As the rest of the world struggles with COVID-19, the Kingdom of Cambodia has done relatively well in managing cases within its borders. As of reporting, the country only has 5 active cases left out of the 283 that were infected since February 2020. The government itself, despite low cases, has not ceased reminding residents to practice proper sanitation around public spaces.
One of COVID-19’s biggest economic threats is discouraging people to go out in fear of catching the virus. Economies across the world have seen retail industries suffer massive losses (second only to international travel) due to the significant loss in foot traffic. Cambodia was not spared from this, especially during Q2 and Q3 2020, when foot traffic to retail and recreational areas went down by as much as 56%, according to the Google Mobility Tracker.
Residential line (black) shows a downward trend in users tracked within residential areas while grocery & pharmacy line (green) and retail & recreation line (blue) show gradual recovery to the country’s baseline. Google Data Studios.
However, things have started looking up. As of October 9, 2020, the Google Mobility Tracker indicates that foot traffic in retail and reaction areas are only down by 15% from the baseline. Similarly, those tracked in residential areas have also steadily decreased from 22% to just 5% above the baseline.
Footfall for groceries, food markets, and pharmacies have been the quickest to recover from a low point of 42% to just 6% below the baseline. It appears that more consumers in Cambodia are regaining confidence in resuming their daily economic activities.
The Cambodian government allowed businesses such as casinos and KTVs to reopen following new health regulations. K/T Siv Channa.
In July 2020, the government announced the gradual reopening of businesses across cities like Phnom Penh. Casinos and KTVs, being prime job generators, were instructed to observe strict healthcare regulations in order to be allowed to reopen. Enforcement of these health guidelines was also on track as several businesses that did not follow regulations were immediately closed.
In September 2020, most schools in Cambodia were reopened following the green light from the Ministry of Education. Schools will be observing similarly strict health guidelines such as social distancing within classrooms, shifting schedules, and the inclusion of online classes into the curriculum. Schools found to be violating these new regulations would be warned or temporarily shutdown.
Schools reopened in September 2020 following a greenlight from the Ministry of Education. K/T Siv Channa.
If the public continues to observe proper social distancing and sanitation, and businesses follow health guidelines, Cambodia can soon be on track to recovery similar to its neighbors. At the moment, however, data indicates that people are beginning to go out once again - presenting a good opportunity for businesses to capture returning commercial interests.
Capturing returning commercial interest
“If you go out to the markets and malls, these places are packed with people, especially during the weekends” observed Thomas O’Sullivan, CEO of Realestate.com.kh. “People are ready to go out. They just need a good reason to.”
Realestate.com.kh, Cambodia’s biggest real estate platform, is hosting and organizing the Year-End Property Sale 2020 - a consumer expo featuring the country’s top brands all in one place. The Year-End Property Sale 2020 will also be the first physical/offline event in Cambodia complemented by an online sale that will run for a few weeks.
The physical/offline event will be held in the Premier Center Sen Sok on Nov 27-28. Realestate.com.kh is known for featuring a range of exhibitors in its expo-defining events since 2018. The Year-End Property Sale 2020 will continue this streak with over 60 exhibitors representing a wide range of brands offering daily consumer products and services to big real estate projects. It will be a consumer expo where Cambodians can get great deals on the products they want.
The other component of the event will feature an online property sale where buyers can avail of exclusive discounts from Cambodia’s top developments starting from November 27 until December 11. This is an ideal choice for property buyers who want to get great property deals in the comfort of their homes.
Registration for both events is FREE. Simply register below to get freebies and avail of exclusive discounts during the event!
The proverbial new normal has already taken hold in much of major urban centers like Phnom Penh; a situation where hand sanitizers and surgical masks are considered staple in daily life. Realestate.com.kh has made it a point to ensure that the same safety measure will be applied throughout the 2-day event.
Prior to COVID-19, Cambodia’s expanding market has attracted a great deal of local and international attention. And while the “new normal” may not have this activity returning to pre-COVID-19 levels yet, the interests of the wider consumer market are there, simply waiting for the perfect reason to go out.
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