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Cambodia, officially the Kingdom of Cambodia, is located in the southern portion of the Indochina peninsula in Southeast Asia, bordered by Thailand to the northwest, Laos to the northeast, Vietnam to the east and the Gulf of Thailand to the southwest. It is 181,035 square kilometres in area.
Cambodia has three main economic centres: Phnom Penh (Capital), Siem Reap and Sihanoukville. Other large cities include Takeo, Srey Saophon, Kompong Cham, Poipet, Battambang and Kampot.
In Cambodia, around 95% of the population practise Buddhism. By constitution, Buddhism is considered the official religion of Cambodia. Most of the official holidays are. In Cambodian culture, people has a strong sense of “work life balance.” We can see from the large number of holidays. Of course, because of the commercial competitions and pressure between major cities, this attitude is changing slowly. Because there are large number of Chinese living in Cambodia, influenced by Chinese culture, Cambodian also has the habit of celebrating Chinese traditional festivals, including Spring festival, Ching Ming festival, Dragon Boat festival and Mid-Autumn festival etc.
A report from Minister of Foreign Affairs indicates that there are citizens from 9 countries applied for visa extension in 2018, including 300,000 Chinese. Other foreign citizens are from Indonesia, Korea, Vietnam, Philippine, Thailand, the United States, France. From the foreign investment growth and the check in rate of the condominium and the first hand property project, we can see the numbers are still growing.
Cambodia attracts a large number of foreigners to travel and live. According to the Annual Global Retirement Index, Cambodia was rated as one of the most valued retirement destinations in Southeast Asia. This index mainly compares the choice of retirement destinations, with the weighing of some very important retirement factors to evaluate the quality of the retirement life, such as medical cares, physical fitness services, visa extensions, rents and food expenses.
The growth rate of population growth in Cambodia is about 1.6% annually. The third population census report indicates that the population exceed 15,280,000 in Cambodia. In 2020 it hit 16,700,000. Phnom Penh, the capital, is the most populous city, having population exceeding 2,120,000. The population density in Cambodia is about 86 per km in 2019. There are averagely 4.6 people in every family unit. 48.9% of the people live in central area. Because those areas are concentrated with prosperous provinces.
Khmer people accounts for 90% of Cambodia. Minorities include Chinese, Vietnamese and Muslims. Cambodia is also a tourist hotspot for foreigners.
The average age is 27. Youth under 34 consists 70% of the total population. The whole population structure demonstrates a perfect pyramidic shape. The rejuvenation of population, manpower and demographic dividends play important roles in economic development in Cambodia. This little country in Southeast Asia which is popular of rural life, is now showing its modern side.
Khmer is the official language of Cambodia. Many thought that Khmer and Thai are the same. In fact, Khmer and Thai may seem alike, but they are two totally different languages. There are many differences in terms of pronunciation and writing. Besides, English and Chinese are also used widely in Cambodia. Because of the strong connection with China, Cambodian government values Chinese education very much. There are 72 public Chinese schools organized by Chinese Consolidated Benevolent Association in the country. There are many Chinese living in Phnom Penh. They have their own social circles. Besides Khmer, they also speak Chaoshan dialect, Cantonese and Hakka. There are Chinese characters all over the streets in Cambodia. If one can speak Chinese, there would be no problem living in Cambodia.
There are 3 currencies used in Cambodia: Riel, USD and RMB. KHR is the official currency in Cambodia. It was first issued in 1980. USD is one of the most frequently used currencies. It is used in 80% of savings and loans in banks. RMB, on the other hand, is mainly used in Sino-Cambodian trades.
In 1970, Cambodian Central bank was bombed by Khmer Kraham in the revolution. Cambodia lost its currency system in this political chaos. The value of cash and asset became zero under the regime of Khmer Kraham. In this situation, USD replaced KHR effectively. People got used to using USD after that.
The board use of USD is a huge advantage for property investment in Cambodia. In this way, it can effectively avoid the effect of exchange rate spreads. Besides, there is no foreign exchange restriction. We can come and go easily. Investment becomes more convenient.
