In 2018, gaming activity in Macau contributed helped the city see an increase in tax revenue of 14%. $13.21 billion in taxes was collected from gaming operations and this ultimately led to a slight uptick in Macau’s gross domestic product (GDP). According to a report by Macau’s Statistics and Census Service from yesterday, the GDP rose 4.7% year-on-year, the second consecutive year for increased GDP in the city. Macau closed the year with a GDP of $54.46 billion.
According to the bureau, Macau’s economic growth was boosted by exports of services, which includes gaming services, as well as by private consumption. Gaming is included in exports of services as a means to calculate tourist spending in the city and this category increased 6.7% last year over 2017.
Exports of goods also increased, rising 10.2%, and tourism services saw a 1.4% increase.
Domestic demand hasn’t seen any positive movement. Investments were down 14.3% last year, while government expenditures, imports of goods and private consumption saw a slight uptick of 3.4%, 2.3% and 2.8%, respectively.