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Macau is China's gambling capital and worlds 4 richest territory

Macau: China's Gambling Capital and the World's Fourth Richest Territory

With its swelling numbers of tourists and gamblers from mainland China, Macau has become China's gambling capital and the world's fourth richest territory per person, according to World Bank figures.

Macau

In 2013, Macau's gross domestic product per capita rose by 18% to £53,227, overtaking Switzerland whose GDP per capita rose by only 2% to £46,946. Although Macau had a population of just 566,400 in 2013, its GDP totalled £30.16bn, thanks to its huge gaming revenues that dwarf those of Las Vegas.

As the region tries to diversify into a more family-friendly tourist destination amid a crackdown on corruption among China's government officials by President Xi Jinping, casino bosses in Macau are investing in lavish resorts, high-end shopping malls, and elaborate stage shows.

Macau, a former Portuguese colony, is the only place in China where gambling is legal. It was returned to China in 1999, shortly after Hong Kong was handed back in 1997 following 150 years of British control.

Macau is home to more than 30 casinos, including the world's largest, the Venetian Macau, which had an estimated 120,000 visitors a day over the 2013 Christmas period. Despite half of all visitors staying for just 24 hours, the average bet placed is estimated to be at least £60.

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