DANILO T. IBAYAN

CHINA’s Special Administrative Region of Macau is a small, densely populated place with an oversized wallet. With a total land area of only 29.2 square kilometers and a population of 650,000 (2016 census), it is one of the most densely populated regions of the world. With tourist arrivals of 30 million every year (2016), second only to France, it is thickly populated indeed. With the economy mainly based on gaming and tourism (Macau overtook Las Vegas in 2006 as the casino capital of the world in terms of casino revenues), it is one of world’s richest regions. The nominal GDP per capita is $77,451 and GDP per capita relative to purchasing power is $114,430. In 2015, the Brookings Institution ranked Macau as the fastest growing metropolitan region on the planet. Over the past three years, government budget surpluses have averaged 14.7 percent of GDP. It has no public debt.

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