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Cambodia more to lose? Analysts acknowledged the negative economic impact that the tensions might have on Thailand, but are in agreement on Cambodia's weaker position.

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Thailand-Cambodia border clashes: Cambodia's economy has more to lose, analysts say By Lim Hui Jie, CNBC • Published July 25, 2025 • Updated on July 25, 2025 at 12:44 am ...

Analysts note, however, that Thailand's tourism spots are far from the border clashes. Cambodia's tourism industry, being less established than Thailand's, may suffer more, they said.