Macau over reliant on gaming, EU warns

The European Union says Macau continues to be overly reliant on the gambling industry and government efforts to diversify its economy have not produced significant results. According to the EU report, the contribution of the gambling industry to Macau’s Gross Domestic Product has ballooned from 32.3 percent in 2009 to 45.9 percent in 2012, with about one quarter of its total workforce in some way reliant on gaming. The EU also points out that the government got more than 81 percent of its tax revenue from gambling in 2013.