The "Mirror Sea" - Macau China
Summary
- Macau is best known for its casinos and hotels.
- Macau's revenue comes from tourism, which brought in over 8 billion dollars in the year 2007.
- Macau was under Portuguese control since 1557; however, it was given back to China in 1999.
- Like Hong Kong, China has agreed to let Macau's economy stay intact for at least fifty years.
- Before 1999, Macau was not able to attract tourists because of local gangs fight to control territory on the island.
- Since the year 1999, China has invested over 20 billion dollars in Macau.
A little history of Macau...
If you ever step foot into Macau, do not think how small the city is but how much you can win. That's right. Macau is best known for its hotels and casinos.
In 2006, Macau surpassed Las Vegas as the gambling capital of the world. With over 8 billion dollars in revenue in 2007, Macau exceeded Vegas revenue which was only 6 billion.
Macau was under Portuguese control since 1557. After 1999, it was giving back to the Chinese government but under some conditions. Sorry, I do not know all of the conditions; however, one of the most important conditions was that China has to guarantee that the economic system in Macau will remain the same for the next fifty years.
The majority of the Macau economy relies on tourism, but Macau was not doing so great before 1999. The problem was due to the gangs on the island. The land was constantly getting attacked by the local gangs fighting for control, which in turn, scared away the visitors.
In the year 1999, when the Chinese government took over, they invested over 20 billion dollars in casinos and hotels on the island. As a result, the number of tourists boosted to 25 million in the year 2007, which was an increase of well over 15 million visitors since 1999. Because of this investment, Macau has about 25 casinos and hotels combined.
As you try to find Macau on the map, you might not miss it but then again it only consists of a peninsula and two islands. Macau is located very close to Hong Kong.
You may ask if Hong Kong located so close to Macau, why they do not have any casinos. The reason is that when British occupied Hong Kong, gambling was forbidden on their land. However, gamblers can do anything they please in Macau.
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