Information from the Statistics and Census Service (DSEC) indicated that inward direct investment flows in the Macao Special Administrative Region (Macao SAR) rose by 54.9% year-on-year to MOP 13.76 billion in 2024, mainly due to an increase in profits reinvested by some enterprises. Inward direct investment income amounted to MOP 53.92 billion in 2024, an uplift of 1.9%. As at the end of 2024, stock of inward direct investment totalled MOP 395.36 billion, up by 4.5% year-on-year.
Analysed by industry, inflows of direct investment in Financial Activities and Wholesale & Retail Trade stood at MOP 10.15 billion and MOP 2.91 billion respectively in 2024. As regards immediate source of investment, capital came mainly from the Chinese mainland (MOP 6.30 billion) and the Hong Kong Special Administrative Region (Hong Kong SAR) (MOP 6.18 billion). Meanwhile, a positive investment flow from the Cayman Islands (MOP 2.97 billion) was recorded in 2024, in contrast to the negative inflow in 2023, as loan repayments by large enterprises decreased year-on-year.
In 2024, income earned by foreign direct investors in the Gaming Sector reached MOP 30.83 billion, while income earned in Financial Activities and Wholesale & Retail Trade stood at MOP 8.17 billion and MOP 7.95 billion respectively.
Inward direct investment stock in Financial Activities (MOP 143.00 billion) and Real Estate Development, Leasing & Sale Activities (MOP 23.96 billion) increased by 9.2% and 5.5% year-on-year respectively, while that in the Gaming Sector dropped slightly by 0.1% to MOP 142.35 billion. Analysed by immediate source of investment, investment stock from the Chinese mainland (MOP 95.95 billion) and the Hong Kong SAR (MOP 108.58 billion) went up by 9.6% and 7.6% year-on-year respectively, while that from the British Virgin Islands (MOP 79.13 billion) fell by 1.0%.
Outward direct investment flows of Macao SAR enterprises totalled MOP 3.74 billion in 2024, and investment income amounted to MOP 1.11 billion. As at the end of 2024, stock of outward direct investment expanded by 2.0% year-on-year to MOP 110.02 billion.
Outward direct investment stock in the Chinese mainland rose by 0.5% year-on-year to MOP 82.91 billion, of which investment stock in the Greater Bay Area cities increased by 1.5% to MOP 68.81 billion, accounting for 83.0%. In addition, outward direct investment stock in the Hong Kong SAR grew by 14.4% year-on-year to MOP 8.59 billion. Analysed by industry of Macao SAR enterprises, stock of outward direct investment made by enterprises engaged in Wholesale & Retail Trade went up by 1.3% year-on-year to MOP 18.65 billion, whereas investment made by those in Real Estate Development, Leasing & Sale Activities dropped by 5.5% to MOP 23.51 billion.
Direct Investment Statistics aims to provide an overview of direct investments between the Macao SAR and other economies. Direct investment refers to investment with a holding of 10% or more of the equity share capital in an enterprise. Principal statistical indicators include stock (the accumulated value of direct investment over the past years) and flows (the amount of change in direct investment in the reference year), which include financial data of enterprises such as equity capital, income and loans.
For statistical purposes, the Chinese mainland and the Macao SAR are considered as two economies. Statistical results are obtained from the Enterprise Survey, which covers Macao SAR enterprises engaged in Industrial Sector; Construction; Wholesale & Retail Trade; Hotels, Restaurants & Similar Activities; Transport, Storage & Communications; Financial Activities; Gaming; Real Estate Development, Leasing & Sale Activities and so forth; however, individuals are excluded. The statistical unit is an enterprise. If an enterprise has one or more establishments engaged in different economic activities, the industry of the enterprise will be classified according to its main economic activity as reported in the questionnaire. For example, data on hotels, restaurants and other establishments of a gaming enterprise are incorporated into the statistics of the Gaming Sector.