Cambodia has experienced drastic change since the signing of the Paris Peace Accords in 1991. Twenty-five years later, Cambodia is a lower middle income country with consistently high GDP growth rates with concomitant improvements in human security as measured by the HDI. The question that Cambodia confronts today is a seemingly simple but in fact a remarkably complex one: Whither Cambodia? From housing to industrialization to agriculture, how are the diverse sectors of Cambodian society and the Cambodian economy likely to develop over the next two decades? As a relatively small country in a region of growing, global geopolitical and economic importance – how will Cambodia respond to various global trends (e.g., the continued rise of China, climate change, digitalization, etc)? Will Cambodia in 2040 be a middle income state with growing prosperity or will it have stagnated at its current lower middle income level or indeed dropped back to the status of a low income state?