Macau economic growth slows as gaming revenue hits 2026 low

Macau is experiencing a moderation in economic growth and a slowdown in its gaming sector. The International Monetary Fund (IMF) projects the territory's GDP to grow by 3.3 percent this year, with growth expected to ease to 3 percent by 2029. While the economy has remained resilient, the IMF noted that growth continues to rely heavily on tourism and gaming, with domestic demand yet to see a broad-based rebound.

In the gaming sector, Macau reported its lowest monthly gross gaming revenue (GGR) of 2026 in September, totaling approximately US$2.24 billion. This represents a 1.2 percent year-on-year decline and a 17.5 percent decrease from August. Despite a 19.5 percent increase in visitors during the Mid-Autumn Festival, the revenue decline highlights weakening momentum in the market. Although year-to-date revenue remains 3.2 percent higher than in 2025, it still sits 15.1 percent below 2019 pre-pandemic levels.