You Know Cambodia's Economy is Quickly Developing When... (6) Micro-Loans Surge

Micro-loans mean a surge in small business

You know Cambodia's economy is quickly developing when there is a surge in micro-loans.

'Cambodia's 38 microfinance institutions reported a 44 percent increase in loan disbursements in 2013, according to a report of the National Bank of Cambodia ( NBC), the regulator of banking and finance institutions in the country.'

Apparently the default loan on such loans (loans of less than $10,000) in 2013 was a miniscule 0.7%

http://www.shanghaidaily.com/article/artic
le_xinhua.aspx?id=199165

You Know Cambodia's Economy is Quickly Developing When... (5)

You know Cambodia's economy is quickly developing when Avis Car Rentals announces that it is coming to the kingdom.

Avis said that they will shortly begin operating out of Phnom Penh and Siem Reap. 

The car rental company has signed a licensing agreement with the Thai-based company RMA Group. Operations will also begin in Luang Prabang, Pakse and Vientiane.

You Know Cambodia's Economy is Quickly Developing When...(4)

You know Cambodia's economy is quickly developing when the German car-maker Audi announces it will open its first showroom in the kingdom, shortly.

Audi follows BMW and Porsche/Volkswagen as recent entrants into Cambodia's tiny luxury car market.

Audi's cheapest car is expected to sell for around $US38,000, while it's most expensive available model, the R8 Spyder sports will be priced at around $US175,000.

Mercedes, who have long had a presence in Cambodia, sell between 20-30 new cars annually.

You Know Cambodia's Economy is Quickly Developing When...(3)

Cambodia's health system is ill-equipped to deal with the
increase of high blood pressure among its citizens

You know Cambodia's economy is quickly developing when high blood pressure becomes a serious problem in the kingdom.

As income rises for many Cambodians so to does the access to more protein and alcohol and with that comes hypertension; although just 11 percent of Cambodians have high blood pressure, compared to 31 per cent of Americans, the conditions has jumped over the last two decades from the fifth most preventable risk factor for death to the second.


Worrying, many Cambodian doctors don't take the blood pressure of their patients and therefore approximately 85% of Cambodians with hypertension are unaware of their affliction.

You Know Cambodia's Economy is Quickly Developing When...(2)

You know Cambodia's economy is quickly developing when BMW sets up a dealership in the kingdom for the first time.

The dealership opens next month and has targeted sales of between 100-150 new BMWs in its first year of operation.

You Know Cambodia's Economy is Developing Quickly When... (1)

You know Cambodia's economy is developing quickly when the importation of cosmetic products jumps 140%-  as it did in the first quarter of 2013 compared to the first quarter of 2012.

"While wealthy families and a middle-class are emerging, the beauty sector is booming as well," said a Cambodian beauty therapist.

Sun Heang, the Director of Christina Beauty School agrees; her Phnom Penh enterprise which started in 2002 has blossomed into 4 beauty schools.