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UM releases Revised Macroeconomic Forecast for Macao 2024
The Centre for Macau Studies and the Department of Economics of the University of Macau (UM) have released the Revised Macroeconomic Forecast for Macao 2024. Based on the latest economic data in 2024, the research team anticipates that the economic slowdown in mainland China will have a relatively small impact on Macao and has, therefore, revised the projected number of visitor arrivals from mainland China to be 90% of the 2019 level. On this basis, the baseline forecast for Macao’s GDP growth is projected to be 16.8% (year-on-year real growth rate), which corresponds to 94.5% of the 2019 level, amounting to MOP 415.3 billion (calculated using the chain volume measures for the year 2021). The revised baseline forecasts for other major economic variables are as follows: the growth of exports of services is projected to be 23.4%; the overall unemployment rate is expected to be 2.2%; the unemployment rate of Macao residents is expected to be 2.8%; and the government current revenue is estimated to reach MOP 100.2 billion.
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Tourist price index (TPI) for the 1st quarter of 2024
Information from the Statistics and Census Service (DSEC) indicated that the Tourist Price Index (TPI) for the first quarter of 2024 went up by 4.68% year-on-year to 144.68, on account of higher hotel room rates and dearer prices of clothing and jewellery; yet, reduced prices of fireworks and firecrackers offset part of the increase. Among the various sections of goods and services, price indices of Clothing & Footwear, Accommodation and Miscellaneous Goods grew by 9.17%, 8.35% and 6.54% year-on-year respectively, while the index of Entertainment & Cultural Activities dropped by 15.29%.
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Tap Siac Craft Market in Spring inaugurates next Thursday
Organised by the Cultural Affairs Bureau (IC, from its Portuguese acronym), the Tap Siac Craft Market in Spring will be held from 18 to 21 and from 25 to 28 April at Tap Siac Square. The opening ceremony will be held on 18 April (Thursday) at 5:30pm, featuring singer Joyce Chu as guest performer. All are welcome to participate in this cultural and creative feast of the Guangdong-Hong Kong-Macao Greater Bay Area.
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Five stalls for public tender in Horta da Mitra Market have commenced business to offer diversified and new merchandise
Five stalls for public tender in Horta da Mitra Market have commenced business to offer diversified and new merchandise
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Cultural Affairs Bureau conducts regular inspection and maintenance of the Ruins of St. Paul’s, closing the monument and the VR exhibition to the public on 16 April
The Cultural Affairs Bureau (IC, from the Portuguese acronym) will conduct regular weeding and inspection of the bronze statues of the former Mater Dei Church from 6am to 6pm on 16 April. In order to ensure public safety and carry out the referred works, there will be barricades temporarily installed in the forecourt and on the staircase of the former Mater Dei Church on 15 April from 6pm, separating the intervention area from the public.
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CE meets Guangzhou officials to bolster cooperation
The Chief Executive, Mr Ho Iat Seng, today met with leading officials of Guangzhou, in Guangdong Province, to exchange views on deepening cooperation between Guangzhou and Macao, and on promoting inter-industry development, as well as development of the Guangdong-Hong Kong-Macao Greater Bay Area.
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CE: Working closely with Guangdong and Hong Kong to ensure smooth preparations for 15th National Games
The Chief Executive, Mr Ho Iat Seng, today said Macao Special Administrative Region (MSAR) will fully cooperate with the work of the Organising Committee of the 15th National Games, joining hands with Guangdong Province and the Hong Kong Special Administrative Region (HKSAR) to ensure the smooth progress of all preparations for the event.
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