Macau poised to overtake Qatar as world wealth capital

Qatar’s economy is expected to grow to $139,151 per person, on average, from now until 2020. It has a serious abundance of natural resources and has been smart with the income it has received. It has reinvested the profits and diversified its economy to become the world’s wealthiest spot. However, that could change soon, as the gambling mecca of Macau is catching up.

According to the International Monetary Fund (IMF), Macau’s gross domestic product has already more than tripled from the $34,500 average per person seen in 2001. However, it isn’t done growing yet and is expected to reach $143,116 per person by 2020, making it the new world leader.

This trend is expected to continue beyond 2020. The IMF predicts that, by 2023, the gross domestic product (GDP) per capita could reach as much as $172,681.

The wealth of the Asian version of Las Vegas is being driven by gambling. Gross gambling revenue reached $33 billion last year for a 19.2% increase over the previous year’s figures. This year is expected to be even better.

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The Daily Payoff
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