International tourist arrivals are expected to fall this year due to the global economic slowdown and this will have a knock-on effect in slowing down growth in the services sector, according to a just-released Ministry of Economy and Finance report. “The growth of the number of international tourist arrivals further slowed down to 2.6 percent in the first half of 2016, compared to 4.6 percent in the same period of 2015 and earnings from the tourism sector could possibly be lower given the expected decrease in high-spending tourists from Western Europe and Russia,” said the Ministry of Economy and Finance report, “Cambodia Macroeconomic Monitor Mid-Year Assessment 2016.”
 

The report, released on Tuesday, pointed out that due to a fall in tourist arrivals from affluent countries because of the global economic slowdown, the services sector will only grow 6.7 percent this year ‒ compared to 7.1 percent last year. “Annual growth in the services, after peaking at 8.7 percent in 2014, has been on a downward path, and this trend is likely to continue in 2016. Growth in the services sector fell from 8.7 percent in 2014 to 7.1 percent in 2015,” read the report.
 

According to the ministry report, the slowdown was across the board in all subsectors, except in transport and communications. The mid-year assessment report also cited Myanmar as the country posing strong competition to Cambodia’s tourism sector and said the underinvestment in the Kingdom’s tourism-related infrastructure and other support services, together with a lack of skilled human resources in the hotels and hospitality industry, further worsened prospects for the sector.

 

read more http://www.khmertimeskh.com/news/29191/report--tourist-arrivals-to-fall/

 

 

-- © Copyright Khmer Times 01/09

has the minister of tourism been informed?

3 minutes ago, williamgeorgeallen said:

has the minister of tourism been informed?

He could not be reached. He is on Holiday in Myanmar.

The report refers to Cambodia only i presume

 

On 01/09/2016 at 10:41 AM, soalbundy said:

The report refers to Cambodia only i presume

 

  It may; but it'd be nice if they lowered the cost of non-stop flights to Thailand anyway!