Macau in race to become richest

Qatar is on track to lose its status as the richest place in the world to the Chinese gambling enclave of Macau.

The global casino hub’s economy will reach the equivalent of about $143 116 (about R2.1 million) per person by 2020, according to projections from the International Monetary Fund.

That will put Macau ahead of Qatar, which will reach $139 151. Macau’s GDP has more than tripled from about $34 500 per capita in 2001, the IMF data shows. – Bloomberg