Thursday, July 31, 2008

Tourist growth in Cambodia: a reason to invest now?

Tourist growth helps boost property market in Cambodia | Asia | News
The Ministry of Tourism said numbers were up more than 14% compared with last year. A spokesman said political stability and infrastructure improvements had increased the number of tourist arrivals to the country. Some $1.64 billion is expected to be generated in 2008 from tourism alone.

Actually there is a big mistake: Tourist numbers are not increasing because of political stability or infrastructure. The least is not even changed in the last years. The growth is just because Siem Reap attracts tourists as World Heritage Site. But infrastructure means in this place frequently powercuts and a concern about the future of water supply.
ON the other hand the tourist business is not affecting Phnom Penh, what is the capital and financial center. Its wealth is build on NGO money, chinese businessman and corruption. A growing number of farmer how sold their land is moving into the city with a lot of cash but no business perspective.