New research by the International Monetary Fund projects that by 2020 Macau will overtake oil-rich Qatar as the wealthiest jurisdiction in the world as measured by per capita gross domestic product.
The IMF’s recently released “World Economic Outlook Update” pegs the Chinese casino hub currently at US$122,489, second only to the Persian Gulf state’s $128,702. But the report believes the two will be changing places soon if economic growth in Macau, derived overwhelmingly from gaming revenues, continues at its present level.
Specifically, the IMF’s forecast has Macau reaching $143,116 in per capita GDP in the next two years, outdistancing Qatar by roughly $4,000 per person.
Macau also is the most densely populated place on Earth with around 650,000 people packed into just under 12 square miles. It works out to an incredibly crowded 54,000 people per square mile.
And, not surprisingly, not everyone finds the casino-fueled GDP boom all that impressive.
As local attorney and former government advisor Sérgio Almeida Correia put it: “In terms of quality of life, green areas, pollution, education, health, sport, renewable energies, recycling of urban waste, hygiene and cleanliness of public spaces, accessibility for disabled people, road cycling, public transport (Macau) might not rank quite as high by any means.”
