Macau recorded GDP growth of 18.8 per cent for the first quarter, thanks to a construction boom and a strong increase in casino revenue.
Last year, first-quarter gross domestic product growth was 7.8 per cent over the same period in 2004.
Macau's gross fixed capital formation - business investment in fixed capital assets - soared by 68.1 per cent in the first quarter on the back of the construction boom, with total construction investment rising by 94 per cent over the same quarter last year.
With the launch of 260 new gaming tables, the first quarter's gaming revenue rose 14.9 per cent over the same period last year. There are now more than 1,700 tables. The tourism industry recorded strong growth of 19.9 per cent in the first quarter, due to increases in both the number of travellers and per capita tourist spending.
Visitor arrivals totalled 5.2 million in the first quarter, up 17.7 per cent on the same period last year. Per capita tourist spending for January-March rose by 5 per cent over the same quarter last year to 1,562 patacas.
Government economist Lao Pun-lap said the higher-than-expected quarterly GDP growth may result in a double-digit GDP growth rate for the year.
