Economy

Phnom Penh is Cambodia's economic centre as it accounts for a large portion of the Cambodian economy. Double-digit economic growth rates in recent years have triggered an economic boom in Phnom Penh, with new hotels, restaurants, bars, high rises and residential buildings springing up around the city.

The main economy is based on commercial interests such as garments, trading, and small and medium enterprises. In the past few years the property business has been booming, with rapidly increasing real estate prices. Tourism is also a major contributor in the capital as more shopping and commercial centres open, making Phnom Penh one of the major tourist destinations in the country along with Siem Reap and Sihanoukville. According to the World Travel and Tourism Council, tourism made up 17.5 percent (US$2,053 million) of Cambodia's GDP in 2009 and accounts for 13.7 percent of total employment.[26] One of the most popular areas in Phnom Penh for tourists is Sisowath Quay, alongside the Tonle Sap River. Sisowath Quay is a 3-mile strip of road that includes restaurants, bars, and hotels.[27] The US$2.6 billion new urban development, Camko City, is meant to bolster the city landscape. The Bureau of Urban Affairs of Phnom Penh Municipality has plans to expand and construct new infrastructure to accommodate the growing population and economy. High rise buildings will be constructed at the entrance of the city and near the lakes and riverbanks. Furthermore, new roads, canals, and a railway system will be used to connect Camko City and Phnom Penh.[28] Other projects include:

• Grand Phnom Penh International City (under construction)
• De Castle Royal Condominium[29] (Completed)
• International Finance Complex (Under construction)
• Gold Tower 42 (On hold 32 floors)
• OCIC Tower (Completed)
• Kokling super second floor house
• River Palace[30] (Under construction)
• Vattanac Capital Tower (completed)
• The Peak (under construction

With booming economic growth seen since the 1990s, new shopping retails have opened as well as western-style such as Sorya Shopping Center, City Mall, Aeon Mall and Parkson Mall. Many international brands had opened such as Mango (clothing), Salvatore Ferragamo, Montagut (clothing), Hugo Boss, Padini and so on. Phnom Penh is coming a central of many international financial banks and shopping centers in the middle of South-east Asia lately.

The tallest skyscraper in Phnom Penh is Vattanac Capital Tower[31] at a height of 188 metres (617 ft), dominating Phnom Penh's skyline with its neighbour skyscraper Canadia Tower (OCIC Tower). The tower was topped out in May 2012 and scheduled for completion in late 2012. Modern high rises have been constructed all around the city, not concentrated in any one particular area.

The Central market Phsar Thmei is a tourist attraction. The four wings of the yellow colored market are teeming with numerous stalls selling gold and silver jewellery, antique coins, clothing, clocks, flowers, food, fabrics and shoes. Phsar Thmei is undergoing under a major renovation, along with the creation of newer stalls.