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Macau Soars Ten Years After its Return to China

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저작물명
Macau Soars Ten Years After its Return to China
저작(권)자
저작자 미상 (저작물 2267374 건)
출처
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KOGL 출처표시, 상업적, 비상업적 이용가능, 변형 등 2차적 저작물 작성 가능(새창열림)
공표년도
창작년도
2009-12-15
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요약정보
With the tenth anniversary of its return to China fast approaching Macau finds itself packed with local Chinese and foreign tourists.
Macau‚ which had been under Portuguese rule for some 400 years‚ was returned to China on December 20th‚ 1999.
And since then‚ the region‚ which had been notorious for violent crimes in the past‚ saw a drop in its crime rate and a spike in its economic growth.
With the handover Macau has been cultivated into a casino venue overtaking Las Vegas in revenue three years ago and attracting some 23 million locals and tourists per year.
While Macau recorded negative economic growth for two consecutive years in 1998 and 1999 its rate of growth after its return to China has been hovering between 10 to 30 percent.
Its gross domestic product has also shown a significant increase recording a near 30-thousand US dollar jump over the past decade.
Experts attribute the positive economic growth to the government's release of gambling licenses to other companies in August 2001 that removed a casino monopoly in the region and created competition in the market.
This move attracted foreign investors‚ namely the Las Vegas Sands Corporation‚ which opened the Sands Macau Hotel in 2005 and the Venetian Macau Resort Casino in 2007.
And most local residents seem to be happy with the changes made over the last decade as a survey by the University of Macau indicates that 96 percent of respondents were satisfied with the development of Macau after its return to China.
Hwang Sung-hee‚ Arirang News.
Reporter : ssung86@arirang.co.kr
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