Macau's 2025 Economic Growth Boosted by Visitor Surge

Macau witnessed a significant economic uptick in 2025, marked by a 4.7 percent growth in its gross domestic product (GDP), amassing MOP417.28 billion or approximately US$51.89 billion. This growth momentum gained steam particularly in the fourth quarter, where a notable GDP expansion of 7.6 percent was realized year-on-year.

Several factors underpinned this impressive performance, most notably an influx of visitors, attributed to a series of large-scale events and vigorous governmental initiatives to draw tourists to the region, as reported by Macau’s Statistics and Census Service.

Fourth Quarter Visitor Surge and its Economic Impact

The last quarter of 2025 stood out due to the remarkable growth in visitor arrivals, which saw a significant contribution to the economy, echoing in the quarter's GDP figures. The influx of tourists was not only a result of major events hosted in the region but also due to strategic efforts by the government to entice more footfalls. The economic output for this period was MOP115.39 billion, reflecting that Macau's economy had successfully rebounded to 89.6 percent of its 2019 performance, a time before the global disruption caused by the Covid-19 pandemic.

Contribution of Service Exports to Economic Growth

The fundamental drivers of this economic growth were exports, particularly in the service sector. The Statistics and Census Service indicated a "rapid growth in exports of services," emphasizing a 9.8 percent rise in total service exports during the fourth quarter. This upturn was significantly propelled by a 15.4-percent increase in visitor arrivals.

Macau's economic services, including tourism and gaming—major elements of service exports—were pivotal in this growth. These sectors reflect visitor spending in the city's renowned casinos and other tourism-centric amenities. Throughout the year, Macau's GDP journeyed through phases of contraction and rebound.

The beginning of 2025 saw a dip with a 1.3 percent decline, but subsequent quarters brought growth, primarily fostered by gaming and other tourism service exports. By the end of September, GDP had risen 4.2 percent year-on-year, with exports of gaming services alone climbing by 7.7 percent, laying the groundwork for the prosperous final quarter.

Source: Macau’s 2025 GDP up 4.7pct y-o-y, helped by surge in visitors in final three months, GGRAsia, January 30, 2026.