Macau’s economy expanded by 7.1% in the first quarter of 2026, fueled by a robust recovery in service exports and a significant rise in visitor arrivals. According to data released today by the Statistics and Census Service (DSEC), the territory’s Gross Domestic Product (GDP) rose to 107.56 billion patacas. This growth was largely attributed to the Lunar New Year holidays and a packed calendar of festive activities that drew millions to the city.
Despite the positive trajectory, authorities noted that the economic volume between January and March still represents only 90.3% of the levels seen in the first quarter of 2019. Overall service exports grew by 12.8%, mirroring a 13.7% increase in visitor arrivals.
Specifically, gaming services saw a 13% boost, while other tourism-related service exports surged by 17.5%. The city set a new historical record for the period, welcoming 11.2 million visitors, surpassing even pre-pandemic figures.
While tourism and gaming flourished, other sectors showed mixed results. Private consumption expenditure rose by 3.4%, but government final consumption expenditure fell by 2.8%. Most notably, gross fixed capital formation plummeted by 21%, a decline the DSEC attributed to a significant slowdown in both private and public construction projects.
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In the trade sector, merchandise exports grew slightly by 1.1%, while imports increased by 5.8%.
The International Monetary Fund (IMF) recently raised its 2026 growth forecast for Macau to 3%, even as it maintains a cautious outlook for the global economy. The IMF cited concerns that the ongoing conflict in Iran could disrupt energy markets and drive up prices.
Amidst these global pressures, Macau continues to push for economic diversification to reduce its reliance on gaming—a sector that still accounted for nearly half of the territory’s GDP in 2025.
Macau remains the only location in China where casino gambling is legal, with six major concessionaires currently operating under contracts valid until 2034. During the first three months of 2026, casino revenues totaled 65.9 billion patacas (approximately 7.45 billion euros), a 14.3% increase over the previous year.
For the full year of 2026, the government expects gross gaming revenue to reach 236 billion patacas, reflecting a projected annual increase of 3.5%.
