There is a war going on. Although it is not war in a typical sense of that word, it is still an unpleasant one which can just as well shake the economy of the world, and especially the economy of two countries who are the main protagonists of that war – the US and China.
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On the other hand, we have Macau – a sort of independent state that is still closely related to China but also has casinos. Macau has experienced a recent boom in the gambling industries, and there are predictions that the Qatar, which currently holds the highest GDP will fall to the second place by 2020 – and Macau’s going to be the country that will take the throne.
However, these predictions seem to be not objective as the trade war is likely to affect Macau as well up to a certain extent. In fact, some of the experts say that there will be a negative impact in this administrative region when it comes to the gambling revenues.
The trade war between US and China is already taking its toll and slowing down everything else in the entire region. The latest move drawn between the countries was the 25% tariff that was introduced to the $34 billion worth of Chinese products by Trump’s administration. This resulted in a lot of talks in the Chinese ruling party and the government, and many experts expect serious losses in stock prices, as well as the fluctuating markets. This will all be crowned with a lot of uncertainty in both countries regarding the future of their respective economies.
However, until recently, Macau has not been the subject to these bad predictions. On the contrary, the overall predictions regarding this area were mostly positive, predicting the huge growth in revenue.
This changed on Thursday when Macau CEO Fernando Chui Sai On stated that the trade war between the US and China could result in a decline of tourists in this area. He added that the administration would take a close look and monitor the number of tourists as well as their purchasing power over the next period and provide thorough reports.
This is all going to be conducted due to speculations about the trade war affecting this market. However, the CEO of Macau remains positive and says that the impact will probably not heavily affect the casinos – at least not by the end of 2019. He stated that the effect of the trade war would be felt by the end of 2019 or maybe even the beginning of 2020.
This would probably conclude the immense two-year growth that Macau had lately. The gambling revenues for this year are up to 10.3% in comparison to the revenues achieved last year which is a huge step forward for this area. Compared to other gambling markets in the world, Macau is the one that has been the most successful recently.
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