Hey there! Have you ever heard of Macao? It’s a small city with a big story! Let’s dive into how Macao has grown so much in the past 25 years.
What Happened in 1999?
In 1999, Macao returned to China and became a Special Administrative Region (SAR). This means it has some special rules that help it grow and develop.
Macao’s Economy Takes Off!
Back in 1999, Macao’s GDP (that’s Gross Domestic Product, like a big report card for a country’s economy) was 51.9 billion Macao patacas (MOP). That’s a lot!
But guess what? By 2023, it jumped to 379.5 billion MOP (about $47 billion)! 😲 That’s like going from having one cookie to having a whole bakery!
Imagine This…
Think about if your pocket money grew from $15 to $69 over time. That’s how much more each person in Macao is making on average now! This is called per capita GDP, which means the average amount of money each person makes.
Bouncing Back After COVID
In 2023, Macao’s economy grew by an amazing 80.5% compared to 2022! This big jump happened because people started traveling and doing business again after COVID-19.
One of the World’s Top Economies!
Because of all this growth, Macao is now one of the top-developed economies in the world. How cool is that?
The Future Looks Bright!
Macao’s story shows how hard work and smart choices can lead to awesome results. Who knows what amazing things they’ll do next?
Thanks for reading! 😊
Reference(s):
Macao by numbers: Macao's economy and trade continue to grow
cgtn.com
