Macao - statistics & facts
Macao is officially known as the Macao Special Administrative Region of the People's Republic of China. It used to be a colony of Portugal until 1999, as the Chinese government assumed formal sovereignty over Macao. The city is a famous gambling hub in Asia, and the gaming industry is by far the most important economic sector in the city. During the COVID-19 pandemic, Macao saw a severe downturn in visitors, which had a devastating effect on the city's economy. After the lifting of pandemic related measures, however, the economy rebounded significantly in 2023.
Due to the rapid economic growth in the last decade, Macao's unemployment rate dropped to relatively low levels and was only pushed up by the negative effects of the coronavirus pandemic. The work force in Macao is mainly employed in gaming services and hotels and restaurants. In respond to the fast growing economy and a shortage of labor, especially in the manufacturing industry, the Macao government has made use of the supply of labor from the neighboring regions and imported labor from mainland China, the Philippines, and Vietnam.
Demographic development of Macao
Located across the Pearl River estuary from Hong Kong, Macao had a population of around 683,500 people as of 2023. The population is spread across a total land area of approximately 33 square kilometers, which makes Macao to one of the most densely populated territories in the world. The total population has been growing for a long time due to immigration mainly from mainland China and other Asian countries. However, the fertility of the population living in Macao is one of the lowest in the world.Due to the rapid economic growth in the last decade, Macao's unemployment rate dropped to relatively low levels and was only pushed up by the negative effects of the coronavirus pandemic. The work force in Macao is mainly employed in gaming services and hotels and restaurants. In respond to the fast growing economy and a shortage of labor, especially in the manufacturing industry, the Macao government has made use of the supply of labor from the neighboring regions and imported labor from mainland China, the Philippines, and Vietnam.
