The Nikkei Asian Review cover story this week is a comprehensive analysis of Macao’s economy. In 2017, the city had an estimated per capita GDP of $110,000 on a purchasing power parity basis, according to the CIA’s World Factbook, making it the wealthiest place in Asia.
Perhaps surprisingly, Macao is 1.7 times wealthier than Hong Kong, with its per capita GDP of $61,500 on a PPP basis. But while the statistics may suggest we are witnessing a miracle of economic growth, the city seems to be dangerously addicted to the gambling industry, even compared with other casino capitals like Las Vegas. The article reveals the secret of Macao’s success — as well as the dangers that overdependence on casinos pose to its future. READ MORE
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