Fitch says city avoids slowdown, credit resilient

2013-9-23

From：Macau Business

The economic slowdown in the mainland has not affected Macau, highlighting the city’s underlying credit resilience, Fitch Ratings says in it its latest report on the Macau economy.

Fitch says a stronger-than-expected economic performance means GDP growth this year may be above its GDP forecast of 8.5 percent.

One reason was the increase in tourist numbers. In the first seven months of this year, tourist arrivals were up 4 percent compared to the same period last year.

The rising importance of mass-market gaming has also helped insulate the economy from any downturn in VIP gaming, Fitch says.

Copyright@Macau Business