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Angkor TimesExperienced
Asked: November 3, 2023In: Make Money

What Drove Angkor Park’s Remarkable Revenue Surge in 2023?

In 2023, the revenue generated by Angkor Park witnessed a remarkable surge, with over 600,000 international tourists purchasing tickets to explore the Angkor Archaeological Park within the first ten months of the year. This surge in visitor numbers led to ...Read more

In 2023, the revenue generated by Angkor Park witnessed a remarkable surge, with over 600,000 international tourists purchasing tickets to explore the Angkor Archaeological Park within the first ten months of the year. This surge in visitor numbers led to a substantial boost in revenue for Angkor Enterprise, the state entity responsible for overseeing ticket sales, with the total revenue nearing $28 million. This figure represents an astounding increase of over 300% when compared to the same period in 2022.

The data outlined in the November 1 report reveals that 602,570 foreign tourists graced the Angkor Park with their presence between January and October, contributing to total ticket sales of $27.88 million. When compared to the corresponding period in the prior year, there was a notable 255.82% increase in visitor numbers and an even more impressive 312.35% rise in revenue. These statistics underscore the growing popularity of this archaeological treasure in Cambodia.

Furthermore, Angkor Enterprise diversified its revenue streams by accumulating $590,948 from ticket sales at the Koh Ker archaeological site. This site, another UNESCO World Heritage Site, served as the capital of the Khmer Empire between 921 and 944 CE and is located in the neighboring Preah Vihear province. Additionally, Angkor Enterprise generated revenue from the Chong Kneas floating village in Siem Reap, with ticket sales reaching values of $149,010 and $441,938, respectively.

Kong Sambath, the vice-president of the Cambodia Chinese Tour Guide Association (CCTGA), noted that despite the waning concerns related to Covid-19, the influx of tourists to Siem Reap’s temples has not yet matched the pre-2020 levels. Nonetheless, he remains optimistic about future growth. Sambath anticipates that the upcoming inauguration of the new Siem Reap-Angkor International Airport (SAI) and diplomatic visits by Cambodian officials, particularly to China, will further boost tourist numbers. As a tour guide, he holds hope that these diplomatic interactions, particularly with China, will play a pivotal role in amplifying the number of tourists visiting Cambodia.

Khieu Thy, president of the Khmer Angkor Tourist Guide Association, observed that while there has been a steady increase in visitors to Siem Reap’s temples, the global economic crisis has cast a shadow on the rate of growth. This crisis has impacted potential tourists’ disposable income, emerging as a new challenge for travelers. Though travel restrictions have eased in comparison to the years 2020-2022, financial constraints have become a prevailing concern for those considering a visit to the region. However, Thy expects a positive shift in the fourth quarter, traditionally a busy period for the province.

For reference, it’s worth noting that in 2022, Angkor Enterprise reported earnings of $11,783,916 from foreign visitor ticket sales. This figure included a breakdown of $11,528,158 from the Angkor Archaeological Park, $90,450 from Koh Ker, and $165,308 from Chong Kneas. This context serves as a reference point to understand the significant increase in revenue in 2023.

The year 2019 marked a milestone with a record number of tourists, welcoming over 6.6 million arrivals and leading to ticket sales that surpassed an impressive $80.7 million.

Established in 2016, Angkor Enterprise operates under the technical guidance of the tourism ministry and the financial guidance of the Ministry of Economy and Finance. The entity’s revenue sources extend beyond the Angkor park, encompassing ticket sales for the Koh Ker temple complex and boat tickets at the Chong Kneas floating village.

The ticketing structure for the Angkor park features three tiers, catering to different visitor preferences and durations of stay. These include one-day passes priced at $37, three-day passes at $62, and seven-day passes at $72. This tiered pricing system allows visitors to choose the option that best suits their exploration plans within the park.

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Angkor Times
Angkor TimesExperienced
Asked: October 30, 2023In: Lifestyles

Can Cambodia's New Tourism Strategies Transform the Country into an Alluring Destination?

Unlocking Cambodia’s Tourism Potential: Strategies for Becoming a Global Destination Cambodia, a land of rich cultural heritage and breathtaking natural beauty, is poised to become a magnet for international tourists in the next five years. The Ministry of Tourism, in collaboration ...Read more

Unlocking Cambodia’s Tourism Potential: Strategies for Becoming a Global Destination

Cambodia, a land of rich cultural heritage and breathtaking natural beauty, is poised to become a magnet for international tourists in the next five years. The Ministry of Tourism, in collaboration with private stakeholders, is crafting innovative strategies to transform Cambodia into a competitive, sustainable, and inclusive global tourist destination. This ambitious goal aims to attract eight million international visitors to the country. In this comprehensive SEO blog post, we will explore the challenges and opportunities that Cambodia’s tourism sector faces and the initiatives that are shaping its future.

The Economic Impact of Tourism in Cambodia

The tourism sector is a driving force behind Cambodia’s economic growth, contributing significantly to the nation’s GDP. In 2022, it attracted over $1.415 billion from 2.28 million international tourists and over $650 million from 13.93 million domestic visitors, accounting for 3.6 percent of domestic growth. This impressive economic contribution has led the government to set its sights on further expansion and development of this vital sector.

