An Asian Development Bank (ADB) survey says Macao ranks third in
per capita real GDP among 23 " developing economies" in Asia and
the Pacific, only after Brunei and Singapore, the Macao Daily
News reported on Wednesday.
ADB's 2005 International Comparison Program (ICP), released on
Monday, showed that Macao's per capita real GDP in that year stood
at 211,907 HK dollars (27,175 U.S. dollars), as against 202,941 HK
dollars (26,025 U.S. dollars) in Hong Kong.
But the ICP survey also tags Macao as the third costliest place
to live, only after Fiji and Hong Kong in the region. In terms of
per capita actual final consumption expenditure (AFCE), Hong Kong
still appears as the biggest spender with its AFCE of 125,303 HK
dollars (16,069 U.S. dollars) as against Macao's 67,160 HK dollars
(8,612 U.S. dollars), ranking fifth in the survey.
Although Macao's booming gaming industry has contributed to the
spike of its per capita GDP, most civilians still saw their
salaries stay in low level, which resulted in its low AFCE, the
newspaper quoted Dominic Sio, board chairman of Center of Strategic
Research for Development of Macao, as saying.
Sio also pointed out that the government should make effort to
turn Macao into a knowledge-orientated society like Hong Kong, the
population of which comprises a large number of well-educated and
affluent middle classes.
The survey is part of a global initiative spearheaded by the
World Bank that allows cross-country comparisons of purchasing
powers of currencies and living standards.
(Xinhua News Agency December 12, 2007)
