Siem Reap Times

Friday, May 09, 2025

ASEAN Aims to Become the Fourth-Largest Economy by 2030

Regional growth fueled by the expansion of trade, investment, and the resurgence of tourism.
ASEAN is poised to become the world's fourth-largest economy by 2030, fueled by the expansion of trade and growth in investment. In a speech in Phnom Penh, ASEAN Secretary-General Kao Kim Hourn underscored the region’s economic progress and its efforts to enhance trade relations.

In 2023, foreign direct investment in ASEAN reached $240 billion, while trade volume soared to $3.5 trillion, bolstered by increased involvement from China, the U.S., and other regional partners. Cambodia’s economy also continues to thrive, with international trade exceeding $5 billion in January 2025.

Tourism plays a vital role as well, with ASEAN anticipating a return of visitor numbers to pre-pandemic levels this year. Nevertheless, although Cambodia is welcoming more tourists in 2024 than it did in 2019, revenue from Angkor ticket sales remains below pre-pandemic amounts. Decision-makers are now focusing on infrastructure development and digital transformation to ensure ongoing growth.
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