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About 22% over the next decade

Leading to increased discretionary spending along with many consumer sectors, including casino gambling.

According to the latest survey conducted by brokerage firm Sanford C Bernstein and the company, about 4.7 million residents of mainland China have taken home that amount. However, the survey is expected to show that the money-making population will reportedly increase by about 28% over the five years to reach 16.2 million before reaching 35 million.

Sanford C Bernstein & Company reportedly collaborated with management consulting firm EIU Canvac to conduct a study by analyzing the amount of cash currently used in luxury goods such as alcohol, cars and games. It ultimately defined people who earn more than $3,794 a month as 'high-intensity premium consumers' and explained that increasing their numbers could ultimately lead to more cash being spent inside many casinos and shopping malls in Macau.

The 15-year master plan, recently announced by the Macau Government Tourism Authority, is expected to total $14 billion a year for non-game activities by visitors to the former Portuguese enclave by 2025.

However, research from Sanford C Bernstein and Company also reportedly advised that Chinese President Xi Jinping's recent anti-corruption drive has 'expanded significantly in recent months' and could 'impact premium spending' across several sectors, including VIP gambling.

Beijing's stance on current and future economic policies could be made clearer by the Communist Party congress scheduled for the next five years in Beijing.
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Thursday, March 14, 2024
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