{"id":30001,"date":"2022-07-19T12:48:22","date_gmt":"2022-07-19T05:48:22","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=30001"},"modified":"2022-07-19T12:48:49","modified_gmt":"2022-07-19T05:48:49","slug":"cambodia-to-be-classified-as-the-new-asian-tiger-outpacing-its-neighbours","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/cambodia-to-be-classified-as-the-new-asian-tiger-outpacing-its-neighbours\/","title":{"rendered":"Cambodia to be classified as the new Asian Tiger, outpaces its neighbours"},"content":{"rendered":"

Industry experts believe that the Kingdom will soon join the ranks of the Four Asian Tigers<\/span><\/span><\/p>\n

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Cambodia is far from the recovering poor, undeveloped country that the rest of the globe perceives. VisualizeCreative\/Shutterstock<\/figcaption><\/figure>\n

Cambodia is among the fastest-growing countries in the globe, with <\/span>Khmer Times<\/span><\/a>\u00a0reporting that its economy has grown annually at an average of 7.7 percent between 1998 and 2019, and the volume of foreign investments has increased 138 times in the past decade.<\/span>\u00a0<\/span><\/p>\n

Foreign direct investments (FDIs) have soared to USD3.49 billion in 2019 and have expanded by 115 percent to USD7.59 billion in 2020, one of the best globally.<\/span>\u00a0<\/span><\/p>\n

At such pace, the President of the American Chamber of Commerce and Group CEO of Cambodian Investment Management Holdings Anthony Galliano is confident that Cambodia will be\u00a0the new \u201cAsian Tiger of the 21<\/span>st<\/span> Century\u201d.<\/span>\u00a0<\/span><\/p>\n

The Asian Tiger rank is granted to countries that have steadily showcased a high rate of economic growth since the 1960s, revealed <\/span>Corporate Finance Institute<\/span><\/a>. In the region, Singapore, Hong Kong, South Korea, and Taiwan have achieved the title and have been dubbed the Four Asian Tigers.<\/span>\u00a0<\/span><\/p>\n

Anthony said that the kingdom is currently on the same growth path and is far from the recovering poor, undeveloped country that the rest of the globe perceives. <\/span>\u00a0<\/span><\/p>\n

\u201cNow it is a lower-middle-income country and expected to attain upper-middle-income status by 2030, or even earlier by 2028,\u201d he told Khmer Times.<\/span>\u00a0<\/span><\/p>\n

More: Nowhere but up: Top trends that will shape Cambodian real estate in 2022<\/strong><\/a><\/p>\n

Below are some of the factors that bode well for the country\u2019s future:<\/span>\u00a0<\/span><\/p>\n