Macao’s casino boom brings wealth but at a cost, 25 years since China’s takeover

Associated Press

MACAO (AP) — Macao has grown from a monopoly-driven gambling enclave into the world’s biggest gaming hub, packed with Chinese tourists, since Beijing took control of the former Portuguese colony 25 years ago. However, the added wealth of the city dubbed the “Las Vegas of the East” has not brought qualities of sustainable development such as economic diversity and high civic participation. Macao’s economy grew to $46 billion in 2023 from $6.5 billion in 1999. Over the same period, its GDP per capita jumped more than fourfold to $68,000, surpassing the nearby financial hub of Hong Kong. Some critics say Macao has failed to diversify its economy, but others see signs of progress and new opportunities.