One of the fastest growing career platforms in Cambodia has released their annual report, which contains a clear overview of the Cambodian Job Market of 2015. The report comes in the form of an infographic, which has collated the information and data that was collected from Everjob’s online job market platform.
According to the infographic, there were 36 commercial banks, 7 specialist banks and 44 registered MFI’s and more branches for different banks that have opened across the country in 2015. This goes to show that the banking sector has also been thriving over the last year and the country’s developments has affected the online job market as well, with the number one job position needing to be filled being in the banking industry under Accounting and Financing.
With tourism being the key driver of Cambodia’s economic growth for over the past decade, it is of no surprise that the hotel and lodging industry – the largest after the garment industry – has also seen a steady growth over the past year resulting in it being the number one hiring industry according to the career report. Other important players in the hiring scene also include Information Technology (IT) and Food/Beverage.
The publication of the career report coincides with formal establishment of the ASEAN economic community (AEC), which envisages a single market and a competitive economic region. The pillar of free flow of labor encompasses eight sectors, two of which are well represented in the Cambodian labor market; Tourism and Accounting. This is a positive sign for both the Cambodian economy and for the Cambodian integration in the ASEAN Community. However, the AEC also brings about a larger market in which businesses and economies in general, will become more competitive. To cope with this, ASEAN economies will need to become more innovative and efficient. “In order to stay competitive in a more regional labor market,” Anne Rose Dingemans, Managing Director at Everjobs Cambodia, says, “the rest of the sectors, among which more technical jobs in IT, architecture and engineering, need to be further developed in the Kingdom”. She continues: “This is true for the ASEAN community as it is true for the domestic Cambodian labor market.”
Online labor trends are well reflected in the current economic climate of Cambodia and the Cambodian labour market fits in well with its neighbours in the AEC. However, it still needs to develop its skill set to be able to meet the demand of companies on the domestic level and to be able to stay competitive in the regional, ASEAN theatre. Updating university curriculums and promoting less popular and more technical degrees such as engineering medicine or science will be beneficial for the development and the differentiation of the Cambodian labour force in the region.
View the infographic below to find out more!
Career Report of Online Job Market 2015 – Infographic courtesy of Everjobs