“Cambodia, which was once a country synonymous with conflict and poverty, now has one of the fastest growing economies in Asia”
An economic transformation, demographic change and greater access to digital resources are all driving demand for study abroad among Cambodian students. Mark Ashwill, managing director of Capstone Vietnam, shares why the market is ripe for overseas institutions looking to recruit international students, and what they should consider when they do.
Cambodia, which was once a country synonymous with conflict and poverty, now has one of the fastest growing economies in Asia. The country’s gross domestic product has grown by 7% or more each year since 2011 and is expected to maintain that pace through 2017, according to Asian Development Outlook 2016, produced by the Asian Development Bank.
The country has embraced the “factory Asia” model of economic growth, deploying low-cost labor to manufacture products for export. As the price of labor increased in the People’s Republic of China and other Asian countries, Cambodia was able to attract many of these investors, especially in the production of garments and footwear for export.