Thursday, April 6, 2023
China’s optimization of its anti-COVID-19 plan and recommencement of its outbound group tripspreviously this year is expected to provide a shot in the arm to Cambodia’s tourism and economy, said the Asian Development Bank (ADB).
The economy of Cambodia is expected to develop 5.5 percentthis year and 6 percent in 2024 toward a morestrong tourism revival and higher progress in the service division, the bank stated in its report.
The economy of the Southeast Asian country traditionally depends on tourism, footwear,garment, and travel merchandises export, along with building and real estatein addition to agriculture.
JyotsanaVarma, theADB country director for Cambodia said that in spite offeeblerinternational demand, Cambodia’s economy has continued to dofinewith the continuing tourism recovery.
Varma said that Cambodia’s financialstand is optimistic with healthy growth, lesseningpresent account shortage and reasonableprice rises in 2023.
The report said that service progression will endure to be propelled by continuing tourism retrieval, anddevelopment in services is expected to quicken to 7.3 percentthis year before relaxing to 6.8 percent in 2024.
This would be led by stronger tourism progressestimatedafter the easing of COVID-19 limitations in China, which is the largest tourism market ofCambodia.
