Annotated Bibliography - Assignment PDF

Running head: PHNOM PENH
Annotated Bibliography:
Phnom Penh
Name of the student:
Name of the university:
Author note

1PHNOM PENH
Chhay, L., Mian, M.M. and Suy, R., 2015. A comparison of small businesses costs and
returns in developing socioeconomic: A study in phnom penh, Cambodia. International
Journal of Economics, Finance and Management Sciences, 3, pp.406-10.
In this particular article, it is stated that a major part of the Cambodian population is
involved in small business and enterprises rather than being a paid employee. It has resulted in a
major economic development in Cambodia. Chhay, Mian and Suy (2015) have mentioned that in
the recent times, the priority of small businesses have grown more than traditional agricultural
practices and other generic services. Growth in tourism can be found as one p the reasons behind
this. As there are an increasing number of tourists, therefore the local businesspersons are getting
involved in entrepreneurial small businesses to increase their sale and stand independent.
This research study has evaluated the ROI on the sample of three small businesses of
recycling shop, antique shop and small restaurant in Cambodia. A standardized financial tools
and techniques were used to identify the ROI and cost of investment over duration of five year.
The method of sensitive analysis was by utilizing internal rate of return and total analysis of
current value. The ROI was used to identify annual return and the payback period. The benefit
was analyzed in five year along with the cost ratio to assess the performance of small businesses
in Cambodia and if tourism played any role in it. The socio- economic factors played a part in
this research, which in turn affects tourism. The research findings have recommended that the
three businesses, which were selected as research sample can be suitable in gaining profit to put
a positive impact on the socio- economic factors of Cambodia and influence tourism.

2PHNOM PENH
Carter, R.W., Thok, S., O’Rourke, V. and Pearce, T., 2015. Sustainable tourism and its use
as a development strategy in Cambodia: a systematic literature review. Journal of
Sustainable Tourism, 23(5), pp.797-818.
In this article, the authors have mentioned that, the governments in many developing
countries encourage sustainable tourism. It is done irrespective of the fact that there are many
restrictions and issues in the form of development strategy. Cambodia was specifically focused
in this research to describe about the sustainable tourism issues in a developing country. A
review of the literature and journals has been effective in understanding the upcoming challenges
in the tourism sector of Cambodia. Total 77 documents were reviewed on the sustainable tourism
of Cambodia, which provided opportunity for future research. The previous literature were
connected to highlighting of eco- tourism or nature- based tourism, involving community for
getting sustainable results, the viewpoints of the stakeholders to add value to the factors of
tourism success, considering cultural tradition as the prime attraction for the tourists and
significance of FDI in modifying the future growth of tourism in Cambodia. For the purpose of
this research, there was an unequal balance imposed on the government norms and policies of
tourism. The limitation of the research was due to the scarcity of relevant guidance on realizing
the motto of sustainable tourism. Moreover, there was a gap in considering that the socio-
economic and the cultural factors influenced sustainable tourism in any way. The research
findings have shed light on the facts that in sustainable tourism, there is an emerging question of
basic financial and social capability and the way the issues in policy are considered puts lot more
stress on the demands of tourism industry. This research has paved the way for further studies on
the development of Cambodian tourism sector and the resolution of the emerging issues.
Winter, T., 2010. Heritage tourism. Heritage and globalisation, p.117.

3PHNOM PENH
The writer has mentioned in this book that tourism was and is one of the key ways by
which heritage and globalization could be connected. There were several studies conducted in
this matter from a long time and tourism was always conducted as a symbol of modernity and
social transformation. It was mentioned in this book that the increasing growth of local and
international tourism in Asia is raising question about the theoretical framework and the
conceptual models introduced in the tourism sector. This research has been effective in finding
out the challenges to cope with the complications of international tourism in the upcoming days.
The writer has stated that one of the major players in the Asian market of tourism ids the casino
and the gaming sector. The reports of the newspapers and magazines were reviewed to write this
book where it was mentioned that the casino industry in Asia is raging. Therefore, Cambodia
required to target in the gaming sector for enhancing their tourism industry. Phnom Penh is one
of the major areas having legally registered casinos. Therefore, it has resulted in making the area
a major spot for tourist attraction. The findings of the book were evaluated to focus on the fact
that the increasing importance of gaming sector was an additional economic benefit for
Cambodia. It was beneficial in developing the place’s urban landscape, which attracted more
tourists all over the year. The limitation of the study was that it did not research anything else
about the opportunity apart from the gaming and casino sector. There might have been some
other attractions in the Phnom Penh area, which could have gathered tourists but there was
nothing mentioned about it.
B2B CAMBODiA. (2018). Cambodia Smiles For Foreigners | B2B CAMBODiA. [online]
Available at: https://www.b2b-cambodia.com/news/cambodia-smiles-for-foreigners/
[Accessed 27 Apr. 2018].

