Macau will be world's richest

territory in 2020: IMF | New

Straits Times

By South China Morning Post

HONG KONG: Just when you thought it was safe to store

away the superlatives to describe its meteoric rise to the top of
world gaming, Macau is set to outdo itself by becoming the
richest place on the planet.

Fresh data from the International Monetary Fund (IMF)

predicted that by 2020, the city would overtake oil-rich Qatar
with the highest per-capita gross domestic product of any
country or jurisdiction on earth.

The IMF’s World Economic Outlook Update – published at

the end of last month – expected continuing economic growth
in the casino hub would see it leapfrog Qatar by 2020.

This year the IMF ranked Macau, with a US$122,489 per

capita GDP, second behind Qatar, for which it said the
equivalent figure was US$128,702. Singapore was ranked
fourth with US$98,014, just behind Luxembourg with
US$110,870 while Hong Kong took 10th place with a per
capita GDP of US$64,533.

However, by 2020, Hong Kong’s sister SAR – which

outstripped Las Vegas to become the world’s richest casino
destination several years ago – would become the richest
place in the world with a per capita GDP of US$143,116,
leaving Qatar, with a paltry US$139,151, in its wake.

The IMF forecast assumed a period of sustained growth which

would see Macau continue to open up a gap on its rivals until
2023.

However, Macau lawyer and social commentator Sérgio

1
Almeida Correia, wrote in his blog: “In terms of quality of life,
green areas, pollution, education, health, sport, renewable
energies, recycling of urban waste, hygiene and cleanliness of
public spaces, accessibility for disabled people, road cycling,
public transport might not rank quite as high by any means.”

With a population of just over 650,000, packed into just 30.8

sq km, Macau also holds top spot as the most densely
populated place on Earth, according to the United Nations.
The tight squeeze means the casino city has 21,322 people per
square kilometre packed into its bustling streets.

Hong Kong, the fourth most densely populated place on the

planet behind Monaco and Singapore, packs in 6,490 people
per square kilometre.

However, within its most dense areas, such as Mong Kok, the
population density is more than 120,000 people per square
kilometre, according to the Population Division of the United
Nations Department of Economic and Social Affairs.

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