Macau | MSAR ranked 9th in Asia’s freest economies list

Macau (MNA) – The Macau SAR (MSAR) is rated as a ‘mostly free’ economy in the 2018 Report on the Index of Economic Freedom released by the Heritage Foundation. The MSAR ranked 34th in the global ranking and 9th on the Asian countries list.

The top three positions for both global and Asian rankings are headed by Hong Kong, Singapore and New Zealand.

Macau increased its score in this year’s report by 0.2 percentage points to 70.9. The report states that the progress in the score was due to ‘small improvements in the tax burden and monetary freedom indicators.’ Finance, insurance, and real estate indicators also saw progress.

The report also highlights that the ‘entrepreneurial environment is generally efficient and streamlined, and property rights are generally respected’.

On the other hand, the report says that the territory ‘continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, and the need to diversify the economy and reduce its dependence on gaming revenues’.

Regional Ranking

  1. Hong Kong
  2. Singapore
  3. New Zealand
  4. Australia
  5. Chinese Taiwan
  6. Malaysia
  7. South Korea
  8. Japan
  9. Macau
  10. Vanuatu