Cambodia is entering a new phase of economic growth—driven not by factories or farmland, but by smartphones, mobile apps, and online marketplaces. The Cambodia digital economy growth story is picking up speed. In 2023, the country’s digital economy is projected to hit USD $1.62 billion in transaction value. With an annual growth rate of 15.37%, that figure is expected to nearly double, reaching USD $2.87 billion by 2027. This rapid rise is being fueled by widespread internet access and mobile use.
Connectivity Fuels Cambodia Digital Economy Growth
Cambodia's digital economy in 2021
As of early 2023, 67.5% of Cambodians had internet access, with over 11.37 million users online. Mobile usage is even more impressive—131.5% mobile penetration means most Cambodians have more than one mobile connection. And 90.6% are regularly using digital services like eCommerce, mobile payments, and digital banking. This level of connectivity is laying the groundwork for a thriving digital marketplace.
eCommerce Leads the Way
Among all digital sectors, eCommerce is the clear front-runner, generating an estimated USD $1.287 billion in 2023 alone. That’s far ahead of digital media and online services. As people grow more comfortable shopping online, Cambodia’s retailers are responding with mobile-first platforms, digital payment options, and fast delivery models. This trend shows no signs of slowing down.
Startups and Fintech on the Rise
Cambodia's startup ecosystem is also expanding quickly. From fewer than 50 tech startups in 2013, the number jumped to around 300 by 2018, many focused on fintech, digital marketplaces, advertising, and eCommerce. The fintech sector, in particular, has seen strong momentum. The number of debit cards doubled within five years, reaching 2.65 million in 2019. Mobile wallets and digital banking apps have grown rapidly, making financial services more accessible than ever before.
A Young, Connected Population
Cambodia’s digital future is being shaped by its young people. The country has a median age of just 25, and smartphone adoption is widespread. There are 10.7 million smartphones connected to the internet and 20.8 million mobile connections—that’s 124% of the population.
Social media plays a big role too. In 2021, 71.3% of Cambodians were active on social platforms, up from just 27% in 2016. This shift in engagement supports not just entertainment but also business, marketing, education, and activism.
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Optimism and Realism
Cambodians are highly optimistic about the digital future. A survey showed that 90.8% believe the digital economy will create new job opportunities. But not everyone is convinced it will be smooth sailing—15.9% caution that expectations may exceed reality.
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This mix of hope and caution reflects the need for long-term investment in digital skills, infrastructure, and inclusive access.
Cambodia Digital Economy Growth Opportunities and Next Steps
The potential is clear. But challenges remain. Many rural areas still lack stable internet. Digital literacy varies across age groups and regions. And while startups are growing, they still face hurdles in funding and regulation.
To unlock the full potential of Cambodia digital economy growth, both public and private sectors must invest in education, innovation hubs, and modern infrastructure. Continued support for tech entrepreneurs and policies that foster inclusive digital access will be key.
Cambodia Digital Economy Growth: Final Thought
Based on the explanation of Cambodia Digital Economy Growth above, the country's digital economy is no longer an idea for the future. Today, it’s a powerful force that can't be underestimated. With strong momentum, a connected population, and growing investor interest, the country is positioned to become a digital success story in Southeast Asia.
