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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: November 1, 2023In: Make Money

Can the Siem Reap New Airport Transform Cambodia’s Tourism and Fuel Economic Growth?

The Siem Reap Angkor International Airport (SAI), a significant Chinese investment in northwest Cambodia, is poised to serve as a catalyst for the nation’s tourism and economic development, according to Cambodian Prime Minister Hun Manet. Situated in the Sotr Nikum ...Read more

The Siem Reap Angkor International Airport (SAI), a significant Chinese investment in northwest Cambodia, is poised to serve as a catalyst for the nation’s tourism and economic development, according to Cambodian Prime Minister Hun Manet. Situated in the Sotr Nikum district of Siem Reap province, this 4E-level international airport sprawls across a vast 700-hectare expanse and commenced its commercial operations on October 16.

Siem Reap’s new Angkor International Airport
Siem Reap’s new Angkor International Airport

In a statement released through his official Telegram channel, Prime Minister Hun Manet expressed his conviction that SAI would play a pivotal role in bolstering the tourism sector in Siem Reap province, as well as the broader tourism industry throughout Cambodia. He emphasized that this airport would not only serve as a gateway to the rich cultural heritage and natural wonders of the region but would also represent a hub of innovation and modernity. Moreover, it has the potential to attract investors and generate substantial economic benefits for local communities.

Located approximately 40 kilometers from the renowned UNESCO-listed Angkor Archaeological Park and 50 kilometers from Siem Reap provincial town, SAI is strategically positioned to act as a bridge between culture, nature, and efficiency. The airport’s influence extends to enhancing connectivity and logistics efficiency within the Southeast Asian region, contributing to the country’s overall growth and development.

SAI is a product of investment by Angkor International Airport Investment (Cambodia) Co., Ltd., an affiliate of China’s Yunnan Investment Holdings Ltd. It is envisioned that SAI will have the capacity to handle up to 7 million air passengers annually by 2024, with this number expected to surge to 12 million passengers by 2040. This growth is indicative of the airport’s critical role in facilitating air travel in and out of Cambodia, responding to the ever-increasing demand for access to this enchanting part of the world.

Sinn Chanserey Vutha, the undersecretary of state and spokesperson for the State Secretariat of Civil Aviation, highlighted the airport’s remarkable infrastructure, including a substantial 3,600-meter runway. This runway enables SAI to accommodate long-distance flights from various corners of the globe. He further underscored the collaborative nature of the project, which emerged as a result of the close partnership between Cambodia and China under the framework of the Belt and Road Initiative. Additionally, he expressed hope that SAI would attract new international airlines to establish direct flight connections with Siem Reap province, thus increasing its accessibility and global reach.

The inauguration of the Siem Reap Angkor International Airport represents a significant turning point for Cambodia, with far-reaching implications for both its tourism industry and economic growth. Its location in the heart of Siem Reap province, home to the iconic Angkor Archaeological Park, positions it as a vital gateway for tourists and travelers from around the world.

One of the primary long-term benefits of this new airport is its potential to boost Cambodia’s tourism sector. The country has long been a magnet for tourists due to its rich cultural heritage, stunning landscapes, and historical landmarks. Siem Reap, in particular, draws visitors from all over the globe who come to explore the ancient temples of Angkor Wat, a UNESCO World Heritage site. With SAI now fully operational, it is expected to streamline the travel experience for these tourists and make Cambodia even more accessible.

Siem Reap Angkor International Airport-Cambodia
Siem Reap Angkor International Airport-Cambodia

The airport’s ability to handle an increasing number of passengers in the coming years is a testament to its capacity for growth. By 2024, it is projected to accommodate up to 7 million passengers annually, and this number is expected to rise to 12 million by 2040. This substantial increase in passenger capacity will not only facilitate the ease of travel but also support the growth of Cambodia’s tourism industry. As more tourists are able to visit the country, the economic benefits will be substantial. The influx of visitors will boost the hospitality sector, create jobs, and stimulate the local economy.

Furthermore, the strategic location of SAI, in proximity to the Angkor Archaeological Park and Siem Reap provincial town, ensures that it will serve as a central hub for tourists exploring this historic region. Travelers arriving at SAI will have easy access to the wonders of Angkor Wat and the charm of Siem Reap, making it an ideal point of entry for tourists seeking to immerse themselves in Cambodia’s cultural and natural beauty.

Beyond tourism, SAI is also expected to have a positive impact on Cambodia’s economy. Prime Minister Hun Manet emphasized that the airport has the potential to attract investors. The improved connectivity provided by SAI, along with its state-of-the-art facilities, will make Cambodia an even more attractive destination for businesses and investors. The airport’s role as a gateway to the country will create opportunities for trade and investment, further contributing to economic growth.

The airport’s significant runway, capable of accommodating long-distance flights from around the world, positions SAI as a key player in the region’s transportation and logistics sectors. This is expected to enhance the efficiency and ease of conducting business in Cambodia, attracting companies and industries seeking to establish a presence in the country. The airport’s growth potential aligns with Cambodia’s broader economic development goals, as it becomes a vital link in the global transportation network.

In conclusion, the Siem Reap Angkor International Airport is set to be a transformative force in Cambodia’s tourism and economic landscape. Its strategic location, capacity for growth, and state-of-the-art infrastructure make it a catalyst for tourism development, economic growth, and increased connectivity in the region. With its ability to attract tourists, investors, and businesses, SAI is poised to play a central role in Cambodia’s continued journey towards prosperity and development.

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