Monthly Archives: June 2014
CAMBODIA’S TOURISM SECTOR CONTINUES TO EXPAND WITH INCREASE IN INTERNATIONAL ARRIVALS
The Cambodian tourism sector continued to enjoy steady growth over the course of 2013, with the number of international arrivals increasing by 17.5%, to a total of 4,210,165, up from 3,584,037 in 2012. The average length of stay also increased to, 6.75 days, up from 6.5.
Average hotel occupancy rates in 2013 rose to 69.53%, up from 68.49% the previous year.
The current REVPAR (Revenue per Available Room) in the four and five star hotel market in Phnom Penh ranges from US$25 up to US$100.
Siem Reap remains the most popular destination for tourists entering Cambodia, with arrivals into Siem Reap International Airport accounting for 28.1% of all arrivals, compared to Phnom Penh at 19.9%.
Tourism to Sihanoukville is expected to increase over the coming years, with frequent flights available from Siem Reap and with the delivery of new luxury hotel accommodation off the Sihanoukville coast.
Future supply is set to increase, with the completion of the Sohka Hotel and Naga 2 in Phnom Penh.
Sohka is set to launch approximately 450 rooms onto the market and Naga 2 is set to deliver in excess of 1000, increasing Phnom Penh luxury hotel supply by 70%.
Alila Villas Koh Russey is set to deliver Cambodia’s first internationally branded Island resort, located off the western Cambodian coast, in close proximity to Sihanoukville. This will build on the success of Song Saa Private Island, launched in 2012.
The planned expansion of both Phnom Penh and Sihanoukville International Airports will support the growing number of international arrivals, with the capacity of at both airports set to approximately double over the coming years. Both airports will be able to accommodate up to 5 million travellers respectively, per annum, up from their current capacities of 2.5 million.
Tourism accounted directly for 10.4% of Cambodia’s GDP in 2013, a rise of 6.9% from 2012 and significantly higher than the Asia Pacific average of 2.3%. Tourism in Cambodia currently contributes a greater relative proportion of GDP than any other ASEAN economy. Total foreign arrivals increased by 17.5% Y-o-Y, with arrivals from Loas and China (PRC) growing significantly, by 63.2% and 38.7%, respectively.
Tourism is anticipated to account for an increasingly large proportion of Cambodia’s overall GDP between 2014-2024.
Compared to the figures from 2012, the share of arrivals via land and air remains consistent, with land arrivals accounting for 50.3%. This can be attributed to visitors entering from neighbouring countries Laos, Vietnam and Thailand.
As in previous years, Siem Reap International Airport has the highest share of arrivals at 28.1%, with 19.9% of arrivals attributed to Phnom Penh. According to the Cambodian Government, approximately US$80 million will be invested to expand the international terminal in Phnom Penh and US$100 million will be used to upgrade Siem Reap International Airport.