Macao Tourism Recovery and Labour Market Trends (2009–2024)
According to the Government of Macao Statistics and Census Service, the median monthly employment earnings (MMEE) in 2009 stood at 8,500 MOP, rising to 18,000 MOP by 2024 — more than doubling in 15 years. During the same period, the unemployment rate fell from 3.6% to 1.8%.
Tourism as a Driver of Labour Market Shifts
Macao’s economy relies heavily on tourism and Integrated Resorts (IRs). Visitor arrivals surged prior to the pandemic, only to collapse between 2020–2022 due to COVID‑19 travel restrictions. By 2024, arrivals had rebounded to pre‑pandemic highs, signalling a robust recovery.
Unemployment Patterns Linked to Tourism
The unemployment rate hit a record low of 1.7% in 2019 before climbing to 3.7% during the pandemic. In 2024, it fell back to 1.8%, moving in tandem with the tourism sector’s recovery. Pearson correlation analysis revealed a strong negative relationship (-0.736) between visitor arrivals and unemployment — when tourism grows, unemployment falls.
Wages Show Long‑Term Growth
While tourism recovery clearly affects unemployment, its direct effect on wages is weaker (0.108 correlation). The MMEE maintained an upward trend throughout the period, dipping only slightly during the pandemic, partly due to government support measures.
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Correlation Insights
- MMEE vs Unemployment: Moderate negative correlation (-0.356).
- Unemployment vs Visitor Arrivals: Strong negative correlation (-0.736).
- MMEE vs Visitor Arrivals: Weak positive correlation (0.108).
Conclusion
Macao’s case shows a clear link between tourism performance and employment levels, while wage growth has been influenced by broader economic factors. As tourism stabilises post‑pandemic, Macao continues its trajectory as a global tourism hub with sustained income growth.
Data Sources
Government of Macao Statistics and Census Service (DSEC).
Andrea Pimpini has a BBA in Economics and Management from the University of Chieti-Pescara, and currently he’s a student of MSc in International Integrated Resort Management at the University of Macau. Andrea has won multiple erasmus+ scholarships and also taken courses offered by the CERGE-EI Foundation.
A big hobby of Andrea’s is music and, thanks to his college and web experiences, he manages everything on his own (print and radio promotion, digital marketing, etc.). Media success is not long in coming: in 2020, live streams are shared on national newspapers such as Sky TG24, alongside well-known names from the Italian music scene (Modà, Francesco Renga, Nek, etc.). In 2021, Billboard places Andrea at the top of a chart for 3 consecutive weeks. Finally, in 2022, Il Messaggero, one of the most popular and best-selling newspapers in Italy, interviews Andrea.