Macau’s Payment Balance Surplus Soars Sixfold in 2023

Macau’s payment balance recorded a surplus of 136.7 billion patacas (US$17.1 billion) in 2023, nearly six times higher than the previous year, according to the Monetary Authority of Macau (AMCM). The surge is attributed to a dramatic increase in tourism and gambling revenue, as Macau reopened its borders after a period of strict COVID-19 restrictions. The region, known as the world’s gambling capital, witnessed a fourfold increase in visitor numbers, reaching 28.2 million in 2023. Casino revenues also surged, reaching 183.1 billion patacas (US$22.9 billion). While the trade balance remained in deficit, the substantial increase in tourism and gambling-related services significantly boosted the overall payment balance.