At present, most developed countries with a Great purchasing power and very high PBIs, they are usually nations avocado to technology and scientific development. Others, like Monaco, They are dedicated to tourism and live from offering a lifestyle full of luxuries.
This is the case of Macao, An autonomous region of the southern coast of continental China that bases almost all its economy on the game and casinos. Your establishments full of lights and chips They won the reputation of being “Las Vegas de Asia“, but its beginnings were much more difficult.
Its beginnings as a colony
Macao’s story goes back to prehistoric times, with the presence of Indigenous peoples In the region. However, it was from the fifteenth century when the Portuguese explorers. The first European contact with Macao took place in 1513, when the Portuguese, headed by Jorge Álvaresthey reached the southern coast of China.
Throughout the following decades, it began to be one of the first European commercial bases In Asia. In 1557, it was established as a permanent Portuguese settlement, although under the nominal control of the Ming Ming dynasty. Despite being a Portuguese colony, Macao operated under a special agreement with China. During this time, Macao became a Commerce port between the East and West.
From the nineteenth century, Macao began to lose part of its commercial relevance due to the growth of Hong Kongwhich became a British colony in 1842. In addition, internal tensions and conflicts with China. In 1887, the Asian giant Macao formally yielded to Portugal through a lease agreement.
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Macao’s economy
He December 20, 1999Macao was officially transferred from Portugal to China, becoming a Special Administrative Region (RAE) of the People’s Republic of China. Since then, it maintains a high degree of autonomy, with its own legal system, currency, called Pataca, and immigration policies. This brought the real economic growth.
Macao is currently known as the “game capital“From Asia. The Macao government liberalized the casinos industry in the early 2000s, which attracted great International operators and professional competitors. This rise of tourism brought huge income For the region.
In addition, the government invested in the Infrastructure development And tourist attractions, turning Macao into a world -popular tourist destination, with luxury resortsinternational events and a growing number of tourists visiting the city, especially Continental China.
Source: Ambito
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