As both nations are updating the death toll (over 40 combined fatalities from both Thailand and Cambodia), injuries and displaced people (over 300,000 displaced) as a result of the 5-day undeclared war, this writer would like to add that there are also economic costs, affecting trade and the overall economies of both nations, and more.
On the Thai side, the Prachachat Business newspaper, a sister daily of Khaosod English) reported on August 2, 2025, that the losses to the Thai economy have already reached 17 billion baht (and counting). It also stated, Thai exporters “fear that Chinese goods will replace Thai goods in the [Cambodian] market.”
In my opinion, there’s no need to fear—it will definitely happen, whether it’s Chinese or Vietnamese goods. This is the result of insufficient self-restraint and fanatical ultranationalism. The Siam Rath newspaper had a headline on the same day that read, “Halt it now! The Thai-Cambodian border conflict. The longer it drags on, the more damage is done! Economic damage will exceed 100 billion baht.”
The economic impact is widespread, affecting various Thai consumer goods exported to Cambodia, not just border trade. It has also impacted tourism between the two countries. Regarding Cambodia’s tourism, before the conflict, Thailand constituted Cambodia’s largest group of foreign tourists. In the first 8 months of last year (2024), 1.3 million Thais visited Cambodia. Vietnam, China, Laos, and the US were the next largest groups, in that order.
There’s also an impact on the estimated 500,000 Cambodian migrant workers in Thailand, tens of thousands of whom have already decided to return home. There’s no guarantee that everyone will find new jobs in Cambodia soon, while Thai employers are struggling to find new workers to replace them. Overall tourism is affected as well; most recently, the Khaosod English just reported that tourism on Koh Chang has dropped by 90%.
However, another price that both countries have paid, and will continue to pay, is the hatred and distrust between millions of Thai and Cambodian people. It will likely take at least a decade, or maybe even longer, to heal and return to a near-normal state, like it was before the clashes on May 28 and the subsequent undeclared 5-day war.
This widespread mutul animosity and hatred is a long-term cost that is difficult to fix. It requires time, patience, and self-restraint from incitement or spreading fake news and content that is demeaning and insulting to one another.
It can be said that not only the governments but also the people of both nations have a trust deficit. Not only that they don’t believe that the opposing nation and its people are speaking and sharing what is true and sincere; in fact, they believe the others (be it Thais or Cambodians) are outright lying and insincere.
______
