Macau’s Gross Domestic Product (GDP) for FY25 grew by 4.7% year-on-year in real terms, with the economy recovering to 89.6% of its 2019 level, indicating sustained economic recovery following the normalization of activities.
According to data from the Statistics and Census Service, the significant increase in visitor arrivals – driven by multiple large-scale events held in Macau during the fourth quarter of 2025 and a series of visitor attraction measures implemented by the SAR government – propelled service exports to maintain relatively rapid growth. This sustained the overall economy’s steady progress and development momentum.
On a quarterly basis, preliminary figures show that in the fourth quarter of 2025, GDP reached MOP$115.4 billion (US$14.3 billion), with year-on-year real growth of 7.6% – bringing the total economic output back to 94.1% of the same period in 2019.
For the full year, combined with the figures for the first to third quarters, the preliminary GDP for 2025 reached MOP$417.3 billion (US$51.9 billion), with year-on-year real growth rate of 4.7%.
Growth in the tourism market is regarded as one of the key factors underpinning GDP. Macau’s total inbound visitors for the full year of 2025 exceeded 40 million, setting a new historical record. Among these, international visitors totaled 2,755,474, representing a year-on-year increase of 13.7%.
In the gaming sector, gross gaming revenue increased by 9.1% year-on-year to MOP$247.4 billion (US$30.9 billion) in 2025, recovering to 84.6% of the 2019 level.
