The Heritage Foundation released today its 2016 Report on the Index of Economic Freedom, rating Macao’s economy as “mostly free” for the eighth consecutive year. The SAR’s overall score of economic freedom is 70.1, well above the world and regional averages, making its economy the 37th freest among 178 economies. In the Asia-Pacific region, Macao is ranked 9th out of 42 economies, same as the previous year, just behind Hong Kong, Singapore, New Zealand, Australia, Chinese Taiwan, Japan, South Korea and Malaysia.

Based on 10 attributes, the Report assesses the degree of economic freedom of individual economies around the world. Macao receives relatively high score in attributes such as government spending, trade freedom, investment freedom, fiscal freedom and financial freedom.

The Foundation’s 2016 Report says that Macao has attracted significant investment since opening up its gaming industry in 2002. Ever-growing investment in resort and entertainment projects and related infrastructure has made Macao one of the world’s leading tourism destinations. Macao largely maintains its own free-market economic structure.