Macau 2018 growth forecast at 5.8%

The Macau economy is expected to grow 5.8% for this year, followed by 3.9% growth in 2019, according to a report by the Economist Intelligence Unit (EIU).

News outlet The Macau Hub reported on the EIU’s forecast that the special administrative region’s growth in gross domestic product (GDP) will continue to be fueled by the gaming sector, which itself has seen below-expected gross gaming revenue (GGR) the past year.

Macau’s Statistics and Census Service (DSEC) had previously released data for the first half of the year, showing 7.6% GDP growth year on year.

The EIU said that the Macau government’s attempts at diversifying the economy outside of gambling would remain largely unsuccessful. However, according to the EIU, the government should continue working to grow its non-gambling tourism activities to boost the entertainment sector.