Friday, May 13, 2016
Asian Development Bank says Cambodia to have fastest growing economy in Asia
The Asian Development Bank on Monday named Cambodia as the fastest growing economy in Asia in its latest new analysis article titled Here Comes Cambodia: Asia’s New Tiger Economy.
According to the article based on the ADB’s outlook for 2016, Cambodia was a country synonymous with conflict and poverty, but now has one of the fastest growing economies in Asia. The country’s gross domestic product has grown by 7 percent or more since 2013 and is expected to keep up that pace through 2017.
Most people probably think of Pol Pot and the movie "The Killing Fields" when you mention Cambodia. I think of a growing frontier market with a big casino in the middle of capital that has a government granted monopoly for the next forty years. Growing tourism arrivals, cheap labor, and a young demography should encourage growth over the next several decades.