In a significant stride towards enhancing the experience of foreign tourists in Cambodia, the National Bank of Cambodia has introduced the Bakong Tourist AppThis innovative platform aims to simplify payment processes for visitors, allowing them to engage with Cambodia's ubiquitous QR code payment system at over three million retail merchants scattered throughout the country.

The launch of the Bakong Tourist App is a direct response to an initiative put forth by Prime Minister Hun Manet, reflecting a commitment to providing foreigners with efficient, hassle-free payment options while enjoying their travels in CambodiaTourists will benefit from a seamless digital payment journey that not only augments convenience but also addresses common issues such as rejected old or damaged U.Sdollar bills that often plague international travelers, thus promoting a more inviting atmosphere for the tourism sector.

According to the National Bank of Cambodia, tourists visiting the country can now conveniently download the Bakong Tourist App onto their smartphones, register as users, and recharge their accounts through airport ATMs or designated bank branches

This teardown of conventional barriers will save travelers from the cumbersome process of currency exchange, allowing for effortless transactions in local shops through QR code scanning.

The Bakong Tourist App represents yet another achievement in the National Bank's quest to cultivate a cashless economyPresident of the National Bank, Chea Serey, noted that the new application not only provides foreign visitors with QR payment options but also encourages greater utilization of the Cambodian riel by integrating it into everyday transactionsCurrently, over 3.3 million businesses in Cambodia accept QR code payments, while approximately 150,000 points of sale (POS) are capable of processing credit card transactionsWith the launch of the Bakong Tourist App, foreign visitors will find a much more accommodating shopping environmentIn forthcoming updates, the app is set to directly link foreign users' credit cards, streamlining both recharging and purchasing processes.

The tourism industry in Cambodia has warmly welcomed the introduction of this app

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The president of the Asia-Pacific Tourism Association (Cambodia Chapter) stated that the Bakong Tourist App is a pivotal upgrade toward enriching foreign tourists' experiences in CambodiaThe advent of QR code payments not only streamlines shopping for tourists but also fosters a culture of spending in the local currency, which aids the digital evolution of the tourism industry and its ongoing recovery.

Recent reports from the Ministry of Tourism in Cambodia reveal that thanks to a rebound in both local and regional economic growth, enhanced infrastructure connectivity, and an increase in international flight options, the number of foreign tourists visiting Cambodia surged significantly in the first half of this yearA staggering 3.16 million visitors graced the kingdom between January and June, marking nearly a 23% increase compared to the same period last yearNotably, Chinese tourists comprised nearly 390,000 of this influx, representing an impressive 45% growth.

Additionally, the latest data from the Angkor Archaeological Park Management and Protection Authority underscores this trend, with over 580,000 international travelers visiting the park in the first seven months of 2024 alone, signifying a remarkable 33% increase year-on-year

Ticket revenues from these visits soared by 33.8%, with Chinese tourists contributing to a 33.4% growth in numbers, accounting for approximately 7.5% of the park's total foreign visitor countThis burgeoning influx clearly indicates that Cambodia's tourism sector is on a path of revitalization.

The tourism industry is a vital pillar of the Cambodian economy, often referred to as "green gold." It is recognized as a key driver for economic recovery following the COVID-19 pandemicIn 2019, Cambodia welcomed over 6.6 million foreign tourists, bringing in nearly $5 billion in revenue, which accounted for 12% of the country’s GDP and created jobs for over 600,000 individualsThe Ministry of Tourism has expressed optimism that by 2025, the tourism sector will rebound to its pre-pandemic levels observed in 2019.

The Bakong payment system was officially launched by the National Bank of Cambodia in October 2020, designed specifically to promote the use of the Cambodian riel as well as facilitate widespread access to electronic payment methods among the population

As reported by the National Bank, as of June this year, the number of institutions participating in the Bakong payment system increased to 72, processing over 220 million payment transactionsAmong these transactions, approximately 98.05 million were based on the local currency, totaling around 77 trillion riels, while transactions in U.Sdollars amounted to over 120 million, with a total value reaching $46.33 billionBy improving payment efficiencies and minimizing transaction costs, this system fosters financial innovation, ultimately providing both consumers and international customers with enhanced convenience.

The official introduction of the Bakong Tourist App, tailored specifically for foreign visitors, is expected to propel Cambodia's tourism industry towards rapid growth while aiding in the country’s digital economic transformationWith an array of international flights and expanded tourist attractions, along with a robust digital payment infrastructure, Cambodia is well on its way to reclaiming its status as a premier travel destination in Southeast Asia.