Why is Macau so rich? | CNBC Explains

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Why is Macau so rich? | CNBC Explains 5
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Macau is projected to be the wealthiest place on earth by 2020. CNBC's Uptin Saiidi explains why.

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💬 Comments on the video
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Just because the GDP is high doesn't mean that it reaches every person. Go to the old town, not "swanky" or "rich" at all, just normal. Most of the GDP probably goes into a few pockets

Author — TechZG

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Because it's the only place where gambling is legal in ALL of China.

Author — Chris S

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Video Suggestion:- Why there are so few Indian tech unicorns? When India is know through out the world for its IT & Tech Industry!!

Author — The Outliers

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Macau was once known as "China's Las Vegas."
Now Las Vegas is known as "The US' Macau."

Author — ZhangtheGreat

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“In 2020, Macau will be richer than Qatar”

Coronavirus:

Author — Steve Marlow

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i go to macau mainly for Portuguese custard tarts lol

Author — Heidi W

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for those saying macau is poorer then hong kong show me images of ppl living in cages inside apartments like hong kong who had miserable living conditions, in macau you dont pay taxes, government pays you for living there 2000 bucks year.

Author — Jesse Livermore

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Macau citizens receive money annually from the Macau government taxing casinos. Not only do this, but they also receive government scholarships/book fees for anyone who is studying abroad.
Macau citizens receive a lot of government benefits and that is mainly from taxes the government collects from the casinos.

Author — Google Profile

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*Answer: Casinos & BBQ Goose Legs*

Author — _Bob McCoy

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It's rich because this is the only city in China where people can gamble legally

Author — GOD

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Macau will be first place for gamblers in Macau you win you pay no taxes 100% money is yours in Vegas you win you pay around 25% to 30% taxes.

Author — MODRATOR

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Macau could be the biggest laundromat for China?

Author — Critical Thinker

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When I went there recently, the tour guide said that the average income was about MOP48k under Portuguese rule in 1999 and now has gone up to MOP180k under Chinese rule in 2018 (one-country, two-system works). I don't know if that is high or adequate but at least their average salary has gone up more than three fold in less than ten years. All schools raise Chinese National flags while only 18 schools in HK raise the Chinese flag. Macau people love Macau and China, they are proud to be Chinese. That's what I saw and learned while being there as a tourist.

Author — BT S

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Egg tart in Venetian was amazing. Even better than those made in Hong kong

Author — kyle009 00

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It's the same as in Hong Kong. They both get wealthy because of China.

Author — Truth Matters

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Author — Prakash Modak

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Macau and Brazil were the 2 most important colonies in Portuguese Empire, love them!

Author — L. Hollanda

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Because the policy of “one country two systems “

Author — 陳大勇

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Why is Macau so rich?
- glambling
- entertainment hub

Author — Jakkrapat Khiawdee

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I've been to Macao several times. I want to say Macau really offer so many options for dining.

Author — Jacob Cheung