Macau, known as China’s answer to Las Vegas, is one of the wealthiest places in the world.
In fact, according to the International Monetary Fund, it’s expected to surpass Qatar in 2020 as the location with the highest gross domestic product per person on a purchasing power parity basis.
Macau is located on China’s southern coast about 40 miles from Hong Kong. Both cities are known as special administrative regions, which is a designation that grants them distinct rules and economic freedoms from the rest of China.
Over the years, Macau has become a hotspot for China’s high rollers: Its gaming revenues are five times higher than those of Las Vegas. Macau’s gaming revenue and overall economy thrived as visitors from Mainland China began to surge in 2003 as travel restrictions loosened and Chinese citizens became increasingly wealthy.
The city’s small population of 650,000 relative to its large economy means its GDP per capita is already one of the world’s highest. By 2020, Macau’s GDP will reach around $143,000 per person, according to the IMF. At that time, it’s set to top Qatar’s projected figure of $139,000 and Luxembourg’s expected $118,000.
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