Logo of Phnom Penh Post newspaper Phnom Penh Post - US investors look into tourism opportunities in Cambodia

US investors look into tourism opportunities in Cambodia

Content image - Phnom Penh Post
A US delegation of investors met with Ministry of Tourism senior officials on Monday. FRESH NEWS

US investors look into tourism opportunities in Cambodia

US investors are eyeing opportunities in Cambodia’s tourism sector, while the number of US visitors in the country remained low and is declining, said the Ministry of Tourism.

Data from the Ministry of Tourism said US visitors who travelled to the Kingdom accounted for only 3.7 per cent of the total number of foreign tourists in the first nine months of the year.

The US’ interest was expressed on Monday during the meeting between investors from that country and the ministry’s senior officials.

The US delegation was led by Honorary Consul of Cambodia to California, US, Hout Kim Chha and LA Port representative Norman Arikawa in a bid to boost US-Cambodia tourism and trade investments.

Ministry of Tourism spokesman Top Sopheak said that US investors had expressed interest in the tourism sector in Cambodia, including investment in infrastructure, hotels, setting up direct flights, and training human resources.

“I think that coming to explore investment opportunities is a good sign which is in line with the government’s policy of opening to local and international investors to contribute to the development of tourism,” he said.

“This is a great opportunity for Cambodia to showcase its potential tourism destinations, which is attractive to foreign investors,” he said.

In the first nine months of this year, some 177,691 US tourists came to Cambodia, down two per cent from the same period last year, Ministry of Tourism data said.

Last year, Cambodia received about 250,000 US tourists. The US is ranked at sixth place among international tourists, said the ministry’s report.

Its under-secretary of state So Visothy said: “We have progressed in the tourism sector and the government’s vision to transform Cambodia into an attractive international destination.”

Cambodia has a long-term vision of achieving seven million foreign tourists by 2020 and 15 million by 2030, he said.

“In order to achieve this growth, the Kingdom needs to develop infrastructure, new tourism products and strengthen its human resources, especially to create more direct flights.”

Cambodia Association of Travel Agents president Chhay Sivlin is optimistic that US businessmen will invest in the Kingdom’s tourism sector, given the country’s political and economic stability.

“This shows that they notice the potential of our tourism sector, and our progressive development and political stability. This will boost tourism growth as well,” she said.

The ministry’s report said in the first nine months of the year, Cambodia received 4.81 million foreign tourists, an increase of 10 per cent over the same period last year.

Chinese tourists topped the list of foreign visitors in recent years.

MOST VIEWED

  • Ministry requests school opening

    The Ministry of Education, Youth and Sport on Thursday said it would request a decision from Prime Minister Hun Sen to allow a small number of schools to reopen next month. Ministry spokesman Ros Soveacha said if the request is granted, higher-standard schools will reopen

  • Kingdom eyes India FTA, China deal set for August

    Cambodia is studying the possibility of establishing a bilateral free trade agreement (FTA) with India to open a new market with the second-largest regional economy. This comes as an FTA with China is scheduled to be signed next month while similar negotiations with South Korea

  • Judge lands in court after crashing into alleged thief

    Sen Sok district police on Thursday sent a Koh Kong Provincial Court judge to the Phnom Penh Municipal Court on manslaughter charges after he crashed his car into a woman riding a motorbike on Wednesday, killing her. District police chief Hour Meng Vang told The

  • Gov’t to boost Siem Reap tourism

    The Ministry of Tourism released the results of an inter-ministerial committee meeting concerning Siem Reap province’s Tourism Development Master Plan for 2020-2035 on Wednesday, revealing the government’s plan to improve the overall tourist landscape there. The meeting was attended by Minister of Tourism

  • Residents ordered to remove structures on Phnom Penh’s canal

    Phnom Penh municipal governor Khuong Sreng has ordered authorities to act against the perpetrators who built houses along the Luo 5 canal in Meanchey district. The municipal administration plans to create a committee to solve the matter. The order was given on Wednesday while Sreng led

  • ‘On the offensive’: Cambodia to load up on loans to stimulate economy

    As the dust settles on the economy, Cambodia comes to grips with what needs to be done to turn the economy around, starting with a big shopping list for credit ‘We are going on the offensive,” Vongsey Vissoth, Ministry of Economy and Finance permanent secretary

  • Government set to make up for cancelled April holiday

    The government is set to make up for a five-day Khmer New Year holiday late this month or early next month. The holiday was earlier cancelled due to the onset of Covid-19. The announcement is expected on Friday as the government is studying a range

  • Families told to register for cash handouts

    The government has called on poor families to apply to commune authorities for evaluation to receive financial support during the Covid-19 crisis. A $300 million budget has been planned for implementation within a year. Ministry of Economy and Finance secretary of state Vongsey Visoth said this

  • Crumbling prices, rent ruffle condo segment

    The prolonged decline in international arrivals to Cambodia intensified by renewed Covid-19 fears has driven down condominium sales prices and rental rates in Phnom Penh, a research report said. CBRE Cambodia, the local affiliate of US commercial real estate services and investment firm CBRE Group

  • Over $3M in traffic fines collected in two months

    Traffic police officers collected over $3 million in fines throughout the Kingdom during the past two months when officers strictly enforced the law in accordance with a May sub-decree, officials said. As incentives, law enforcement officers received between 200,000 and two million riel ($50 to $500) each. The figures