Macau Chief Keeps Close Watch on Non-Gaming Investments
HighlightsÂ
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Macau chief executive Sam Hou Fai says he will continue to monitor non-gaming investments.
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The government aims to have non-generating activities constitute 60% of the GDP by 2028.Â
The chief executive, Sam Hou Fai, during his second policy address, has again reassured that he will actively monitor the non-gaming investments of the Big Six casino concessionaires.Â
The non-gaming investments are expected to reach a total of US$16 billion by 2032. The agenda is to boost the local economy in Macau and reduce dependence on gambling revenue. It has now devoted itself to the growth of the medical, technical, finance and events sectors by incorporating a 1+4 development strategy.Â
These combined performances can help raise the standards of the hospitality industry and promote Macau as a global tourism destination. The country has set a target to make non-gaming attractions account for 60% of the GDP by 2028.Â
Sam stated that economies heavily reliant on a single industry are more vulnerable to major global changes. He further said  Macau would progress quickly by “cultivating internationally competitive new industries [and] effectively implementing the ‘1+4’ objectives”.Â
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The non-gaming investments are expected to reach a total of US$16 billion by 2032. The agenda is to boost the local economy in Macau and reduce dependence on gambling revenue. It has now devoted itself to the growth of the medical, technical, finance and events sectors by incorporating a 1+4 development strategy.Â
These combined performances can help raise the standards of the hospitality industry and promote Macau as a global tourism destination. The country has set a target to make non-gaming attractions account for 60% of the GDP by 2028.Â
Sam stated that economies heavily reliant on a single industry are more vulnerable to major global changes. He further said  Macau would progress quickly by “cultivating internationally competitive new industries [and] effectively implementing the ‘1+4’ objectives”.Â
To gain more insights, Read Here!
