Macau to become the world’s richest place on earth

Casino city Macau is on its way to become the richest place on earth. The IMF’s World Economic Outlook Update predicts that by 2020, the city will have the highest per-capita gross domestic product of any country or jurisdiction on earth. It will have overtaken the current leader, oil-rich Qatar.

The IMF expects continuing economic growth that make Macao leapfrog Qatar by 2020.

Macau is a semi-autonomous territory with its own system of governance and rule of law.

It is the only place in China where casinos are legal, attracting China’s rich. In IMF’s per capita GDP ranking of this year, Macau finished second behind Qatar ($128,702). Singapore was ranked fourth with $98,014, just behind Luxembourg ($110,870).

With a population of just over 650,000 packed into just 11.8 square miles, Macau is also the most densely populated territory on Earth.

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Macau is one of the world’s biggest gambling hubs. Macau’s casinos had some very profitable years, but have recorded losses in 2014.