

The six casino operators in Macau

Number of gaming tables in Macau from 1999 to 2023