Tourism Returns to Cambodia, but Without Regaining Balance

Tourism has returned to Cambodia, but without regaining its equilibrium. After the collapse caused by the global health crisis, 2023 and 2024 marked a visible recovery: borders reopened, international flights resumed, and visitor flows restarted.

Yet behind these encouraging signs, the sector’s momentum remains uncertain. Arrivals picked up, then declined again in 2025. Air traffic remains uneven, revenue per visitor and tourism’s contribution to GDP are still below pre-pandemic levels. Activity has restarted, but its direction seems unclear — not due to lack of energy, but because of structural imbalance.

The Confusion Between Volume and Value

For years, Cambodia’s tourism success has been measured primarily by the number of arrivals. That figure is easy to publish, compare, and celebrate politically. However, it does not reflect the true health of the tourism economy.

An arrival is neither a stay, nor an expenditure, nor a meaningful experience. By equating all forms of mobility — day crossings, business travel, cultural stays — into one single indicator, policy ends up fostering movement rather than value. As a result, growth is measured in volume before it is measured in coherence.

Three Coexisting Tourism Economies

Cambodia does not have a single tourism economy, but several.

First, a border economy, driven by short stays and casino-related activities. This segment generates cash flow but few sustainable local benefits.Second, business and investment tourism, which is more stable because it is less sensitive to confidence cycles.Finally, a destination economy, centered on heritage, culture, and nature — attracting higher-value visitors but also more vulnerable to international perceptions.

These three circuits operate in parallel but are counted together.

Before the pandemic, about two-thirds of tourists arrived by air, accounting for nearly all long stays and significant spending. In 2024, the trend reversed: land crossings now make up nearly two-thirds of arrivals, while air traffic remains far below 2019 levels. Average revenue per visitor has dropped sharply, and tourism’s share of GDP has declined significantly. Volume has returned, but not yield.

A Structural Crossroads

The country now stands at the crossroads of two logics: that of volume, driven by fast border flows, and that of value, driven by air access. Cross-border movements stimulate short-term activity and energize certain regions, but their economic impact remains shallow.

Air tourism, by contrast, promotes long stays, geographic dispersion, and upscale experiences — but demands a stronger image and greater trust. This duality shows in the data: borders can be bustling while hotels remain empty. Planes may land, yet major destinations like Siem Reap and Angkor struggle to recover their vitality. These are not contradictions but signals.

The Illusion of Visibility

Cambodia’s tourism apparatus still favors “visibility” over “memory.” Communication focuses on what photographs well; infrastructure follows flows rather than a strategic vision; success is summed up in totals rather than in quality of experience. It is a tourism that moves more than it defines itself.Angkor Wat, the nation’s iconic site, illustrates this fragility. Its decline stems not from closure but from a loss of confidence — travel advisories, rumors, or regional incidents can sharply reduce visits. Angkor is not an isolated case; it embodies the sensitive core of a system where value depends on time, human connection, and the freedom to explore — not on mere passage.

“Encounter” as a Driving Force

Cambodia’s true comparative advantage lies in the notion of encounter. But for this to be lasting, it must be treated as a structural condition, not a slogan. Three elements define it:

• Time, allowing unplanned exchanges.

• Proximity, anchoring economic activity in local life rather than isolated enclaves.

• Discretion, giving travelers the freedom to explore without constraint.

These factors do not depend on arrival numbers but on policies regarding access, zoning, incentives, and product design. When they deteriorate, authentic encounters disappear — even if visitor counts rise.

The Risk of Dilution

The danger ahead is not over-tourism but lack of definition. If the country fails to clarify its position in the regional tourism landscape, growth will continue but fragment. Stays will shorten, spending will erode, and Cambodia will become a transit point — a stopover rather than a destination.

Toward a Design-Based Policy

The reopening phase is over; the redefinition phase begins. The challenge is no longer to count but to design — to decide what vision of tourism should guide the country. This calls for rethinking indicators, incentives, and trade-offs. As long as success is measured by a single figure, the system will keep chasing it at the expense of meaning.Tourism recovery can be measured, but its identity must be defined. The numbers will continue to move; it is now up to Cambodia to decide what meaning they will carry.

Note: For clarity, the original text has been shortened.it