The territory’s economy is expected to decline between 54.5 percent and 60 percent over the course of this year, according to forecasts by the Department of Economics at the University of Macau.
The estimates were released yesterday, in an exercise that presents five possible scenarios, depending on the number of tourists, and is the third revision of the estimates since the beginning of the year.
According to the worst scenario, which assumes 5.16 million visitors, the drop in the Gross Domestic Product (GDP) will reach 60 percent. At the opposite pole, the 54.5 percent drop assumes that 12.66 million tourists will enter by the end of the year. The latter scenario also assumes an economic recovery from the second half of the year.
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