Cambodia to be top choice for FDI in 2024

Cambodia is set to lead in fDi's annual outstanding FDI performance list with a projected GDP growth rate of 6.1%, surpassing its 5.6% growth rate in 2023. This positions Cambodia as one of Southeast Asia's fastest-growing economies. The inflation rate is expected to remain stable at around 3%. Cambodia has strengthened trade relations with China and South Korea through free trade agreements and is an active member of ASEAN and RCEP. The tourism industry in Cambodia is recovering, with an eightfold increase in tourist arrivals in Q1 2023 compared to the same period last year, according to the United Nations World Tourism Organization. Greenfield investments in Cambodia have also rebounded, attracting 20 projects and $2 billion in investments in the first nine months of 2023, based on fDi Markets data.