Country Guides
Macau
Business
Business
Macau
• GDP: US$19.2 billion (2007).
• Main exports: Clothing, textiles, footwear, toys and electronics.
• Main imports: Raw materials and semi-manufactured goods, consumer goods (food, drinks and tobacco), capital goods, mineral fuels and oil.
• Main trade partners: China (PR), Japan, Hong Kong, Singapore, USA and Taiwan.
Economy
Macau reverted to Chinese rule in December 1999, and has since experienced a transformation in its economic fortunes. Like Hong Kong, Macau has long been an important distribution outlet for Chinese products. Agriculture is negligible with few natural resources, but the territory has an active manufacturing and export sector. Macau recovered well after the Asian financial crisis and 2001 global downturn.
Its economy has surged ahead thanks to gambling, its GDP topping 10% in 2006. Gaming receipts now outstrip even those of Las Vegas, and a massive casino resort construction boom has been under way since 2003, with large Las Vegas operators investing heavily. The associated tourism has become a major income source, with gross gambling revenues of US$10.34 billion in 2007.
The Sino-Portuguese agreement, under which Macau reverted to Chinese rule in December 1999, guarantees the continuation of Macau's economic autonomy for 50 years.
Business Etiquette
Businesspeople should dress smartly. Business cards are essential, appointments should be made in advance and punctuality is appreciated. The World Trade Center (tel: 2872 7666; website: www.wtc-macau.com) offers assistance and various facilities for businesses, including a VIP Club restaurant.
Office hours: Mon-Fri 0900-1300 and 1500-1730 and Sat 0900-1230.
Conferences & Conventions
Major meetings venues include the Macau Tower Conference Centre (www.macautower.com.mo), the world's 10th highest freestanding building, which also features a revolving restaurant, entertainment area and shopping facilities. Many of the large new hotels that have opened in the past three years, including The Venetian, MGM Grand and Wynn Macau, have state-of-the art meeting and dining facilities.
Business Contacts
Macau Chamber of Commerce
Edificio ACM, 5th Floor, Rua de Xangai, Macau (SAR)
Tel: 2857 6833.
Website: www.acm.org.mo
Macau Government Tourism Office
Alameda Dr Carlos d'Assumpcao, Nos 335-341, Edificio ‘Hot Line', 12o andar, Macau
Tel: 2831 5566.
Website: www.macautourism.gov.mo
• GDP: US$19.2 billion (2007).
• Main exports: Clothing, textiles, footwear, toys and electronics.
• Main imports: Raw materials and semi-manufactured goods, consumer goods (food, drinks and tobacco), capital goods, mineral fuels and oil.
• Main trade partners: China (PR), Japan, Hong Kong, Singapore, USA and Taiwan.
• Main exports: Clothing, textiles, footwear, toys and electronics.
• Main imports: Raw materials and semi-manufactured goods, consumer goods (food, drinks and tobacco), capital goods, mineral fuels and oil.
• Main trade partners: China (PR), Japan, Hong Kong, Singapore, USA and Taiwan.
Economy
Macau reverted to Chinese rule in December 1999, and has since experienced a transformation in its economic fortunes. Like Hong Kong, Macau has long been an important distribution outlet for Chinese products. Agriculture is negligible with few natural resources, but the territory has an active manufacturing and export sector. Macau recovered well after the Asian financial crisis and 2001 global downturn.
Its economy has surged ahead thanks to gambling, its GDP topping 10% in 2006. Gaming receipts now outstrip even those of Las Vegas, and a massive casino resort construction boom has been under way since 2003, with large Las Vegas operators investing heavily. The associated tourism has become a major income source, with gross gambling revenues of US$10.34 billion in 2007.
The Sino-Portuguese agreement, under which Macau reverted to Chinese rule in December 1999, guarantees the continuation of Macau's economic autonomy for 50 years.
Its economy has surged ahead thanks to gambling, its GDP topping 10% in 2006. Gaming receipts now outstrip even those of Las Vegas, and a massive casino resort construction boom has been under way since 2003, with large Las Vegas operators investing heavily. The associated tourism has become a major income source, with gross gambling revenues of US$10.34 billion in 2007.
The Sino-Portuguese agreement, under which Macau reverted to Chinese rule in December 1999, guarantees the continuation of Macau's economic autonomy for 50 years.
Business Etiquette
Businesspeople should dress smartly. Business cards are essential, appointments should be made in advance and punctuality is appreciated. The World Trade Center (tel: 2872 7666; website: www.wtc-macau.com) offers assistance and various facilities for businesses, including a VIP Club restaurant.
Office hours: Mon-Fri 0900-1300 and 1500-1730 and Sat 0900-1230.
Office hours: Mon-Fri 0900-1300 and 1500-1730 and Sat 0900-1230.
Conferences & Conventions
Major meetings venues include the Macau Tower Conference Centre (www.macautower.com.mo), the world's 10th highest freestanding building, which also features a revolving restaurant, entertainment area and shopping facilities. Many of the large new hotels that have opened in the past three years, including The Venetian, MGM Grand and Wynn Macau, have state-of-the art meeting and dining facilities.
Business Contacts
Macau Chamber of Commerce
Edificio ACM, 5th Floor, Rua de Xangai, Macau (SAR)
Tel: 2857 6833.
Website: www.acm.org.mo
Macau Government Tourism Office
Alameda Dr Carlos d'Assumpcao, Nos 335-341, Edificio ‘Hot Line', 12o andar, Macau
Tel: 2831 5566.
Website: www.macautourism.gov.mo
Edificio ACM, 5th Floor, Rua de Xangai, Macau (SAR)
Tel: 2857 6833.
Website: www.acm.org.mo
Macau Government Tourism Office
Alameda Dr Carlos d'Assumpcao, Nos 335-341, Edificio ‘Hot Line', 12o andar, Macau
Tel: 2831 5566.
Website: www.macautourism.gov.mo
Travel Partners
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