The total income of local residents in Macau rose 9.4% year on year to MOP 392.81 billion in 2024

The Zhitong Finance App learned that according to data from the Macau Statistics and Census Bureau, the total income of local residents in Macau in 2024 increased 9.4% in real terms to 392.81 billion yuan (MOP, same below), 4.75 billion yuan less than the gross domestic product calculated at current prices in the same year ($397.56 billion), reflecting a net outflow of external factor earnings. The total income per capita of local residents in Macau for the year was 572,614 yuan, and the per capita gross domestic product for the same year was 579,533 yuan.

Benefiting from overseas marketable securities investment income ($35.55 billion) of local enterprises and investors in Macao in 2024, the total inflow of external factor income (income earned abroad by local residents in Macau) increased 3.0% year over year to $111.77 billion. Among them, income from reserve asset investment ($10.29 billion), direct investment income ($1.48 billion), and employee compensation ($140 million) also increased by 14.1%, 75.6% and 122.1%, respectively.

On the other hand, the total outflow of external factor earnings (income earned by non-local residents of Macau) fell 2.5% year over year to $116.52 billion, mainly due to an 8.4% drop in income from other domestic investments by foreign enterprises and investors ($38.20 billion).

As exchanges between Australia and Qin became more frequent, in 2024, Macau enterprises and investors obtained a total revenue of 760 million yuan in the Hengqin Guangdong-Macao Deep Cooperation Zone (hereinafter referred to as the Cooperation Zone), mainly direct investment income (620 million yuan) and employee compensation (140 million yuan). In the same year, direct investment income from enterprises and investors from the Cooperation Zone in Macau was 0.3 billion yuan, causing Macau to record a net inflow of 730 million yuan in factor revenue to the Cooperation Zone, an increase of 2.0% over the previous year.