The Macau SAR Government has reaffirmed its target of increasing the contribution of non-gaming industries to around 60% of gross domestic product by 2030. The target forms part of the Government's broader strategy to reduce the economy's reliance on the gaming sector.
Secretary for Economy and Finance Ng Wai Han said economic diversification remains a key priority under Macau's latest five-year development plan. She said expanding non-gaming industries would help broaden public revenue sources while gradually shifting the balance between gaming and non-gaming economic activity.
According to Ng, the Government will continue implementing its "1+4" economic diversification strategy by strengthening Macau's integrated tourism and leisure industry while developing four priority sectors: traditional Chinese medicine and health, modern financial services, high technology and conventions, exhibitions, commerce, culture and sports.
During the current five-year plan, authorities also intend to support these industries through major development projects and government guidance funds designed to enhance competitiveness and stimulate economic growth. Other priorities include attracting businesses and skilled talent, improving the local business environment, streamlining administrative procedures and strengthening economic cooperation with Hengqin, the Greater Bay Area, mainland China and international markets.
The update comes as Macau continues to record growth in visitor arrivals, although international tourism has yet to meet official expectations.
According to the Macao Government Tourism Office (MGTO), overall visitor arrivals increased by approximately 2% year over year in July, while the first half of August recorded growth of around 10%. Officials said international visitor numbers have remained largely flat, citing geopolitical uncertainty and reduced airline capacity among the contributing factors.
Looking ahead, Macau will host several major events during the second half of the year, including the International Fireworks Display Contest, Macau Grand Prix, Food Festival and Light Festival, as authorities continue promoting tourism beyond integrated resorts through local neighborhoods, cultural attractions and food experiences.
The city's diversification efforts are also being reflected in its MICE industry, where attendance increased 37.6% year over year during the second quarter despite the number of events remaining broadly unchanged.
The "1+4" strategy focuses on tourism alongside four priority sectors: traditional Chinese medicine, modern finance, high technology, and conventions, exhibitions, culture and sports
