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Macau's basic business climate hasn't changed since China regained control over the territory. Macau' local government retained a high degree of economic autonomy and is presently privatizing the cellular phones, aviation and gambling industries.
Most Macanese are ethnic Chinese and speak Cantonese. Portuguese, the local Macanese dialect and English are also spoken. Hong Kong dollars are widely used here. US dollars
are also accepted in major hotels ( 1 US dollar = 8 Patacas). The Patacas are pegged to the Hong Kong dollar and inflation has remained in check after the handover. ATM's are widely available
Tourism and Gambling are Macau's biggest industries. Macau has eight 5 star hotels with
new resorts under construction on the island of Taipa. Just an hour away via Hydro Foil
from Hong Kong, Macau continues to be a gambling mecca.
After the handover in 1999, most gang violence has subsided and reportedly so has official corruption. In the past, gang violence seemed targeted to other gangs or members
of the triad. Counterfeits are still a problem especially in certain stores catering to
tourists.
Macau is a young country with about half the population of 450,000 under the age of 44.
Younger Macanese understand English and have certain Mediterranean influence. Some
students complete their college degrees abroad. About half the population practice
Buddhism while the other half is mostly non-religious. In general, controversial issues
should not be addressed in public or with strangers.
Telephone service is widely available and there are over 30,000 Internet subscribers.
(roughly ¼ of the population is online)
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