PHNOM PENH: The Cambodian government is set to introduce a "special tourist policy" to boost the ailing travel industry by attracting long-staying tourists, repeat visitors, high spenders, potential investors and others.
With the hope that these visitors will become involved in socio-economic development, Cambodia's Tourism Ministry has been working on drafting the policy with the feedback gained from public and private institutions in the country.
According to the Phnom Penh Post, Ministry secretary of state Tith Chantha said during a recent workshop that while a typical traveller spends an average of US$700-800 per trip to Cambodia, the "special tourist" described in the policy spends about US$2,000-3,000.
The ministry said in a statement that these tourists also visited the country more often and stayed longer, with a majority of them having businesses or jobs in the country.
Chantha said discussions are ongoing on the rights and conditions for tourists, who are investors or traders, to buy land to build lodgings.
"If tourists do obtain the rights to buy land to build lodging, it should only be allowed in the main tourism areas or in sacred tourism destinations such as Siem Reap, the coast, the northeast, but not in border areas," Chantha said.
He said the policy aims to turn ecotourism into a more attractive investment option, and the ministry was working on mechanisms to attract more tourists in the future.
Speaking to The Post, Thourn Sinan, chairman of IMCT Co Ltd and Pacific Asia Travel Association Cambodia chapter (PATACC), agreed that the government should consider allowing investors to buy homes.
He said this was also done in other countries, as long as the correct terms and conditions were in place.
He added that the policy was appropriate for the time, beneficial and will not only attract longer stays, but also bring in more travellers who may become investors.
Meanwhile in another development, the Pattaya Mail reports that the 10-year visas for Thailand and Cambodia have sparked considerable debate about the similarities.
Cambodia had launched the Cambodian My Second Home (CM2H) programme last month and it is seen as being similar to Thailand's attempt to also attract long term visitors.
Thailand and Cambodia are both keen to attract rich executives, experts, entrepreneurs, the idle-rich and even retirees provided they are willing to invest in the countries.
The Thai rules for a Long Term Visa (LTR) vary according to category, but the minimum investment is about US$1 million.
The LTR scheme is headed by Thailand's Board of Investment while the Cambodian programme is run by the Khmer Home Charity Association and marketed by the Hong Kong-based GC Property with newly-opened offices in Phnom Penh.
The CM2H specifically mentions a cash investment of US$100,000 but there are hefty registration charges.
According to the Mail, the biggest difference is that Cambodia's CM2H is specifically linked to property purchase, whereas Thailand's LTR allowed other kinds of investment.
The report said it appears that applicants for the programme were required to invest in a specific housing project of that company.
The Thai scheme promises foreigners freehold ownership of one rai of land and a residential house, but there are no details yet.
The LTR requires a minimum of US$50,000 medical insurance to qualify, while CM2H allows free participation in the government's health regulations.
The Mail said both schemes make provision for automatic or digital work permits, although in Cambodia, the Khmer Home Charity will liaise with the immigration on behalf of the applicant.
There is also a possibility that Cambodian citizenship may be granted after five years. Both countries offer income tax reductions, allow family members to be included in the visa and provision for VIP treatment at airports.
The search for wealthy foreigners is not new in either country as then prime minister Thaksin Shinawatra had introduced the Elite visa in 2003, which offered five-to-20-year multiple entry and exit.
In 2018, the four-year hi-tech Smart visa did away with the traditional work permit for holders. The Smart visa was designed to attract highly skilled manpower, investors, executives and start-ups entrepreneurs wishing to work or invest in several targeted industries in Thailand.
The Mail said that although neither scheme was yet operational, the most likely candidates for CM2H appeared to be influential Chinese investors and business people requiring an overseas base.
In Thailand, it is not yet clear if the LTR can attract applications from foreigners who choose to reject the much-cheaper Elite visa alternative already in place.