Government Warns that Macau Must Diversify its Economy

Government Warns that Macau Must Diversify its Economy The chairman of China's Basic Law Committee, Li Fei, told the media that Macau is too dependent on revenue from gambling and must consider diversity.

Li Fei said that the dependence on the gambling industry places the region at risk of the difficulties and political decisions of surrounding economies.

"One must not focus on economic growth and tax revenue alone when looking at Macau's overall well-being, given the close connection between its economy, especially the gaming sector, and the [Chinese] mainland," he said. "One must think from the perspective of China's economic and social security, stability and development."

The central government previously warned that Macau must do more to boost its economic base especially in the face of a downward trend in the gambling market. The blame for the decline has been placed on the Chinese government, who have made it difficult to obtain visas and intimidate gamblers.
  • This is an unusual situation. I guess the Chinese Government has concerns about gang violence. The gambling casinos were blamed for this previous problem. I guess the Chinese Government thinks that making it difficult to obtain this separate visa needed to visit Macau and intimidating gamblers will deter these gangs in the future. I have also heard that they now have casino boats in Hong Cong. They go to international waters where a patron can get a room for about 1/3 the price as in Macau. You can gamble all night and you don't need the visa. Now I can see how those boats can cut into the Macau gambling profits.

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