Study on the Moderate Diversification of Industrial Structure in Macao

Lu, Pingping

doi:10.4236/ajibm.2016.62017

Cited by 5 publications

(6 citation statements)

References 2 publications

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“…In the Philippines, casinos cannot be compared with those of Macao, but the state applies other attractive strategies, like lower tax rates for the casinos. Telephone betting also is allowed in many casinos [54]. The expansion of gambling legalization in the U.S.A. and Australia will also affect Macao's economy in the future.…”

Section: Future Problems and Obstacles At The Powerful Macao Model Economymentioning

confidence: 99%

“…Although the swift economic growth of Macao was a remarkable phenomenon, data and statistics show that since 2015 the situation does not seem good. Gambling does not have any more the past glory, and it has been considered 'guilty for the worst economy of the world' [54]. The consequences of this depression on the gambling industry are evident, and a lot of scholars are speaking for needful changes in the economy model towards sustainable development.…”

Section: B Need For Sustainable Developmentmentioning

confidence: 99%

“…That was the 'Achilles heel' of Macao's economy. According to Piao Zhenzi [54], Macao's new sustainable economic model must put emphasis on its main enterprising force: small and medium-sized enterprises. It has to support them and build a new regional form of economy, characterized by vigorous vitality and social stability, obtaining this way a sustainable and stable development.…”

Section: B Need For Sustainable Developmentmentioning

confidence: 99%

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Gambling Tourism and Economic Development: Some Lessons from Macao

Metaxas¹,

Folinas²

2021

jefms

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This article aims to explore and document the relationship between forms of alternative tourism and economic development. More specifically, the subject of this investigation will be whether a small national economy is able to rely wholly or largely on tourist flows as a source of income and even to invest in a single type of tourism. Alternative forms of tourism, gaming tourism as well as the features of territorially limited countries and how they are linked to the case of Macao will also be objects of study and annotation. With the process of text production through scientific articles, statistical data, and reliable databases, this article attempts to satisfy the investigated relationship as well as the stemming questions.

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Section: Future Problems and Obstacles At The Powerful Macao Model Economymentioning

confidence: 99%

Section: B Need For Sustainable Developmentmentioning

confidence: 99%

Section: B Need For Sustainable Developmentmentioning

confidence: 99%

See 1 more Smart Citation

Gambling Tourism and Economic Development: Some Lessons from Macao

Metaxas¹,

Folinas²

2021

jefms

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“…From internal environment, multiple voices on diversification are found in different channels, supporting to develop more nongambling elements in Macau. In academic world, local and global researchers highlighted the importance and urgency for Macau to promote nongambling elements (Liu et al, 2015(Liu et al, , 2020aLu, 2016;Sou et al, 2016;Greenwood and Dwyer, 2017). In response, the Macau government also put it into action.…”

Section: Source(s)mentioning

confidence: 99%

Macau gambling industry's quick V-shape rebound from 2014 to 2019

Liu¹,

Dong²,

Chang³

et al. 2020

APJML

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PurposeThe purpose of this study is to summarize the factors that result in V-shape rebound of Macau gambling industry's from 2014 to 2019. Both internal and external factors are examined and discussed by representatives from academia, industry and government.Design/methodology/approachPractitioners from the gambling industry offered their cutting-edged analysis and viewpoints with observation and comments from scholars and government representatives in gambling domain.FindingsInternally, actions are taken by both the Macau government and Macau casino operators to rebrand Macau with nongambling elements and to adjust the strategies to attract more tourists from a wider range. Externally, global economic upturn and support from the China government also enhance Macau's quick rebound. A total of nine key factors are finally recognized.Originality/valueThis study provides answers and sense-making explanations to why Macau gambling industry can recover in such a short time after a big drop in Gross Gambling Revenue in 2014. This work reveals that Macau, by learning the lessons from the dramatic decline, conducts various self-rescue action plans which contribute to the quick V-shape rebound. This study is also a self-examination of Macau gambling industry from the firsthand perspectives of scholars, government representatives and casino management.

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“…The Macao government also announced its policy spindle for gambling industry development, "adjustment of the appropriate scale of gambling industry" [7,9]. Recently, some researchers have studied the sources of threats and challenges to Macao's economic development [11,17], the ways Macao's economy is developing and diversifying [11,13,14,17,18] and sustainable tourism development in Macao [12]. They supported the development of moderate economic diversification and agreed that by controlling the scale of the gambling industry, more resources could be unlocked and reallocated to non-gambling industries [19].…”

Section: Introductionmentioning

confidence: 99%

Sustainable Development for Small Economy and Diversification from a Dominant Industry: Evidence from Macao

et al. 2019

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While the Macao gambling industry has developed prosperously, its rapid development raises a problem of economic dependence on gambling that restricts economic diversification and causes a sustainable issue of non-gambling industries. In recent years, regulating and controlling the appropriate scale of the gambling industry have been regarded as a solution for sustainable economic development. Consequently, it is quite important to give a quantitative scale to the future development of the gambling industry. This study aims to estimate the appropriate scale of the gambling industry under the expectation of the optimal development of moderate economic diversification in Macao. This study employs the method of Measuring Economic Diversification in Hawaii in 2011 to evaluate the levels of diversification of Macao’s economy. A Data Envelopment Analysis (DEA) efficiency calculated by a bootstrapping model is applied to obtain the operational efficiency of Macao’s gambling industry. A transition probability matrix in three scenarios is predicted by expert interviews and industry interviews. The appropriate scale of Macao’s gambling industry until 2021 is forecasted by Markov chain. The predicted result shows that the growth rate of gambling will not exceed 3% in terms of achieving the goal of optimal developing moderate economic diversification in Macao.

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Study on the Moderate Diversification of Industrial Structure in Macao

Cited by 5 publications

References 2 publications

Gambling Tourism and Economic Development: Some Lessons from Macao

Gambling Tourism and Economic Development: Some Lessons from Macao

Macau gambling industry's quick V-shape rebound from 2014 to 2019

Sustainable Development for Small Economy and Diversification from a Dominant Industry: Evidence from Macao

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