Cambodia's economy has been dismal, with the country having been ravaged by wars and strife for decades. After the textile industry, tourism remains Cambodia's biggest source of hard currency.
After three decades of violence Cambodia enjoyed its first full year of peace in 1999. This helped progress the economic reforms. Growth resumed and during 2000-2003 has remained about 5 percent. In 2000, with arrivals up 34 percent, and up another 40 percent the following year, prior to the September 11th terrorist attacks in the US, tourism remained Cambodia's fastest growing industry. Cambodia expected 1 million foreign tourists in 2004. Most of Cambodia's economic growth has been driven by the clothing sector and tourism. More than half of visit or arrive at Angkor, while a majority of the remainder head to Phnom Penh. Sihanoukville is another popular tourist destination. It is located in the southeast, the area being endowed with several popular beaches.
After three decades of violence Cambodia enjoyed its first full year of peace in 1999. This helped progress the economic reforms. Growth resumed and during 2000-2003 has remained about 5 percent. In 2000, with arrivals up 34 percent, and up another 40 percent the following year, prior to the September 11th terrorist attacks in the US, tourism remained Cambodia's fastest growing industry. Cambodia expected 1 million foreign tourists in 2004. Most of Cambodia's economic growth has been driven by the clothing sector and tourism. More than half of visit or arrive at Angkor, while a majority of the remainder head to Phnom Penh. Sihanoukville is another popular tourist destination. It is located in the southeast, the area being endowed with several popular beaches.
