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Macau the micro economy

Macau the micro economy. Chan Wing Yi, 09020500 Lau Ho Yee, 09003320. Near to Hong Kong one of the two special administrative regions of the People's Republic of China Special economic characteristics. Why study Macau?. Macau Area: 29.5 sq km Population: 549, 500 HK Area: 1104 sq km

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Macau the micro economy

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  1. Macauthe micro economy Chan Wing Yi, 09020500 Lau Ho Yee, 09003320

  2. Near to Hong Kong • one of the two special administrative regions of the People's Republic of China • Special economic characteristics Why study Macau?

  3. Macau • Area: 29.5 sq km • Population: 549, 500 • HK • Area: 1104 sq km • Population: 7, 061, 200 Comparison between Macau & HK

  4. HK is much more larger than Macau

  5. Macau • Unemployment rate: 2.9% • Per capita GDP (2009): 311,131 MOP = $302050.7786 HKD • GDP (2nd Quarter/2010): 54, 793.7m MOP   = $53194.57m HKD • HK • Unemployment rate: 4.9% • Per capita GDP (2009): $29,879 HKD • GDP (2nd Quarter/2010) : $415,921 m HKD Comparison between Macau & HK

  6. Low unemployment rate • Very high per capita GDP Macau’s economic performance seems to be better

  7. Government expenditures

  8. Macau provides different subsidies to her citizen • 聯合早報網訊: • Permanent residents • 澳門將連續第三年向每名永久居民發放六千元 • Non-Permanent residents • 非永久居民則有三千六百元 • Elderly • 向長者發放五千澳門元的敬老金 • Public • 向群眾發放五百元醫療券及一百五十元電費津貼

  9. Where does the money come from?

  10. Tax revenue of Macau

  11. Structure of Macau’s GDP

  12. Industry • Recreational, Cultural, Gaming & Other Services: 24.3% • Wholesale & Retail Trade: 13.4% • Occupation • Clerks (including casino dealers, floorpersons, betting service operators, etc.): 26.7% • Service & Sales Workers: 21.9% Employment structure of Macau

  13. Tax revenue of Macau

  14. Major source of Tax revenue --- gambling • Fiscal Budget Aims: • Prescribed by the Macau Basic Law • Budget: Revenue > Expenditure • Achieve a fiscal balance • keep the budget commensurate with the growth rate of its GDP  Difficult to achieve during economic recession Fiscal Budget:

  15. An alternative way for economic development • Lack of natural resources • Enhance the development of gambling-related industries e.g. Hotel industry • Create job opportunities • Attract FDI • Gambling industry is important to Macau Benefits:

  16. Low labour supply of other sectors • 華澳日報: “金沙中國在澳門的發展項目據報因為建築工人短缺，落成日期需要再次延遲” • Lower the average education level of the population • 澳門日報 : “本澳青少年受賭場高工資誘惑，年紀輕輕即入職賭場，不願意升讀大學，長遠而言勢必影響澳門人口質素” Problems

  17. Economic base is very narrow • 「澳門宣告步入衰退 賭業不容樂觀」 • Greatly affected by other economies • Number of tourist in 2007: 2699.30 (ten thousand) • In 2008: 2293.82 (ten thousand)

  18. Encourage education by providing more subsidy • Import labour under goodmonitoring system • Allocate more resources to growing industries • E.g. provide subsidy to developing industries Ways to improve:

  19. Further develop the economic activities • E.g.manufacturing / textile industry • Cooperated with the nearby cities e.g. Zhuhai • E.g. Tourism

  20. Good economic performance • Unhealthy and unstable economy • Gaming is important (tax revenue, employment, resources) • Affected largely by external demand • Social unrest • The government should improve this situation Conclusion:

  21. The End

  22. Macau Government Tourist Office • http://hk.macautourism.gov.mo/cn/info/info.php • Statistics and Census Service Macao SAR Government • http://www.dsec.gov.mo/Statistic.aspx References

  23. Census and Statistics Department Hong Kong SAR Government • http://www.censtatd.gov.hk/hong_kong_statistics/statistics_by_subject/index_tc.jsp?subjectID=1&charsetID=2&displayMode=T • Sai Kung Healthy and Safe City • http://www.saikunghsc.org.hk/b5g/info/publish/report2009/03%20Sai%20Kung%20Introduction.pdf

  24. Hong Kong and Economic Trade Office • http://www.hketousa.gov.hk/usa/press/2010/jan10/011910.html • US Department of State • http://www.state.gov/r/pa/ei/bgn/2747.htm • Currency converter • http://finance.yahoo.com/currency-converter

  25. 澳門日報 http://0-libwisesearch.wisers.net.hkbulib. hkbu.edu.hk/ws5/tool.do?wp_dispatch=cof irm-view&doc-ids=news:188c^2010041122 00187%28S:81455505%29&menu- id=&on -what=selected&from-list&display-style=all &tooldisplay=true • 華澳日報 http://www.waou.com.mo/detail.asp?id=47845

  26. 逾60％人料樓價再漲 • http://thesun.on.cc/cnt/finance/20101118/00434_018.html?pubdate=20101118 • 中原料澳門全年住宅 成交增59％ • http://www.mpfinance.com/htm/Finance/20101007/News/ec_ecc1.htm • 澳門宣告步入衰退 賭業不容樂觀 • http://www.takungpao.com.hk/news/09/05/30/_IN-1090333.htm

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