*GDP(1): Cambodia has many different numbers of GDP growth for 2009. Here is GDP growth predictions for this year from different sources:
International Monetary Fund (IMF says it will revise its forecast downwards)
Asian Development Bank
Sam Rsinsy Party
Economist Intelligence Unit
Reasons of low growth:
– Prime Minister Hun Sen: “the current financial crisis and global economic downturn”
– EIU: “Demand for Cambodia’s exports, especially garments, will be hit by the downturn. Tourism, a major source of growth in recent years, will suffer too as consumers elsewhere in the world cut back on travel and holidays”
History of GDP growth in the last 5 years:
– 2005: 13.4 percent
– 2006: 10.8 percent
– 2007: 10.2 percent
– 2008: 7 percent
Cambodia had also accumulated up to US$2 billion in international currency reserves by 2008.
–Garment sector(2): It is the largest export for nation. The total garment exports in 2008 stood at 3.15 billion U.S. dollars, a 7 percent rise over that of 2007, 2.937 billion U.S. dollars.
U.S., EU and Canada were the top three importers of Cambodian garments in 2008.
- U.S.: worth 1.95 billion U.S. dollars in 2008, rising 1.999 billion U.S. dollars in 2007
- EU: worth 631 million U.S. dollars in 2008 over 599 million U.S. dollars in 2007.
- Canada: worth 202 million U.S. dollars in 2008 over 154.5 million U.S. dollars in 2007.
– Tourism(3): Tourism Minister Thong Khon says there were 2.15 million visitors we received in 2008.
- Travel visa US$20
- International flight tax :$25 ($18 for Cambodians)
- Domestic flight tax: $6 ($5 for Cambodians)
-(5)Sdeung Sokhon, the under-secretary of state of the ministry of Tourist, used to say that revenue from the tourist sector is continually growing because in 2007, the number of tourists rose to 2 million. Studies indicated that, in the average, tourists visiting Cambodia spend $700, excluding the price of their airfare, therefore the average spending for the 2 million visitors to Cambodia would amount to more than $1.4 billion. Tourist revenues are distributed to visa revenue, hotel taxes, food, souvenir items and other miscellaneous items, as well as cost of purchase of tickets for visiting Angkor temples.
- 2008, January and August. Visitor arrivals to Cambodia was 1,398,557; an 10.1%
- 2007, 2.02 million visitors, representing an 18.5% increase from 2006.
- In the first half of 2007, in SiemReap Numbers grew by a further 40.3%
- Between 1999-2005 the number of tourists in Cambodia grew by 375%
- During the same period, tourism numbers in Siem Reap grew by 1600%
By 2010, tourism numbers are predicted to reach 3.5million, generating close to $US2,000,000,000 in revenue
– Agriculture: Data N/A
– Real Estate: Data N/A