Angkor Enterprise profits up 50%, reach $11 million
Angkor Enterprise profits up 50%, reach $11 million
Angkor Enterprise (AE) garnered over $11 million from ticket sales to foreign visitors at the Angkor Archaeological Park in the first two months of 2024, marking a more than 50% increase compared to the same period in 2023.
Between January and February 2024, the park attracted 235,850 foreign visitors, a 50.27% increase from the same period of 2023, leading to earnings of $11.23 million, a 52.09% rise, according to AE, a state-run institution responsible for managing ticket sales for international visitors to the park and Chong Khneas floating village in Siem Reap province and the Koh Ker temple complex in neighbouring Preah Vihear province.
The enterprise accrued $206,298 from boat ticket sales at the floating village and $86,940 from ticket sales to Koh Ker.
Khieu Thy, president of the Khmer Angkor Tourist Guide Association (KATGA), told The Post on March 3 that following a near-total decline during 2020-2022, the influx of foreign tourists, particularly to the archaeological park, is exhibiting signs of resurgence.
He attributed this increase to various factors such as subsiding concerns over the spread of Covid-19, improved global economic conditions and the country’s robust infrastructure including roads, airports and ports.
He added that the influx of foreign travellers is likely to grow if there are no unforeseen negative global or local events.
“I believe that the number of foreign tourists visiting Cambodia will rise as we enhance the promotion and organisation of tourism events, aiming to boost the tourism sector’s appeal,” he said.
On behalf of the association, Thy urged authorities and all Cambodians to collaborate in enhancing the allure and environment of their tourism sector, including improving environmental management, hygiene, services, introducing new tourism products and upholding ethics and the law.
Anheng Sokpheak, president of the Cambodia Chinese Tour Guide Association (CCTGA), stated that the number of foreign visitors had increased compared to the Covid-19 period. However, he said the growth had not been steep.
He noted that the composition of foreigners travelling to Cambodia has shifted since before 2020. He said there is now a mix of visitors from neighbouring countries and Europe, rather than predominantly Chinese.
“Since 2023, we have seen an increase in the number of foreign tourists. As expected, the number will increase significantly in 2024,” he said.
He also expressed hope for a recovery in the number of Chinese tourists.
In 2023, 798,069 foreign tourists purchased tickets to Angkor park, a 177.63% surge compared to 2022. Total revenue from ticket sales amounted to almost $37.2 million marking a 222.68% increase.
The enterprise earned $222,090 from 14,806 visitors to Koh Ker temple complex and $564,671 from boat ticket sales at Chong Kneas.
In 2019, when the country welcomed its highest number of over 6.6 million foreigners, AE’s income surpassed $80.7 million.
Cambodia received 5.45 million international tourists in 2023, a 139.5% increase from 2022. Foreign tourism revenue in 2023 stood at about $3.04 billion, a substantial rise of 115% from $1.41 billion in 2022, as per the tourism ministry.
AE operates under the technical guardianship of the Ministry of Tourism and the Ministry of Economy and Finance on the financial side. Ticket prices for the Angkor park are categorised into three tiers: one-day tickets at $37, three-day tickets at $62 and seven-day tickets at $72.
