Macau economy to grow 19% in 2022, recovery to pick up in 2H: Fitch

Macau’s economy is expected to expand by 19 percent in 2022 as inbound tourism from China picks up in the second half, according to a note from Fitch Ratings.

The firm said it was basing its estimate on gaming revenue reaching about 44 percent of its pre-pandemic levels.

Fitch is maintaining its AA rating for the Special Administrative Region and said the outlook is stable.

“Fitch believes Macau’s key credit buffers will remain large even if the recovery in gaming tourism is more protracted than we anticipate,” it said, adding that the ratings are constrained by the city’s lack of economic diversification and high tourism dependence on China.

Source: https://agbrief.com/news/macau/07/04/2022/macau-economy-to-grow-19-in-2022-recovery-to-pick-up-in-2h-fitch/