In Cambodia, Khmer travelers are taking over from a sluggish international tourism sector

Foreign arrivals fell 44.8% in Q1 2026, weighed down by the collapse of Thai visitor flows. But domestic demand, up nearly 59%, adds an unexpected nuance to an overall picture that remains bleak.

@CG

1,01 M Arrival intl. T1 2026

−44,8 % vs T1 2025

+58,9 % Cambodian visitors

6,02 M Domestic travels

Q1 2026 presents a contrasting picture of Cambodian tourism. On one hand, the Ministry of Tourism recorded 1,014,147 international arrivals between January and March — less than half of the 1,838,208 recorded in the same period a year earlier. On the other, Cambodians themselves are traveling extensively within their own country: 6.02 million domestic trips, a 58.9% increase compared to Q1 2025.

This diverging trend — collapsing international arrivals, vibrant domestic travel — sketches a tourism economy in the midst of deep restructuring, with a balance that remains fragile. The trajectory of foreign arrivals follows a continuous downward slope: −38.1% in January, −52.5% in Februar

y, −43.3% in March, with no tangible sign of recovery.

"Cambodians are discovering or rediscovering their country at a sustained pace. This domestic surge does not offset the losses in foreign currency revenues, but it reveals stronger-than-expected internal demand."

Thailand in Freefall: An Unprecedented Collapse

While the general trend is concerning, it is the dramatic drop in arrivals from Thailand that has drawn analysts' attention. Over the entire quarter, Cambodia's Thai neighbor sent only 25,867 visitors, compared to 501,666 a year earlier — a collapse of 94.8%.

In March, the land border appeared nearly shut: just 2,155 entries, compared to 149,732 in March 2025.

This exceptional phenomenon alone accounts for a large share of the overall decline. Cambodian authorities have not officially communicated on the causes of this abrupt break with their main overland entry market. Diplomatic tensions, tightened border controls, and the closure of certain crossing corridors may be behind this unprecedented situation.

Top Source Markets in Q1 2026

Market	2026 Arrivals	Change/2025	Share (%)
China (PRC)	242,387	−15.3%	23.9%
Vietnam	235,444	−22.7%	23.2%
United States	64,271	−12.9%	6.3%
United Kingdom	44,373	−11.9%	4.4%
France	43,425	−16.9%	4.3%
Indonesia	26,277	−35.3%	2.6%
Japan	26,077	−24.7%	2.6%
Thailand	25,867	−94.8%	2.6%
Australia	25,039	−12.3%	2.5%
Germany	23,821	−27.6%	2.3%

China and Vietnam Remain the Pillars, but Under Strain

The source market structure reveals a worrying concentration. China (23.9%) and Vietnam (23.2%) together account for nearly half of all arrivals. While their respective declines of 15.3% and 22.7% appear less dramatic than the overall average, they reflect an underlying erosion affecting all geographic catchment areas.

Conversely, a few rare markets are holding their own. In January, Vietnam even posted a slight gain (+10.6%) and China recorded +14.1% — encouraging signals quickly erased by the months that followed. South Korea suffered one of the steepest declines, at −66.1% for the quarter.

Watch Point South Korea fell from 63,055 to 21,366 arrivals (−66.1%). Russia declined 57.3%, Pakistan 82.3%, Laos 90.6%. These concentrated collapses in certain Asian markets call for an in-depth analysis of the structural factors at play.

Entry Points: Land Crossings Collapse, Air Travel Holds Up Better

Land and river arrivals plunged 66.6%, dropping from 1,048,824 to 350,406 — a direct consequence of the near-disappearance of Thai flows through border crossings. Air arrivals, down 15.9%, are holding up comparatively better and now account for 65.4% of the total.

Techo Airport — Phnom Penh : 429,781 | −21.1% vs Q1 2025 · 42.4% of total

Siem Reap Angkor Airport : 207,599 | −10.4% vs Q1 2025 · 20.5% of total

Sihanoukville Airport : 26,361 | +104.0% vs Q1 2025 · only segment showing growth

Land borders : 314,876 | −69.0% vs Q1 2025

Domestic Tourism: Khmers Discovering Their Own Country

This is the quarter's surprise. While Siem Reap hotels are counting their foreign guests, Cambodians are traveling. Domestic trips increased 58.9%, driven by a particularly strong dynamic in Phnom Penh (+672.5% in domestic visitors) and in the Preah Sihanouk coastal zone (+101.9%).

This movement reflects both an improvement in living standards for part of the population, the development of internal transport infrastructure, and perhaps a form of substitution — Cambodians who are no longer traveling abroad (−44.7% in departures) redirecting their spending toward domestic destinations. Siem Reap Angkor remains slightly down (−8% in domestic visitors), but its coastal zone recorded +64.7% more Cambodian visitors over the same period.

"Neither European nor Anglo-Saxon markets are offsetting the Asian shortfall. But domestic demand, long neglected in promotional strategies, is emerging as an unexpected buffer."

A Second Quarter Under High Pressure

If the trend holds, 2026 could prove even more difficult than 2025, which had already recorded a 16.9% decline compared to 2024. International tourism revenues reached $3.878 billion in 2025 — a windfall that the current downturn threatens to significantly erode, as domestic tourism generates revenues in local currency without the foreign exchange contribution of international visitors.

Cambodian authorities face a dual challenge: rebuilding short-haul Asian visitor flows and understanding the drivers behind such a sharp break with Thailand. The next quarterly figures will reveal whether this decline reflects a temporary external shock or the beginning of a lasting restructuring of tourist flows in the region.