Tourism Before and After the Pandemic

The COVID-19 pandemic disrupted global travel, and Cambodia was no exception. However, the Royal Government of Cambodia, led by former Prime Minister Hun Sen, implemented swift and effective measures to manage infections, roll out vaccines, and promote social mobility. Consequently, Cambodia became the fourth fastest country among 121 nations to recover from the pandemic, setting the stage for a post-pandemic resurgence.

Tourism Minister Sok Soken has reported encouraging statistics, noting an increase of 80 percent in European Union tourists and 60 percent in Asian tourists compared to the levels before the pandemic. In the first eight months of 2023, Cambodia welcomed 3.5 million international tourists, marking a remarkable 250.8 percent increase compared to the previous year and showing a promising trajectory.

Challenges and Opportunities in Different Regions

Cambodia’s tourism sector presents unique challenges and opportunities in different regions. While Phnom Penh City has witnessed significant economic growth, tourism, investment, and trade opportunities, provinces like Preah Sihanouk and Siem Reap are still on the path to full recovery. Many businesses in Siem Reap heavily depend on international visitors, and the suspension of tourism during the pandemic had a profound impact. However, the government and private sector collaborated to upgrade infrastructure, retrain workers, and prepare for the return of international tourists.

The Government’s Vision

To realize its ambitious tourism goals, the government has adopted a strategic initiative called ‘Uniting for a Collective Vision.’ This initiative seeks to position Cambodia as a leading global destination, marked by rich diversity, boundless opportunities, and genuine compassion. Minister Sok Soken has taken the initiative to transform the tourism sector, often referred to as the ‘Green Gold’ by former Prime Minister Hun Sen, into a vital contributor to the nation’s economy and society. The focus is on creating job opportunities, increasing revenue for citizens, importing tourism products, and attracting more investments.

Strategies for Success

The Ministry of Tourism has devised a multifaceted strategy, encapsulated by the acronym ‘BUILD plus 3Ds.’ This comprehensive approach addresses five major improvements:

  • Brand Management: This involves creating and communicating Cambodia’s brand to the Priority Target Market (PTM), making Cambodia a recognized global destination.
  • Unique Selling Point Marketing: The focus here is on promoting Cambodia to the right audience to pique tourists’ interest in visiting the Kingdom.
  • Inbound Design Quality Travel: Comprehensive design for the mental and physical quality of travelers to meet international standards.
  • Leverage on Endowment and Diversification: Developing product experimentation, cultural, culinary, and adventure offerings to cater to the PTM’s desires.
  • Develop Competitive Sites and Resources: Continuous development of local tourism sites and resources to be competitive in the ASEAN region.

The ‘3Ds’ aspect of the strategy emphasizes the importance of design thinking, digital transformation, and developing capabilities. These elements will streamline structures, guidelines, and initiatives, making Cambodia a competitive, sustainable, and inclusive destination.

Design Thinking for Problem Solving

To implement this strategic initiative, the Ministry of Tourism has adopted ‘Design Thinking,’ a human-centered approach to solving complex problems and fostering innovation. This approach involves five key phases: empathize, define, ideate, prototype, and test. All officials at the Ministry will use this method as a common operational language to address the challenges facing Cambodia.

Prime Minister Hun Manet’s Commitment

Prime Minister Hun Manet has emphasized the priority and competitiveness of the tourism sector. He has actively sought to strengthen collaboration with the private sector to promote potential destinations in Cambodia. His ‘Visit Cambodia Year 2023’ project aims to welcome at least five million international tourists and over 17 million domestic tourists, setting the stage for the Kingdom to receive eight million international travelers within the next five years.

The Role of the Private Sector

Dr. Thourn Sinan, Chairman of the Pacific Asia Travel Association (PATA) Cambodia Chapter, highlights the importance of collaboration between the government and the private sector. To ensure the growth and prosperity of Cambodia’s tourism sector, he emphasizes five key strategies:

  • Crisis Management: Develop a comprehensive crisis management plan to mitigate the impact of global crises on the economy and people.
  • Sustainable Tourism: Promote sustainable tourism practices that protect the environment, support local communities, and provide economic benefits.
  • Digital Transformation: Leverage digital technologies to promote tourism and other sectors, reaching potential investors through online platforms.
  • Public-Private Partnerships: Encourage collaboration between the government and the private sector to drive economic growth and development.
  • Education and Skill Development: Foster a business-friendly environment through education and skill development initiatives.

Conclusion

Cambodia’s ambitious plans to attract eight million international tourists in the next five years are backed by visionary leadership and innovative strategies. By focusing on brand management, unique selling points, quality travel experiences, diversification, and competitive resources, Cambodia aims to emerge as a top global destination. The incorporation of design thinking and collaboration with the private sector will further fuel this transformation, fostering economic growth and prosperity for the nation. With its rich cultural heritage and natural beauty, Cambodia is on the path to becoming an inclusive and sustainable global tourism hotspot.

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Cambodia tourism strategiesCambodia's cultural heritageCambodia's tourism brandCOVID-19 recovery CambodiaCrisis management strategiesDesign Thinking in tourismDigital transformation in tourismEconomic impact of tourismInclusive global destinationInternational tourist influx CambodiaMinistry of Tourism initiativesPhnom Penh tourism growthPrime Minister Hun Manet's visionPrivate sector collaborationSiem Reap tourism recoverySustainable tourism CambodiaSustainable travel experiencesTourism sector developmentTourism sector transformation CambodiaVisit Cambodia Year 2023
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