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Wednesday, March 26, 2025
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Luang Prabang Economy Sees Steady Growth, Surpassing GDP Targets

This Week

Luang Prabang has experienced steady economic growth over the past five years, with an average annual growth rate of 6.9 percent. 

The province’s gross domestic product (GDP) reached LAK 3,989 billion (around USD 183 million), surpassing the initial target of LAK 931 billion (about USD 42 million), according to Saveuy Silavanh, Standing Party Member and Deputy Mayor of Luang Prabang district during the 8th Congress of the Luang Prabang Party Committee on 24 March.

This economic growth translates to an average annual income of LAK 39 million (approximately USD 1,897) per person.

One of the most significant contributors to Luang Prabang’s economic success is its thriving tourism sector, Saveuy noted.

In 2024, the province welcomed over 2.3 million visitors, surpassing the initial target of 900,000. According to the Luang Prabang Department of Information, Culture, and Tourism, the UNESCO Heritage Town hosted 1,532,394 foreign visitors last year.

To support the continued expansion of tourism, Saveuy said that the authorities have focused on upgrading infrastructure, including building concrete roads to villages and improving access routes to popular attractions. 

Additionally, tourism-related facilities have expanded rapidly, while major infrastructure projects such as the Lao-China Railway and Luang Prabang International Airport continue to undergo upgrades.

Beyond tourism, Luang Prabang has made progress in human resource development, public healthcare, rural development, and poverty alleviation. As a result of these efforts, the government officially recognized the province as a “comprehensively strong city” and a “poverty-free city” in February.

Investment has also played a crucial role in the province’s economic development. Currently, there are 72 investment projects in Luang Prabang, with a combined value exceeding USD 174 million. Of these, 53 domestic projects account for more than USD 140 million, while 19 foreign investment projects contribute over USD 33 million.

With continued efforts to improve infrastructure and attract investment, Luang Prabang is poised for sustained economic and tourism growth in the coming years.

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