With new casinos opening up at a furious pace, Macau has also been swept up in a wave of speculation in recent years.
The luxurious Venetian Resort Hotel Casino opened in August, adding to the already massive revenue generated by gambling in the former Portuguese enclave.
Raking in US$6.95 billion in gambling revenue last year, Macau has overtaken Las Vegas for the title of international gaming mecca. The famous US gambling destination only collected US$6.69 billion in revenue last year.
However, the boom has also brought social problems to Macau.
The number of people addicted to gambling has risen sharply and an exodus of young workers from non-gaming sectors to casinos and hotels has created a severe labour shortage, particularly in the education sector and civil service. Attracted by high salaries and bountiful perks, young graduates prefer to work in casinos and hotels.
Soaring land prices have also given rise to property speculation and a bubble in luxury residential complexes.
