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Showing posts with label business. Show all posts
Showing posts with label business. Show all posts
Sunday, March 3, 2013
Cambodia hotel market booming
Last Updated on 20 February 2013
- By Laura Walters
Raffles Hotel Le Royal in Phnom Penh. Photograph: Wesley Monts
The hotel sector in Cambodia had a positive year in 2012 and rates and room numbers are set to increase this year and next.
A new report from property agents CBRE says tourism accounted for 9.7 per cent of Cambodia’s GDP in 2012, a rise of 5.5 per cent from 2011. Investment in the tourism sector has increased by 16.7 per cent year on year, and total foreign arrivals increased by a massive 24.8 per cent year on year, with business arrivals seeing the greatest increase, at 47 per cent.
The Phnom Penh luxury hotel market “significantly benefitted from the presence of the ASEAN summits,” in April and November, which CBRE said brought over 1,000 delegates and international press into the city.
Café society competition hots up
Last Updated on 20 February 2013 By Laura Walters
Local and foreign business owners seem to be jumping on the bandwagon in light of the success of the western-style cafes which seem to dot every street corner of Boeung Keng Kang 1 district.
However local real estate experts say not all of the air conditioned, latte-serving hangouts can survive in the area, despite the growth of the market.
Local and foreign business owners seem to be jumping on the bandwagon in light of the success of the western-style cafes which seem to dot every street corner of Boeung Keng Kang 1 district.
However local real estate experts say not all of the air conditioned, latte-serving hangouts can survive in the area, despite the growth of the market.
Asia Real Estate Cambodia Vice President Kuek Narin said the area, which is known as Phnom Penh’s main expatriate area, has experienced rapid growth over the past seven years.
Thursday, February 16, 2012
Investment jumps 159%
Phnom Penh Post
May Kunmakara
Thursday, 16 February 2012
The total approved investment jumped about 159 per cent year-on-year in 2011 to US$7.021 billion from $2.7 billion the year before, official data from the Council of the Development of Cambodia (CDC) showed.
The tourism, industry and agricultural sectors saw dramatic increases, 1,993.57 per cent, 203.48 per cent, and 31 per cent respectively, the data showed. It showed total investment in the tourism sector reaching $2.760 billion with 8 projects, up from $132 million the year before.
Industry attracted $2.869 billion with 113 project, of which 78 were in the garment sector, compared to $945 million in 2010.
The agricultural sector with 24 projects took in $725 million compared to $554 million in 2010, according to the data.
May Kunmakara
Thursday, 16 February 2012
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Heng Chivoan/Phnom Penh Post People walk on a beach near the bridge to Koh Puos, the site of a large-scale tourist development, in Preah Sihanouk province in July last year. |
The tourism, industry and agricultural sectors saw dramatic increases, 1,993.57 per cent, 203.48 per cent, and 31 per cent respectively, the data showed. It showed total investment in the tourism sector reaching $2.760 billion with 8 projects, up from $132 million the year before.
Industry attracted $2.869 billion with 113 project, of which 78 were in the garment sector, compared to $945 million in 2010.
The agricultural sector with 24 projects took in $725 million compared to $554 million in 2010, according to the data.
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