Global Government Tenders

Most trusted source for Tendering Opportunities and Business Intelligence since 2002

Economy of Macau and business opportunities

Economy of Macau

The economy of Macau has remained one of the most open in the world since its handover to China in 1999. Apparel exports and gambling-related tourism are mainstays of the economy. Since Macau has little arable land and few natural resources, it depends on mainland China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods. Although Macau was hit hard by the 1997-98 Asian financial crisis and the global downturn in 2001, its economy grew approximately 13.1% annually on average between 2001 and 2006. Macau is a full Member of the World Trade Organization. Public Security has greatly improved after handover to People's Republic of China. With the tax revenue from the profitable gambling industry, the Macau government is able to introduce the social welfare program of 15 years of free education to all Macau citizens. In 2015, Macau's economy saw a sharp decrease (-26.4% year-on-year in Q2 2015) due to the reduced spending by visitors from Mainland China.

During the first three quarters of 2007, Macau registered year-on-year GDP increases of 31.4%. A rapid rise in the number of mainland visitors due to China's easing of travel restrictions, increased public works expenditures, and significant investment inflows associated with the liberalisation of Macau's gaming industry drove the five-year recovery. The budget also returned to surplus after 2002 because of the surge in visitors from China and a hike in taxes on gambling profits, which generated about 70% of government revenue.

Sectors

Tourism and gambling

Tourism is the backbone of Macau's economy, and much of it geared towards gambling, which was legalised in the 19th century and has since been the linchpin of the economy and an important source of revenue for the government. Macau is currently rated as one of the world's top tourism destinations by the World Tourism Organisation.

Manufacturing

Macau's manufacturing industries emerged in the first few decades of the 20th century, which mainly consisted of junk building, factories for matches, firecrackers and incense. Modern industries, however, did not take off until the 1970s when the textiles and garments industry was rising rapidly, while other light industries such as plastics, electronics, toys, and artificial flowers also experienced respectable growth.

Banking

Macau is an offshore financial centre, a tax haven, and a free port with no foreign exchange control regimes. The offshore finance business is regulated and supervised by the Monetary Authority of Macao, while the regulation and supervision of the offshore non-finance business is mainly controlled by the Macau Trade and Investment Promotion Institute.

Construction

In 2014, the construction sectors in Macau engaged 45,368 people. The value of construction was MOP78.15 billion, in which MOP66.88 billion belong to the private sectors. The intermediate consumption was MOP61.03 billion and labour cost was MOP11.35 billion.

Media

Macau has reportedly the highest "media density" in the world - nine Chinese-language dailies, three Portuguese-language dailies, two English-language dailies and about half a dozen Chinese-language weeklies and one Portuguese-language weekly.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Macau"

Global Tenders has one of the largest database of international and national tenders/competitive bids, procurement news, project information, contract awards, related to Macau from all over the world..

This section contains economy and business opportunities and from Macau.
Macau Economy Macanese Chinese Economy, business opportunities in Macau.

Similar tenders from other countries

Summary:
Environment, Green And Energy Policies Directorate - Fleet Management
Country:
Italy
Estimated Cost:
EUR 915000
Notice Type:
Tender Notice
Deadline:
23 May 2024
Posting Date:
23 Apr 2024
 
 
 
Summary:
Supply And Installation Of Front Brake Pads Oil Air Filter Diesel Filter Oil Filter And Cabin Filter For Citroen Jumper Vehicle In Use At The Sabaudia Training Center
Country:
Italy
 
Notice Type:
Tender Notice
Deadline:
23 Apr 2024
Posting Date:
23 Apr 2024
 
 
 
Summary:
Supply And Installation Of 2 35 Kw Boilers For The Production Of Domestic Hot Water At The Employee Center Of Excellence For Environmental Protection In Sabaudia Lt
Country:
Italy
 
Notice Type:
Tender Notice
Deadline:
23 Apr 2024
Posting Date:
23 Apr 2024
 
 
 
Summary:
Supply And Installation Of The Lighting System And Anchoring Pads Necessary For The Correct Functioning Of The Elevators Number Ri001 And Number Ri83/88 Located At The Carabinieri Forestry School In Cittaducale Ri
Country:
Italy
 
Notice Type:
Tender Notice
Deadline:
23 Apr 2024
Posting Date:
23 Apr 2024
 
 
 
Summary:
Supply And Installation Of 1 Boiler With A Capacity Of 1000 Liters For The Production Of Domestic Hot Water Serving The Di Gregorio Building Of The Carabinieri Forestry School
Country:
Italy
 
Notice Type:
Tender Notice
Deadline:
23 Apr 2024
Posting Date:
23 Apr 2024
 
 
 
Summary:
Supply And Installation Of New Upholstery And Interior Lining On Iveco 380 Hd Euroclass Bus Vehicle In Use At The Carabinieri Forestry School
Country:
Italy
 
Notice Type:
Tender Notice
Deadline:
23 Apr 2024
Posting Date:
23 Apr 2024
 
 
 
Summary:
Supply Of It Material For The Needs Of The Coeep Center Of Excellence For Environmental Protection In Sabaudia Lt
Country:
Italy
 
Notice Type:
Tender Notice
Deadline:
23 Apr 2024
Posting Date:
23 Apr 2024
 
 
 
Summary:
Supply Of Disposable Consumables For The Needs Of The Directly Managed Service Canteen Of The Carabinieri Forestry School In Cittaducale Ri Year 2024
Country:
Italy
 
Notice Type:
Tender Notice
Deadline:
23 Apr 2024
Posting Date:
23 Apr 2024
 
 
 
Summary:
Supply Of 40 Cans Of 10 Liters Each Of Adblue Additive For The Needs Of The Carabinieri Forestry School Of Cittaducale
Country:
Italy
 
Notice Type:
Tender Notice
Deadline:
23 Apr 2024
Posting Date:
23 Apr 2024
 
 
 
Summary:
Supply And Installation Of Further Additional Work On The Iveco 380 Hd Euroclass Bus Vehicle In Use At The Carabinieri Forestry School
Country:
Italy
 
Notice Type:
Tender Notice
Deadline:
23 Apr 2024
Posting Date:
23 Apr 2024
 
 
 

Key Features

  • • 50000 + notices daily
  • • Daily Email alerts
  • • Personal dashboard
  • • Website Access
  • • Weekly Excel
  • • Market Reports
  • • Analytics
  • • Customer support

Quick Links