ASEAN Aims for Fourth-Largest Economy Position by 2030.
Regional development propelled by the growth of trade, investment, and the resurgence of tourism.
By 2030, ASEAN is poised to become the world's fourth-largest economy, fueled by growth in trade and investment. In Phnom Penh, ASEAN Secretary-General Kao Kim Hourn emphasized the region's economic progress and its efforts to strengthen trade relations.
In 2023, foreign direct investment in ASEAN reached $240 billion, while trade volume soared to $3.5 trillion, benefiting from increased engagement with China, the U.S., and regional allies. Similarly, Cambodia's economy is on a growth trajectory, with international trade exceeding $5 billion in January 2025.
Tourism serves as another vital sector, with ASEAN anticipating visitor arrivals to rebound to pre-pandemic figures this year. Nevertheless, while Cambodia is set to receive more tourists in 2024 compared to 2019, revenue from Angkor ticket sales still lags behind pre-pandemic levels. Policymakers are now focusing on enhancing infrastructure and driving digital transformation to maintain this growth.
In 2023, foreign direct investment in ASEAN reached $240 billion, while trade volume soared to $3.5 trillion, benefiting from increased engagement with China, the U.S., and regional allies. Similarly, Cambodia's economy is on a growth trajectory, with international trade exceeding $5 billion in January 2025.
Tourism serves as another vital sector, with ASEAN anticipating visitor arrivals to rebound to pre-pandemic figures this year. Nevertheless, while Cambodia is set to receive more tourists in 2024 compared to 2019, revenue from Angkor ticket sales still lags behind pre-pandemic levels. Policymakers are now focusing on enhancing infrastructure and driving digital transformation to maintain this growth.
