Tourism and Economic Growth in Macau

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Tourism and economic growth in Macau

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Macao is small in both size and population. Macao,consisting of Macao Peninsula, Taipa and Coloane, covers

29.2 sq. km with about 550,000 residents. In the run-up tothe handover of Macao.

The tourism and gaming industry, a general term for tourism, hotels, catering, retails and gaming, is a major driving force for Macao¶s economy.

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With a history dating back to the mid 19th century, gaming is one of the oldestindustries in Macao.

The Macao special Administrative Region (SAR) Government liberalized the

gaming industry and granted concessions to three gaming operators including aHong Kong company and a casino operator from Las Vegas in 2002. They wereallowed to sign sub-concessions with some other casino operators which broughtin more investors.

This has brought huge investments in new casino and hotel projects. At present,

there are 31 casinos operating by 6 concessionaires. Macao relies heavily on Chinese tourists to support its gaming and tourism

industries. The tightened issues of visa to mainland residents due to the over-heating of the Macao¶s economy in 2008.

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Tourism

is the most important sector of Macau economy

providing direct employment (such as in hotels and restaurants)

tourist destination for business people and other travelers due to itsfamous gambling facilities.

promotes itself as a "dream come true," offering 24-hour gambling

services, a multicultural environment, exotic festivals, and tax-freeshopping (most items are 50 percent cheaper than in Hong Kong).

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Most visitors come for a short stay, Most visitors come for a

short stay, arriving from Hong Kong, China, Taiwan, and Japan.

23 million visitors came to Macao in 2008. The majority of tourists came from Mainland China (51% of total), HongKong(31% of total) and Taiwan (5.7% of total). Excluding the

spending in gaming, the spending per visitor was about US$216. The tourists from Mainland China had the highest per-capita spending of about US$ 445.

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The number of tourists visiting the territory rose steadilythroughout the 1980s and 1990s, reaching a peak in 1996

with 8.1 million tourists. There was, however, a sharpdecline of around 15 percent in 1997 and a further 3percent in 1998, because of economic turmoil in the regionand the outbreak of gangster-style killings and bombings

on Macau's streets. In 1999 and 2000, tourism was helpedby the economic recovery in Hong Kong and Taiwan.

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Events

Macau Tower Sky Jump

ranking eighth in Asia and the world's tenth

high.

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"The House of Dancing Water " is uniquely created for City of 

Dreams by Franco Dragone, the world's most spectacular 

showmaker whose shows have been seen by over 65 million

spectators worldwide.

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Macau food festival

 A favorite 17days event among local residents and visitors

delicious Asian, European, Mainland China and local delicacies

exciting entertainment and fun for everyone

also game booths, live performances and beer competition duringthe festival.

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