Macau bets on financial services, fintech to drive economic diversification

Macau has unveiled a sweeping five-year strategic blueprint to break its long-standing dependence on casino revenues by pivoting towards modern financial services, digital currency adoption and deeper economic integration with mainland China.

Under its third five-year plan for economic and social development, released on Tuesday, the gambling hub aims to boost the added value of non-gaming industries to about 60 per cent of gross domestic product by 2030, up from 56.7 per cent in 2024.

Gaming remains the bedrock of the local economy, generating MOP$67.9 billion (US$8.4 billion) – or more than 80 per cent of Macau’s total public revenue – in the first seven months of the year. But authorities are pushing to lay stronger foundations for a more diversified growth model.

The policy document outlined four flagship infrastructure projects and a new government-backed fund designed to accelerate growth across priority non-casino sectors, including modern finance, healthcare, advanced technology and the convention industry.

As part of its financial modernisation push, the road map emphasised digital currency adoption and cross-border payment systems. According to the document, Macau would press ahead with legislation and controlled trials for its official digital currency, the “e-MOP”, while establishing a unified settlement system.