Cambodia’s Population and Urbanisation Trends: Growth and Opportunities

Cambodia’s population sits around 17.4 million in 2023 and projections indicate significant growth, with an estimated population of 23 million by 2030 and 32.5 million by 2050, reflecting an annual growth rate of 1.06%. Alongside this population growth, urbanisation rates in Cambodia are also on the rise. This article explores the implications of these trends, the factors driving the growth, and the opportunities present for various industries.

Population Growth and Urbanisation

Currently, 24.2% of the Cambodian population resides in urban areas. However, this percentage is projected to increase to 30.6% by 2030 and 41.1% by 2050. This progression of urbanisation is reshaping the social and cultural landscape as more individuals embrace city life and new cultures are introduced.

Factors Driving Population Growth

The increase in life expectancy in Cambodia, which currently stands at 67.7 years, plays a significant role in population growth. As people live longer, they contribute to the overall population expansion. Additionally, various socioeconomic factors, such as economic growth and improved living standards, also contribute to the rising population.

Opportunities

As the population continues to grow and the economy continues to expand, the increased demand for construction creates substantial opportunities for construction businesses and property investors, both local and foreign. These upward trends in development encourage economic growth and job creation, fostering a positive investment climate.