Industries
- Gaming industry
The gaming industry of Cambodia supports its tourism industry, in which previously has been mostly concentrated on the Siem Reap area. The introduction of casino on border cities and towns created an industry that has been thriving positively and contributing to employment generation and steady stream of revenue for the government, albeit minimally due to perceived layers of corruption in the bureaucracy that regulates the industry. It has likewise spur growth in different parts of the country at border crossing towns like Poipet, Bavet and Kho Khong. The huge potential of the gaming industry in Cambodia due to proximity to Thailand where gambling is forbidden is offsetted by lack of skilled manpower to serve the growing market of foreigners. The 21 registered casinos in Cambodia have been hiring foreign nationalities from the Philippines in which the country is known for its skilled workers in the hospitality industry worldwide.
- Construction
The positive growth on tourist arrivals has led to the growth in demand in hotels and other form of accommodation surrounding the Angkor Wat area. Siem Reap, where the Angkor Wat is located has seen a construction boom in recent years. The capital Phnom Penh has seen a boom in construction with the development of real estate industry, which at present is focused on few commercial and office buildings and casino hotels. Planned projects that had been on the pipeline several years ago has been shelved momentarily due to problematic cash inflows and management woes from its Korean investors. The same happened to the real estate and construction industry in Vietnam where Koreans have been involved in failed projects.
Read more about this topic: Economy Of Cambodia
Famous quotes containing the word industries:
“All industries are brought under the control of such people [film producers] by Capitalism. If the capitalists let themselves be seduced from their pursuit of profits to the enchantments of art, they would be bankrupt before they knew where they were. You cannot combine the pursuit of money with the pursuit of art.”
—George Bernard Shaw (1856–1950)