Why is Macau so rich? | CNBC Explains

Macau is projected to be the wealthiest place on earth by 2020. CNBC's Uptin Saiidi explains why.

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[chriss]

Because it's the only place where gambling is legal in ALL of China.

[schopen-hauer]

for those saying macau is poorer then hong kong show me images of ppl living in cages inside apartments like hong kong who had miserable living conditions, in macau you dont pay taxes, government pays you for living there 2000 bucks year.

[googleprofile]

Macau citizens receive money annually from the Macau government taxing casinos. Not only do this, but they also receive government scholarships/book fees for anyone who is studying abroad.
Macau citizens receive a lot of government benefits and that is mainly from taxes the government collects from the casinos.

[ZhangtheGreat]

Macau was once known as "China's Las Vegas."
Now Las Vegas is known as "The US' Macau."

[crg]

Macau will be first place for gamblers in Macau you win you pay no taxes 100% money is yours in Vegas you win you pay around 25% to 30% taxes.

[superbenbenhahaha]

It's rich because this is the only city in China where people can gamble legally

[heidiw]

i go to macau mainly for Portuguese custard tarts lol

[TechZG]

Just because the GDP is high doesn't mean that it reaches every person. Go to the old town, not "swanky" or "rich" at all, just normal. Most of the GDP probably goes into a few pockets

[onibi]

I am a Macau citizen and dead ass they give all Macau citizen 10000 dollars (in USD it is about 1.6 k dollars) every year and the best thing is every year they up it by 100 USD

[artemiss]

I’ve stayed in The Venetian twice on my family’s trip to Macau. It is easily the most fun place one can be.

[Kylelongwest]

Egg tart in Venetian was amazing. Even better than those made in Hong kong

[jacobcheung]

I've been to Macao several times. I want to say Macau really offer so many options for dining.

[LXKeemProductions]

It's ironic and strange how portugal was able to have colonies in the past, but ended up being a small country with no sagnificant powers in any field known to modern world (20-21 centuries)

[BTS-zqvy]

When I went there recently, the tour guide said that the average income was about MOP48k under Portuguese rule in 1999 and now has gone up to MOP180k under Chinese rule in 2018 (one-country, two-system works). I don't know if that is high or adequate but at least their average salary has gone up more than three fold in less than ten years. All schools raise Chinese National flags while only 18 schools in HK raise the Chinese flag. Macau people love Macau and China, they are proud to be Chinese. That's what I saw and learned while being there as a tourist.

[prakashmodak]

Video suggestion-
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[PeterChien]

Macau could be the biggest laundromat for China?

[theoutliers]

Video Suggestion:- Why there are so few Indian tech unicorns? When India is know through out the world for its IT & Tech Industry!!

[LHollan]

Macau and Brazil were the 2 most important colonies in Portuguese Empire, love them!

[dwimusudem]

2018 : Macau set to become richest place on Earth
2020 : Let me introduce myself

[bbfachleute]

The largest question for Macau is it’s tiny hope Macau could have more cooperation with its mainland siblings cities