Cambodia’s economy grew robustly by 5 percent in 2023 with tourism and supporting service activities as well as non-garment manufacturing industries as the main drivers of growth.
As part of the AREO’s outreach campaign, Cambodia Development Resource Institute (CDRI) and AMRO are pleased to co-organize the seminar, AREO 2024 Cambodia Outreach Seminar: Navigating Tomorrow.
The ASEAN region is expected to benefit from a combination of these favorable factors, with growth in 2024 and 2025 forecast at 4.8 and 4.9 percent, respectively while growth in the Plus-3 region is expected to remain robust at 4.3 and 4.1 percent, respectively.
The tourism sector has long been a linchpin of Cambodia’s economic growth and employment.
2023 was a challenging year for Cambodia’s real estate sector, marked by a decline in construction projects, excess supply, and low demand. The sustained downturn also triggered an alarm on shadow banking activities.
Cambodia is one of the few countries in ASEAN+3 that does not have a deposit protection scheme. The time is ripe for one to be established.
Cambodia’s economy is expected to continue its gradual recovery path.
Cambodia’s economy is projected to grow by 5.3 percent in 2023 and 6.2 percent in 2024, continuing its gradual recovery.
Cambodia’s economy continues to recover solidly on the back of a strong rebound in the services sectors.
Cambodia’s economy had been growing remarkably in the last decade before coming to a sudden stop due to the COVID-19 pandemic. While Cambodia is now on a good recovery path, some indicators suggest long-term external vulnerability.
