Cambodia targets 1.5 to 2 million foreign tourists by year-end

The country welcomed 1.2 million international visitors from January to September 2022

Cambodia’s economy is estimated to grow at a rate of 4.8 percent this year and 5.2 percent next year, reported Xinhua. 

Based on data provided by the World Bank, the country’s travel and tourism sectors have performed well post-pandemic, and that total foreign tourist arrivals reached 1.2 million by September 2022.

Moreover, business and consumer confidence have also recovered with the influx of domestic and foreign investment. 

“Revenues are up, thanks to the economic recovery and administration improvements,” said Mariam Sherman, World Bank country director for Cambodia, Myanmar, and Laos. “Broadening the tax base will help ensure the resources needed to promote Cambodia’s economy and weather slowing growth among major trading partners.”

Among the areas with the most potential for growth are tourism and hospitality.

The country welcomed 1.2 million international visitors from January to September 2022, up 861 percent from the same period last year.

The target for this year is 1.5 to two million foreign tourists, according to the Khmer Times.

More: Cambodia expects to welcome 2 million foreign tourists and 11 million domestic tourists by year-end

“Cambodia’s tourism sector has significantly recovered and is forecast to attract about seven million international tourists in 2026 or 2027, and up to 7.5 million in 2028,” said Secretary of State of the Ministry of Tourism Top Sopheak recently.

The tourism sector’s recovery is supported by 57 percent YoY surge in global passenger traffic, or 74 percent of pre-pandemic levels based on the International Air Transport Association’s (IATA) September 2022 report.

There was also a 456 percent YoY growth in travel in the Asia Pacific region.

As one of the strongest markets within ASEAN, Thailand anticipates 10 million tourists in 2022.

Travel in Southeast Asia appears to be doing well overall. An online tourism booking site in Singapore has reported a 300 percent increase in quarterly revenue, with searches on its platform up 140 percent YoY.

The Property Report editors wrote this article. For more information, email: [email protected].