Economy, Sands Macau

From 9.1 million visitors in 2000, arrivals to Macau has grown to 18.7 million visitors in 2005, 21.98 million visitors in 2006 and is expected to receive between 24 and 25 million visitors in 2007, with over 50% of the arrivals coming from mainland China. This recent growth has been driven by gambling and related tourism. Macau also received the Future Award 2007, for being regarded the most promising future tourism destination in Asia, voted by 26,000 German travel trade members of GoAsia; an association that includes tour operators, airline companies, among many others. Macau has been currently rated as one of the world's top tourism destinations by the World Tourism Organization.
Since 1850, gambling has been licensed and has always been an important source of earning for the government. In the early 1960s, gambling provided 50 percent of official revenue. Starting in 1962, the gambling industry had been operated under a government-issued monopoly license by Stanley Ho's Sociedade de Turismo e Diversões de Macau. The monopoly was ended in 2002, and several casino owners from Las Vegas attempted to enter the market. With the opening of the Sands Macau, the largest casino in the world as measured by total number of table games in 2004. Gambling revenues from Macau's casinos were for the first time greater than those of Las Vegas Strip (each about $6 billion), making Macau the highest-volume gambling centre in the world.