Chinese Tourism Accelerates Nation's Real Estate Boom

The real estate industry of Cambodia is ready to witnessed further growth thanks to some active attempts by the government to raise the number of Chinese travellers entering this kingdom.

The second national forum on the ‘China Ready for Cambodia Tourism' policy initiative had taken place on 31st October, 2017.

This whitepaper policy initiative is aiming to increase annual Chinese travellers visiting the country by outlining the initi8al steps to be taken by the Ministry of Tourism to make Chinese tourism more convenient by encouraging the utilization of the yuan currency , customizing food and accommodation options and offering Chinese signage and documents for visa processing.

Thong Khon who is the tourism minister of Cambodia had laid emphasis on the nation's aim to lure two million Chinese visitors entering the kingdom annually by 2020.

Cambodia has welcomed 3.5 million foreign tourists in the first eight months of 2017 marking a 11.8% rise from the previous year out of which 742,586 were Chinese tourists.

As per the minister, this represents a 44% rise of Chinese tourists and this is actually pleasant news for the economy of the country, particularly for the real estate sector that is catapulted by the continuous inflow of Chinese investment.

Tourism is a significant pillar of the Cambodian economy.

In 2016 the region welcomed more than five million foreign tourists comprising 830,000 Chinese accumulating gross revenue of $3.4 billion as per the Ministry of Tourism. This year it is expecting that the number of Chinese travellers entering Cambodia would reach the one million mark.

Furthermore three more Chinese airlines have started plans to enter the investment sector of Cambodia in the near future in response to the rising demands of Chinese travelling for business purpose and even tourists.