Cambodia Needs Over 100,000 Hotel Rooms by 2030

Minister of Tourism H.E Thong Khon, has forecast that Cambodia will need more than 100,000 hotel rooms to accommodate the increasing number of national and international tourists which is expected to total to around 28 million by 2030.

According to the minister, among the 100,000 rooms, 60% of them will require luxury four and five-star hotels (about 60,000 rooms) with Sihanouvkille Province alone accounting for 300,000 rooms, of which 200,000 are luxury rooms.

In fact, the demand for luxury hotel accommodation is in line with the global trend in the rise of middle-income earners who prefer luxury hotels highlighted during a recent panel discussion.

Meanwhile, H.E Thong Khon also pointed out that, Cambodia will receive about 6.2 million international tourists in 2018, 7 million in 2020, and by 2030 the country will receive about 15 million international tourists and 13 million local tourists among which, 2 million international tourists and 3 million local tourists are expected to visit Sihanoukville Province.

Currently, Cambodia overall has more than 800 hotels with 46,000 rooms, of which 20,000 are luxury. Sihanoukville has 69 hotels, equivalent to 4,000 rooms, of which 1,000 rooms are luxury.

- Video Advertisement -

Related Post

Asia Pacific Real Estate Forecast 2025: Navigating Challenges with Resilience and Opportunity

The Asia Pacific real estate market is poised for steady growth in 2025, buoyed by easing global interest rates and projected regional GDP growth of 4.4%, despite persistent challenges such as China’s ongoing property market struggles and geopolitical tensions. the International Monetary Fund (IMF) and World Bank confirmed these growth projections in their recent regional […]

Cambodia Faces Mounting Debt Challenges in the Real Estate Sector

The real estate sector in Cambodia is grappling with mounting financial concerns, as total housing debt nears USD 1 billion, according to insights shared during the recent roundtable discussion, The Debt Situation in Cambodia, organised by the Real Estate and Mortgage Regulatory Authority. Mr Chou Vannak, Director General of the authority, revealed that homebuyers owe […]

Expert: Dual-Pronged Strategy to Navigate Post-Pandemic Challenges in the ASEAN+3 Property Market

The ASEAN+3 property markets, encompassing ASEAN nations along with China, Hong Kong, Japan, and Korea, are grappling with declining prices and transaction volumes, compounded by financial constraints, surplus inventory, and at-risk developers. These challenges, exacerbated in the Plus-3 economies by stricter financial conditions and diminished buyer confidence, underscore the pressing need for stabilization measures in […]

Critical Analysis of Cambodia’s Stamp Duty Exemption Policy for Properties Valued at USD70K or Less

The Cambodian government’s decision to introduce a stamp duty exemption for properties valued at USD 70,000 or less is a policy aimed at alleviating the financial burden on property buyers and stimulating the real estate market. However, while this policy appears beneficial, a deeper analysis reveals both advantages and disadvantages that raise questions about its […]

Thai office space vacancy rate rises 26.3%, Yet Thailand’s richest billionaire optimistic about market demand growth

Bangkok’s office vacancy rate in prime Grade A buildings has soared to 26.3%, reflecting a growing oversupply, but Frasers Property Limited, led by Thailand’s wealthiest scion, is betting on the US-China trade feud to drive demand for office and industrial spaces across Southeast Asia, according to bangkokpost on 19 September 2024. With a US$3.6 billion […]

Thailand’s USD 6.5 Billion EV Industry Set to Power Commercial Real Estate Growth

Thailand’s fast-growing electric vehicle (EV) industry is projected to generate a real estate market worth at least USD 6.5 billion by 2030, driven by government policies and strong foreign investments. As the country aims to solidify its position as Southeast Asia’s leading hub for EV manufacturing, this growth will fuel demand for specialized real estate […]