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In 2008, the total population was 13.9 million, and after 10 just years, there has been an increase in population of approximately 14.7%, with the current population estimated to stand at 16.3 million in 2018.

The growth of the population is significantly higher than the neighbouring counties where Thailand population growth is only at approx. 4.4% in 10 years according to trading Economic data. In the same time, Vietnam stands at 12.19% respectively.  The prevailing demographics have been substantially positive for overall productivity, providing a growing workforce constituted of young, increasingly better educated individuals which in turn have stimulated higher levels of trading and created demand for improved living standards. Economic activity and optimism for the future, supported by stable government and welcoming investment policies have created the conditions to attract increasing numbers of foreign investors, demonstrated by the considerable growth in FDI over the past 10 years.

Another demonstration of Cambodia’s significant development has been the growth in GDP. Since 2008, Cambodia has seen a growth in GDP of 48.2%, from US$10.3 billion in 2008 to US$20 billion at the end of 2016. This is expected to reach US$24.6 billion by the end of 2018 according to an Oxford Economics forecast. The average growth within the last 10 years has been calculated at 9.12%.

While GDP has been growing at a consistent rate, the labour force has also increased at an average of 2.3% y-o-y, with the total recorded labour force reaching 9.3 million at the end of 2017. The knock-on effect of this has been an improvement in Cambodia’s living standard with the rise of better construction quality, better residential supply, higher incomes, and lower poverty rate. More specifically, the poverty rate dropped to 20.5% at the end of 2011 from 53% in 2004.

Lucky Supermarket was the first supermarket to enter with the net leasable area of 2,150 sqm in 1991. Pencil Supermarket entered the market in 1999 with the a little over 5,000 sqm (NLA), closely followed by Sorya Mall, one of the largest shopping centers to be introduced to Phnom Penh at approximately 24,000 sqm. Consequently, at the time there were few high-end retail products available except those imported mostly from Thailand and China. In light of the low purchasing power of the majority of the consumer base and the little exposure to international branding, retailers of that kind were not in high demand.

Arguably, Phnom Penh’s retail market did not make any significant progress towards modernization until 2014. TK Avenue saw the introduction of the first community mall to the market, as was able to attract high quality international brands including, Adidas, BreadTalk, and Samsung. There are also many branches such as Lucky Supermarket, Brown Coffee, Legend Cinema, Kfour Electronics and Metro Restaurant that were also made available to the market.

On June 30th 2014, The first Aeon Mall was launched and changed the face of Cambodia’s retail market. 186 tenants were signed by the 28th April 2014, over three quarters of the mall’s tenants were foreign-owned, including 49 stores from Japan, 21 from Europe and 9 from the US. There were 42 Cambodian-owned businesses including banks and clothing retailers. Aeon Mall introduced a high amount of new international brands to the market and demonstrated the shift in sentiment toward Cambodia from the international community by launching with 100% occupancy, the first to be recorded in Cambodia’s retail history.

As the retail market has been accelerating in the inner city, new retail developers have been seeking suburban areas for their new retail developments due to high amount of competition in the cenralised regions and the lower land value in the suburbs. In 2018, the second mall of Aeon was launched in the northern suburb area of the capital, marking it the second milestone by Aeon.

Our Top Tip For
New Arrivals

On business:

1. During daytime the traffic usually congested in central districts, thus allow sufficient time to get to meetings

2. English as language of business is widely spoken

3. The traditional Cambodian greeting, known as Som Pas, is made by putting your two hands together (with fingertips near the chin) and a giving a slight bow with your head

4. It is very important to determine at the outset in any business dealings the hierarchy and seniority of whom you are dealing with, and those responsible for decision-making. Correspondence and communications should be addressed to the senior decision-makers

5. Highest rank in business is "Okhna"



Cambodian Riel (KHR)


Hello: (johm riab sua)
Thank you: (aw kohn)

International Dialing Code


Time Zone


Cost of a Pair of Jeans

232,000.00 KHR

Cost of a Cup of Coffee

14,000.00 KHR

Cities in Cambodia

Contact Us

Thyda Pov
10th Floor, Keystone Building | Norodom Blvd Tonle Bassac | Chamkarmon District | Phnom Penh, Cambodia
+855 12 537 780 |