Macau has leapfrogged Switzerland to become the world’s fourth richest territory per person, according to the World Bank, thanks to the influx of mainland Chinese gamblers and tourists.
The former Portuguese colony recorded per capita gross domestic product of $91,376 in 2013, behind Luxembourg, Norway and Qatar. The Chinese territory overtook Switzerland – which was worth $80,528 per person – with an 18.4 per cent jump that was driven by buoyant gaming revenues.
In 2013, Macau posted gaming revenues of $45bn – more than seven times Las Vegas – continuing a dizzying rise that has pushed unemployment down to 1.7 per cent. The bulk of the money comes from mainland Chinese punters visiting Macau, which is only place in China where casinos are legal.