89
the blank space with “gam- ing”. However, it is not only the local casinos that are see- ing their revenue skyrocket- ing. Retailing is also posting striking results. In just 10 years the vol-
I
ume of retail sales in Macau has posted an almost fi ve- fold increase, from nearly MOP4.59 billion in 2000 to more than MOP22.34 billion last year. Several positive econom-
ic trends help to explain this rapid growth. For starters, tourists are
spending more and more on shopping. Per capita shop- ping spending by visitors amounted to MOP761 in the second quarter, up by 49 per- cent year-on-year. The number of people
visiting Macau is also rising. Total visitor arrivals reached 16.7 million in the fi rst eight months of
this year, up 18
percent year-on-year. And there is anecdotal evidence that domestic demand is also growing as GDP surges, tak- ing purchasing power along for the ride. Offi cial data shows that
in the second quarter the val- ue of retail sales amounted to MOP6.84 billion, a 32 per- cent year-on-year increase. At the end of June, 17,390 people were working in the retail trade in Macau.
All that glitters Watches and jewellery top the list of the most sought- after items, posting the high- est growth rate in retail sales over the past decade, from MOP392 million in 2000 to more than 4.8 billion in 2009 – close to a 12-fold increase. But it is only since 2006
that sales of watches and jew- ellery have been the biggest piece of Macau’s retail pie. It seems this is a trend that will continue.
OCTOBER 2010
f you put “Macau” and “boom” in one sentence, most people will fi ll in
Photo: Luís Almoster |
mspagency.org
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