Plenty of work in Macau

[jetset]

MACAU BOOMING

22.9 percent increase in employment last year

The 538 000 strong resident population of the gambling island Macau, just of the coast of China, is experiencing definite improvements in employment prospects as the island's 29 casinos continue to pull in business and expand, reports Xinhua.

A survey result released this week showed that at the end of last (2007) year, there were 44 743 paid employees engaged in Macao's gaming industry, an increase of 22.9 percent year-on-year.

Among the employees, 30 486 were engaged in positions that are directly related to betting services, such as hard and soft count clerks, casino floor persons, dealers, while 5 341 were working as casino and slot machine attendants or hosts, security and surveillance workers, according to the Survey on Manpower Needs and Wages of the Gaming Industry, which was released by Macao's Statistics and Census Services (DSEC).

Gaming revenues in 2007 amounted to over 83 billion patacas (around US$ 10.3 billion).

Average monthly earnings (excluding bonuses and allowances) for full-time employees in the local gaming industry rose by 6.6 percent year-on-year to 14 899 patacas (US$ 1 862).

At the end of December 2007, Macao's gaming industry reported 3 411 vacant posts, a decrease of 2 220 from the same period of the previous year, according to the DSEC survey result.

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This boom has fuelled inflation and the average Macanese who is not engaged in the casino industry is finding it difficult to make ends meet. There are also concerns that young people with higher education are lured by the prospects of easy money such as working as croupiers and this is detrimental to society's moral values.

The hotel industry in Macau is also booming and over the past 2 years, they have lured many Hong Kong hotel staff there. Their salaries in Macau were also much higher than in Hong Kong. However, the trend has recently reversed as many are flocking back because of fatigue in working almost round the clock in hotels which are understaffed at various levels and has less efficient systems.

[jetset]

MORE GOOD NEWS FOR MACAU

Survey characterises Asian gambling island as "the richest place in Asia"

Following news of improved employment prospects recently (see previous InfoPowa report) Macau investors were buoyed this week by bullish predictions for the island and new numbers from the government. These showed that surging gambling revenue and investments in luxury hotels and the entertainment industry has made the former Portuguese enclave Asia's richest territory.

Macau has overtaken rivals such as Singapore, Brunei and Japan to take the top Asian spot after gross domestic product (GDP) per capita surged 27 percent to $36 357 last year, according to Macau government figures.

The results from the statistics and census service show that in US dollar terms, Macau, with a population of 538 000, is the world's 20th richest economy, the South China Morning Post reported. This puts the territory, which like Hong Kong is a special administrative region of China, ahead of Italy and just behind Germany and France.

The rise in per capita GDP was boosted by a 47 percent increase to $10.34 billion in gambling revenue last year. Investment bank Morgan Stanley has forecast gaming revenue will grow 23 percent this (2008) year and rise by about 20 percent per year in 2009 and 2010.

But while the improved growth figures may be good news for the territory's wealthy, it comes with a down side. The average Macau resident saw median monthly employment earnings rise by only 7.5 percent last year to about $1 020.

By comparison, inflation climbed by an annualised 9.5 percent in February, a 12-year high. Rent and medical expenses are rising at a faster rate, by 15.6 percent for rent and 24.2 percent for basic medical consultations.