CAMBODIA

Cambodia, officially known as the Kingdom of Cambodia and once known as the Khmer Empire, is a country located in the southern portion of the Indochina Peninsula in Southeast Asia with the total area 181,035 square kilometers (69,898 square miles), bordered by Thailand to the northwest, Laos to the northeast, Vietnam to the east, and the Gulf of Thailand to the southwest.

Cambodia's climate, like that of the rest of Southeast Asia, is dominated by monsoons, which are known as tropical wet and dry because of the distinctly marked seasonal differences. Cambodia has a temperature range from 21 to 35 °C (69.8 to 95.0 °F) POPULATION & RELIGION Cambodia has a population of over 15 million. The official religion is Theravada Buddhism, practiced by approximately 95 percent of the population. The country's minority groups include Vietnamese, Chinese, Chams, and 30 hill tribes. Cambodia's birth rate is 25.4 per 1,000. Its population growth rate is 1.7%. 50% of the Cambodian population is younger than 22 years old.

The Khmer language is a member of the Mon–Khmer subfamily of the Austroasiatic language group. French, once the language of government in Indochina, is still spoken by many older Cambodians. French is also the language of instruction in some schools and universities that are funded by the government of France. Cambodian French, a remnant of the country's colonial past, is a dialect found in Cambodia and is sometimes used in government, particularly in court. However, the increasing number of tourists from around the world has resulted in the shift of language from French to English

US dollars are as commonly used as the Cambodian Riel and even Thai Baht is acceptable in many places. Most hotels and many restaurants and shops set their prices in dollars. Small transactions are usually done in Riel. Always carry some small Riel for motorcycle taxis, snacks, beggars and other small purchases. Banknotes is currently issued as 50, 100, 200, 500, 1000, 5000, 10,000, 50,000 and 100,000 riels.

Banks mostly open from 8:00AM to 3:00PM or 4:00PM, Monday to Friday as the official date and time. Some are opened on Saturday morning until 11:30AM. ATMs are available 24 hours. Business offices are started from 8:00AM to 12.00PM and 2:00PM to 5:00PM from Monday to Saturday.

        Cambodia's economy was expected to grow by 5.6 percent in 2023, pushing up the Southeast Asian country's gross domestic product (GDP) to 32.17 billion U.S. dollars. For 2024, Cambodia's economy is forecast to achieve a growth rate of around 6.6 percent, which will increase the GDP to 35.16 billion U.S. dollars.

   The Cambodian foodservice market was valued at USD 1,711.41 million in 2020 and is projected to register a CAGR of 13.57% during the forecast period (2021-2026)
   Strong economic growth, rapid urbanization, constant rise in disposable incomes and increasing of middle-class income population are the key factors that contribute to the development of the Cambodian foodservice market. Sales of consumer foodservice continue to be led by the full-service restaurants segment, which is dominated by independent restaurants.
   More than 2,850 restaurants/ food shops in 2019 reported by Tripadvisor.com.
   Recent Development :
   2019: Dairy Queen launched its 12th store in Cambodia. The new branch is located at Kampuchea Krom Blvd, an area filled with businesses and schools.
   2020: Express Food Group (EFG), one of Cambodia’s leading F&B businesses and franchise operators, has launched its own food delivery app in the country, called “HungryApp”
   2021:
   The American-base fast-food chain Pizza Hut was expected to debut in Cambodia by a local-food chain corporation United Food Group (UFG), the owner of Park Café, one of the leading restaurants in Cambodia
   The Korean Food Research Institute (KFRI) and the Korean institute for advanced technology (KAIT) have conducted 3 years of research on food production in Cambodia under supported by Ministry of Industry, Cambodia

   Total healthcare expenditures account for approximately 6% of Cambodia’s GDP and is increasing in the country’s high-growth economy.
   In the Personal Care segment, the number of users is expected to 1,322.7 million users by 2025 and the average revenue per user (ARPU) is expected to amount to USD 246.76.
   Revenue in the Personal Care segment is projected to reach USD 222,960 million in 2021. Revenue is expected to show an annual growth rate (CAGR 2021-2025) of 10.51%, resulting in a projected market volume of USD 332,561 million by 2025.
   Averaged age of total population in Cambodia (15.95 million) is 27 years old which is youngest in ASEAN while 74% of population is below age 34. More than 50% of Cambodians are teenagers lower 25 years old who are main target buyers of health, beauty and cosmetic products