Chinese influx pushing locals, Westerners out of Preah Sihanouk

[geovalin]

Some within the Kingdom’s tourism industry have speculated that the recent influx of Chinese visitors may hinder domestic tourism as the price of accommodations in the coastal city of Sihanoukville continues to rise.

 

Preah Sihanouk province, which has become a hotbed for Chinese investment in the country, has seen huge leaps of growth in the manufacturing, tourism and gambling industries.

 

Its geography proves strategic as well for Beijing’s Belt and Road infrastructure push in Asia.

 

read more https://www.phnompenhpost.com/business/chinese-influx-pushing-locals-westerners-out-preah-sihanouk

 

 

-- © Copyright Phenom Pen Post 19/09

[Sheryl]

not just in Sihanoukville....

[phantomfiddler]

Now isn,t that a surprise ! and it is going to happen in Pattaya also. Many years ago it was full of Farangs spending up to $12,000 a month or more, but look at it now ?

[TheGhostWithin]

The Chinese investment in the world, Will continue to disadvantage local population as long as a country allows Chinese of foreign residence and citizenship to purchase an asset for the purposes primarily of financial gain. 

 

Until a country takes active steps to stop speculation and gambling of assets in semi-illiquid markets such as housing, mining and other strategic assets the local populace will always get second choice, and never be able to compete with the unlimited supply of cash and hunger to hide their black or grey market money. 

 

With every country that puts restrictions on foreign purchases (I know NZ and Australia have done this recently), more pressure will be placed on those that welcome the foreign speculation at the expense of their citizens, as Chinese speculators pile more and more into the markets which remain. 

 

South East Asia has been here before, the difference being the last wave of Chinese were not financially affluent - this time they are. 

 

Wake up, Cambodia, wake up, Thailand, wake up, Vietnam. 

[TheGhostWithin]

1 minute ago, phantomfiddler said:

Now isn,t that a surprise ! and it is going to happen in Pattaya also. Many years ago it was full of Farangs spending up to $12,000 a month or more, but look at it now ?

I budget 15,000 baht per day, usually for 35 days or so (accommodation and airfare costs on top of this) and feel that money does not get me anywhere near as "far" in terms of fun and experiences as only 2-3 years ago. 

 

Traveling to Cambodia, I have found friends that I do not need a lot of money to have fun with - they are happy to just know a westerner, share their language and let me share mine with them. 

 

I still visit Thailand, but I have started coming less frequently, and shortening my trips drastically by supplimenting them with side sojourns to Cambodia, Laos and the Philippines. 

 

I see great potential in Cambodia, but only after recognition that change in many forms will make lives for all Cambodians better, the elite included. 

[Burma Bill]

I believe the Chinese are also building new port facilities - ideal for their warships patrolling the South China Sea around their "man-made" islands.

[Media1]

1 hour ago, phantomfiddler said:

Now isn,t that a surprise ! and it is going to happen in Pattaya also. Many years ago it was full of Farangs spending up to $12,000 a month or more, but look at it now ?

Very true

[tubby johnson]

Neocolonialism, Chinese style: indebt your vassal states with unaffordable white elephant schemes, bring in boatloads of your own workers, intimidate, invest and colonise.

[chama]

The camel now has its nose under the tent! Soon it will own the tent!