Phnom Penh bars feel the pinch
Alcohol is often recession-proof, but Phnom Penh’s bars are starting to feel the pinch from the global economic crisis, the Phnom Penh Post reported. Riverside Bistro Manager, Christina Grosse, said they had noticed a “sharp decline” since February compared with last year.
“It was almost a 50% decline,” she was reported saying, adding that average spending had dropped as people tightened purse strings.
Cadillac Bar and Grill and Reggae Bar and Cafe owner, Kenny Friedman, said it was the start of the slow season and a decline was expected. “What is more of a threat is the trouble in Thailand,” he said, adding that he hoped tourists would start travelling through other hubs such as Singapore.