4PHNOM PENH
As per the survey of Expat Insider, this article was reviewed to find out that Cambodia is
in the fourth position out of ten countries in welcoming the foreign visitors. The welcoming
attitude of the Cambodian citizens and the friendly nature of the local people increased their
percentage among all other places to stay ahead in being the most attractive tourist destination.
As per the survey, it was found out that the place was suitable for expatriates to migrate because
of the facilities provided to them. The research findings have showed that four out of five tourists
have considered the welcoming attitude of the locals as the prime factor behind their visit to that
place. According to one official of the Cambodia National Tourism Alliance, they might not
have beautiful and decorated spots but the generous smile of the local people is something
unique that is not available in other areas. A press conference was held at the Chinese embassy
of Phnom Penh to amend the policies properly for attracting more tourists. The article has
focused on the economic benefit of the place due to frequent tourist visit, which was around
$3.63 billion revenue in 2017 by increasing at a rate of 13.3% from 2016. Among the foreign
tourists, Chinese travelers topped the list in visiting Cambodia with 1.2 million in 2017. The
country is expecting to welcome around 6 million foreign tourists in 2018. This prominent
survey conducted on the tourism in Cambodia provided a detailed analysis about tourism by
collecting responses from 12500 individuals of 166 different nationalities living in 188 countries.
This welcoming nature of the local people of Cambodia made it one of the heritage sites of
UNESCO. It has resulted in offering more tourist attractions and putting a positive impact on the
economy of the country.
Sokunthea, H. (2018). Industry Experts Say Ecotourism Has Potential to Expand - The
Cambodia Daily. [online] The Cambodia Daily. Available at:

5PHNOM PENH
https://www.cambodiadaily.com/business/industry-experts-say-ecotourism-has-potential-
to-expand-132411/ [Accessed 27 Apr. 2018].
In the article of the Cambodia Daily, it was reported that Cambodia is one of the rapidly
developing tourist destination in the world. Reports and statistics have proved that around 3000
people have visited the place in the first five months of 2017. It was found out that this
prominent tourist destination has the capability to enhance ecotourism by providing a clear list of
its offerings. The tourism authorities in Cambodia are concerned about the ways by which it can
be developed further to promote eco- tourism at par with the functions of the private sector. The
research findings have focused on the fact that the tourist visits to the coastal areas and the
ecotourism sites have increased at the rate of 6% in 2014 and 2017. It has left behind the growth
of general tourism by 11% as revealed by the statistics of the Tourism Ministry. With the
increase in tourism, the tourist visits to mountain areas have started increasing. The tourism
company offices situated in Phnom Penh have faced an increase of 30% in mountain trekking
and home stay packages. As per the review of an official, it was found out that in overall
business, Cambodia has lost to Europe but succeeded them in terms of nature tourism. Therefore,
it can be evaluated that the nature tourism in Cambodia is proving to be beneficial for the
country so they should put more effort in securing the top position by restructuring the urban
landscape and properly maintain the tourist sites.
B2B CAMBODiA. (2018). Hospitality Continues To Drive Cambodian Employment | B2B
CAMBODiA. [online] Available at: https://www.b2b-cambodia.com/news/hospitality-
continues-to-drive-cambodian-employment/ [Accessed 27 Apr. 2018].

6PHNOM PENH
This article has focused on the number of visiting tourists in Cambodia during 2017. The
number was approximately 1.5 million in the first quarter, with an increase from 1.3 million in
the year 2016. According to career report published in everjobs.com.kh, the tourism sector has
experienced exponential growth by posing positive impact on the economy, industries and
employment of the country. The report has revealed that this growth is dominant since the late
1990s and the early 2000. This positive impact on the employment of the country has been
beneficial in seeking local talents to cope up with the hospitality requirements of the visiting
tourists. As per the recent statistics it was found out that, the hospitality industry in Cambodia is
the leading employer in the country for the past 3 years. From 2015, the job portals have posted
for 5400 vacancies, which is quite in contrast to the earlier years. The benefit was experienced
from both the ends as the hospitality industry was in not only the top of employing list but also
the most looked for category in job searching. In three years, there were 17000 job applied in the
hospitality sector. The positions of receptionist and waiters demanded more employees with
2000 and 1000 applications received respectively. The findings revealed that the job
opportunities in the hospitality sector revolved mostly in the prominent areas such as Phnom
Penh. It was a benefit for this place and they became the leading hirers of employees in the
tourism sector. It has resulted in enhancing the tourism facilities of the place and posed a
significant economic impact. The research findings were analyzed to consider Phnom Penh as
one of the potential tourist attractions in the coming days along with being a major employer of
new talents.

7PHNOM PENH
Bibliography
B2B CAMBODiA. (2018). Cambodia Smiles For Foreigners | B2B CAMBODiA. [online]
Available at: https://www.b2b-cambodia.com/news/cambodia-smiles-for-foreigners/ [Accessed
27 Apr. 2018].
B2B CAMBODiA. (2018). Hospitality Continues To Drive Cambodian Employment | B2B
CAMBODiA. [online] Available at: https://www.b2b-cambodia.com/news/hospitality-continues-
to-drive-cambodian-employment/ [Accessed 27 Apr. 2018].
Carter, R.W., Thok, S., O’Rourke, V. and Pearce, T., 2015. Sustainable tourism and its use as a
development strategy in Cambodia: a systematic literature review. Journal of Sustainable
Tourism, 23(5), pp.797-818.
Chhay, L., Mian, M.M. and Suy, R., 2015. A comparison of small businesses costs and returns in
developing socioeconomic: A study in phnom penh, Cambodia. International Journal of
Economics, Finance and Management Sciences, 3, pp.406-10.
Sokunthea, H. (2018). Industry Experts Say Ecotourism Has Potential to Expand - The
Cambodia Daily. [online] The Cambodia Daily. Available at:
https://www.cambodiadaily.com/business/industry-experts-say-ecotourism-has-potential-to-
expand-132411/ [Accessed 27 Apr. 2018].
Winter, T., 2010. Heritage tourism. Heritage and globalisation, p.117.