 In the near future, Macao will have the challenge of facing the difficulty that the small and medium sized companies will have to survive competing with the powerful gambling and tourism industries. This observation has been presented in a report made by Economist Intelligence.
This report has highlighted that Macao is expected to have a “brilliant” growth in the next few years, with 20 thousand million dollars invested in a series of new projects, including hotels and casinos. Economist Intelligence remarked that Macao’s government will have to ensure that the infrastructure projects satisfy the demands of those sectors on which its economy is based: gambling and tourism.
According to this report, the greatest concern for Macao will be if the public transport system and other infrastructure projects will be prepared to support this growth, “especially now that the approval of construction and infrastructure projects has decreased considerably after Ao Man-Iong, former secretary of transport and public affairs, was sentenced to spend 27 years in prison on corruption charges”.
The new hotels and entertainment centers which are being built in the Cotai region (between the islands of Taipa and Coloane) will help reduce the high incomes percentage represented by the gambling industry, which is necessary to diversify Macao’s industry.
Source: Article originally published in MediaGambling
|
