Cambodia is on the brink of an economic growth spurt in the second half of 2023, with the International Monetary Fund (IMF) predicting robust expansion in key sectors. This anticipated recovery is expected to have an impact on the country's overall development.
The sectors of exports, services, tourism, and non-industrial industries drive this impressive growth. As Cambodia solidifies its position in these areas, the momentum of its economic recovery is set to gain considerable strength.
Compared to neighbouring countries, Cambodia is poised to maintain a robust growth rate throughout 2023. A contributing factor to this positive outlook is the rapid normalisation of social activities. As the world gradually recovers from the pandemic's effects, Cambodia's trading partners are anticipated to experience an enhanced recovery, providing an additional boost to the country's economic growth.
The World Bank projects that Cambodia's economic growth will rank third among other ASEAN countries, with a forecasted rate of 5.2% for 2023. Moreover, the Asian Development Bank (ADB) recognises Cambodia as the 14th fastest-growing economy, projecting a growth rate of 5.8%.
As Cambodia's economy gains momentum, one sector that stands to benefit immensely is real estate. With increasing investor confidence and a thriving business landscape, the real estate market is poised for a surge in activity. This presents an ideal opportunity for both local and foreign investors to explore the potential offered by Cambodia's real estate sector.
Supported by positive projections from reputable institutions such as the World Bank and the ADB, these assessments further underscore Cambodia's trajectory, validating its upward trajectory as an attractive investment opportunity within the country.
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