Through government action and a cultural norm of wearing face masks when ill, Cambodia has seen few get sick during the Covid-19 pandemic. According to the World Health Organization, Cambodia has 275 Covid cases and zero Covid-related deaths as of the last week of September.
However, the pandemic has had an impact on Cambodia’s economy. Cambodia has been one of the fastest growing economies in the world, with annual GDP growth between 6 percent and 7.5 percent since 2009. But the Asian Development Bank estimates GDP will contract 5.5 percent in 2020; reversing gains made in combating poverty.
In 2008, 47.8 percent of the population lived below the poverty line, declining to 12.9 percent by 2018. The Asian Development Bank estimates the contraction will push around 20 percent of the population below the line in 2020.
The decision to close the country’s casinos limited Covid’s spread but impacted the economy because tourism...
AstroPay is the pioneer payment solution for thousands of consumers in Latin America, Asia and Africa, who want to purchase online on international sites, that helps merchants access new markets through its main product, AstroPay Card.
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.