Macau Q1 GDP jumps 12.4 percent; casino construction boosts investment

    Macau’s gross domestic product jumped 12.4 percent in the first quarter of 2014, with private investment surging close to 40 percent, fuelled by construction work on new multi billion dollar casino projects.
    The Statistics and Census Service said the exports of gaming services grew 13 percent, with other tourist services up 6.6 percent.
    The job market stayed robust, with a low unemployment rate and rising total employment. Construction and equipment investment increased by 44.9 percent and 19.4 percent respectively. The Macau government gets more than 80 percent of its fiscal revenue from the gambling industry. Gross gaming revenue in the territory hit a record $45.2 billion in 2013.