Macao's GDP rose by 38.8% year-on-year in the first quarter of 2023, recovering to 66.4% of the 2019 level, data from the Statistics and Census Service (DSEC) of the Government of the Macao Special Administrative Region showed on Thursday.
The economic performance was supported by positive factors such as the optimization of the COVID-19 policy, the full resumption of group tours from the Chinese mainland and people-to-people exchanges between Macao and Hong Kong, according to the DSEC.
The number of visitor arrivals in the first quarter surged by 163.7% year-on-year to 4.95 million, corresponding to 48.4% of the figure in the same quarter of 2019. This boosted exports of gaming services, which soared 100%, and exports of other tourism services, up by 72.9%.
Total services exports were up by 71.5% year-on-year and imports of services rose 24.0%.
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