Originally “A-Ma-Gau,” Macau is named in honor of the patron goddess of sailors, A-Ma. A small yet beautiful territory of China, Macau is known as the “Las Vegas of the East” as it is home to the world’s biggest gambling site, surpassing even the existing luxury casinos in Las Vegas.
Here are four interesting facts about Macau.
It earns three times more than Las Vegas in annual casino profits.
Macau is known worldwide as the “Gambling Capital of the World”. In year 2007, it overtook Las Vegas on annual casino profits. This is due to the entry of large casino businesses from Las Vegas and Australia. Macau’s biggest revenue comes from their gambling sites and makes up 50% of the economy. It generates three times the annual gambling revenue of Las Vegas (US$28 billion) with just 49 gambling establishments in the country.
It’s the second richest territory in the world.
Macau is known as one of the wealthiest place in the world because of its booming casino industry. In year 2017, according to the International Monetary Fund (IMF) its Gross Domestic Product (GDP) per capita is US$114,430. It also has a record of zero public debt in 2016 and had fiscal reserves to meet their day to day operational expenses and public works expenditures.
It is Guinness World Record breaker for world’s highest bungee jump.
Macau is a Guinness world record holder for the world’s highest commercial bungee jump. It is The AJ Hackett Macau Tower Bungy Jump, which lets jumpers pitch off the tower from an astonishing 233m or 764ft high above the ground and experience a daredevil free fall experience. It is one of the world’s most trusted bungee towers in Macau.
The local government pays its citizens.
Due to the annual gambling revenue and massive surplus of money coming from casino profits, the Macau government pays its citizens annually. In year 2006 when the casino industry has started to go up, they started to share the fruits of economic development, with the permanent residents receiving 9,000 Patacas (about US$1,200) and non-permanent residents 5,400 patacas (about US$670) as an annual dividend from the government.
There are a lot more wonderful things to know and explore in Macau. Check out Macau News Daily for news and information.
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