Construction in Macau - Key Trends and Opportunities (H1 2021)
|出版日期||內容資訊||英文 24 Pages
|澳門的建設產業:主要趨勢與機會(2021年前半期) Construction in Macau - Key Trends and Opportunities (H1 2021)|
|出版日期: 2021年06月30日||內容資訊: 英文 24 Pages||
Macau's construction industry is estimated to have shrunk by 15.4% in real terms in 2020, owing to the outbreak of the Coronavirus (COVID-19) pandemic and its impact on consumer and business confidence and government revenues. According to Macau's Statistics and Census Service (DSEC), the total gross fixed capital formation in the construction industry fell by 15.4% in 2020. Macau was one of the first regions outside China to start a gradual tourism lockdown in January 2020; this has heavily weighed on government revenues and the economy, which is heavily dependent on the gambling and tourism sectors, with the casino sector representing over 70% of the region's tax revenue and employing one-fifth of the active workforce in Macau. The fall in government revenues is expected to have weighed on spending on public infrastructure projects last year.
GlobalData expects Macau's construction industry to expand by 13.2% in real terms in 2021, supported by the government's focus on investing on public infrastructure projects to boost domestic demand. Planned expenditure on public infrastructure works this year amounts to MOP18.5 billion (US$2.3 billion), including projects in the transport, institutional and public housing sectors. In a positive development, the government has announced various incentives and stimulus measures to revive the struggling tourism sector. Tourists from mainland China have been permitted to travel to Macau since September 2020, and this is expected to gradually boost tourist arrivals and tourism revenues in Macau, supporting the economic revival this year.
The industry is expected to register an annual average growth of 4.4% between 2022-2025, supported by investments on transport, housing, institutional and commercial infrastructure projects. Some of the projects which will be executed over the forecast period include the fourth Macao-Taipa cross-harbor bridge project, public housing projects, the central laboratory building in the future Islands hospital and an athlete training center project. In another positive development, the total value of domestic loans awarded to the private sector for construction and public works continued to rise in the first quarter of this year. According to the DSEC, it registered a year-on-year (Y-o-Y) growth of 17% in Q1 2021, following an annual growth of 20.5% in 2020.
This report provides detailed market analysis, information, and insights into Macau's construction industry, including -
This report provides a comprehensive analysis of the construction industry in Macau. It provides -