Cambodia is fast becoming a new “Asian Tiger.”
Reports are singing the praises of Cambodia. Prior to the pandemic, the country’s economy was benefited by strong tourism and a booming garment industry. But when tourism fell due to COVID, the government took the opportunity to make smart and strategic investments.
First, Cambodia invested in securing the health of their people. The vaccine adoption rates there are enviable to most other countries. Second, they invested heavily in infrastructure projects to improve transportation, set in motion growth plans for expanded industry and created a path towards a digital transformation.
Cambodia’s past success with fast economic growth and poverty reduction is a harbinger of success of these plans. Helped by its success in managing the impact of the pandemic as well as participation in ASEAN and RCEP, the world should take notice.
International Living website just ranked Cambodia 2nd in Asia and 14th globally for best place to retire in 2022.
Asia Times recently published a thorough article on what to expect from Cambodia in 2022
The Asian Development Bank is estimating 5.3% economic growth in Cambodia in 2022