Macau, the world’s largest gambling hub, announced a $16.1 billion investment plan to transform itself from a tourism-focused city into a business center. The initiative, part of Macau’s third five-year plan from 2026 to 2030, aims to boost non-gaming industries to contribute 60% of the city’s GDP by 2030, up from gaming’s current 45% share, according to Alex Che Weng Keong, president of Macau’s Commerce and Investment Promotion Institute, speaking on September 8 (fortune.com).
The plan involves allocating 130 billion patacas to support emerging industries, leveraging Macau’s autonomy as a special administrative region with its own currency, legal system, and customs territory. Che highlighted Macau’s ability to offer regulatory flexibility and talent mobility to attract new sectors. He cited Las Vegas as a model, where a casino town evolved into a global venue for business, conferences, and exhibitions (fortune.com).
Macau’s economy heavily depends on gaming, which supplies about 80% of government tax revenue. The diversification effort reflects a strategic shift to reduce reliance on gambling and build a more resilient economy. The move aligns with broader trends in China’s special administrative regions to foster innovation and emerging industries, positioning Macau as a competitive business destination in Asia (fortune.com).
The new five-year plan marks Macau’s third since its return to Chinese rule in 1999. It sets a clear target for non-gaming sectors to dominate the economy by 2030, signaling a major shift in the city’s economic structure and priorities (fortune.com).