Macau was the top-performing metropolitan economy in Asia-Pacific in 2014, according to a survey by the Washington-based Brookings Institution.
The city’s performance was based on its rapid 7.6 percent employment growth counterbalancing a decline in GDP per capita of 2.1 percent.
“Gaming revenues in Macau tumbled in the latter half of the year, but the development of two major new casinos contributed to 49 percent annual employment growth in the construction sector. Questions remain, however, about the sustainability of Macau’s growth given its singular reliance on gaming and tourism.”
The study found that the 100 largest metropolitan economies in the Asia-Pacific region together accounted for 20 percent of global GDP and 29 percent of global GDP growth in 2014.
Within the Asia-Pacific region, Chinese metro economies experienced the fastest GDP per capita growth, and North American metro areas registered the fastest employment growth in 2014. Seventy percent of the fastest-growing Asia-Pacific metro areas were located in mainland China. By contrast, 65 percent of the slowest-growing metro economies were in Australia and Japan.
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