Macau – A Good Place?
As many regular readers of my blog will know already, Macau has overtaken Las Vegas as the gambling mecca of the world. Easily eclipsing Las Vegas’s annual gambling revenues this year (with Macau’s $10.3 billion US Dollars revenue), Macau’s collection of iconic casino hotels, including Wynn Macau, Sands Macau and others, continues to grow.
Perhaps not surprising then is that the population there are some of the richest in Asia. Their average GDP contribution rose 27% from last year, and now sits at a healthy $36,357 USD per person. For Asia, that’s high. Although saying that, compared to some Western economies, it’s not stunning. But it does beat the annual GDP figures per capita for Italy! Amazing – Macau has a higher GDP than one of the most established / oldest countries in the world!
What I found more intriguing is that approximately 19,000 people live in each square km of Macau, which makes it one of Asia’s most populated areas. Crowds everywhere. People living everywhere. It’s a beautiful place (I’ve visited several times) but I’m not sure I could handle those crowds on a day to day basis. Perhaps that’s why I don’t live in Las Vegas either – I find the Vegas Strip positively claustrophobic on a busy day, and especially on a Friday or Saturday night. Wall after wall of people. 🙁
The sad irony of the richness of GDP is that as the rich continue to grow their wealth, the poor only get moderate increases in their wages. The average monthly income in Macau is about $1000 USD – not bad by Asia standards (or any standards) – but some of these people are working horrendous hours to get that wage. And inflation last year was at 10%, the highest for 12 years in Macau.
So I guess that whilst the Macau headline figures are interesting, it’s always good to do a little more research and dig beneath the surface – just like I do with all of the casino games I write about, and any online casinos / games I recommend. My research shows that whilst Macau will continue to grow as a gaming destination, there will probably before long be a large gap between rich and poor. Just like every other country in the world. Sigh. Wouldn’t it be nice to have a nation / country / plot of land somewhere in the world that benefited EVERYONE from its gaming revenues? Perhaps that’s just a pipe dream or delusion I have alone…