Macao - statistics & facts
Macao is officially known as the Macao Special Administrative Region of the People's Republic of China. It used to be a colony of Portugal until 1999, as the Chinese government assumed formal sovereignty over Macao. The city is a famous gambling hub in Asia, and the gaming industry is by far the most important economic sector in the city. During the COVID-19 pandemic, Macao saw a severe downturn in visitors, which had a devastating effect on the city's economy. After the lifting of pandemic related measures, however, the economy rebounded significantly in 2023.
