Cambodia EWA pool: up to about 4.6 million wage earners; account ownership at 39.0%
Key points
- Wage and salaried workers were 44.5% of employment in 2025 (ILO modelled estimate)
- Applied to a labour force of about 10.37 million, this gives an upper-bound estimate of about 4.6 million, including the unemployed
- Account ownership was 39.0% in 2024; the share paid into accounts is unverified in primary data
Facts
World Bank data based on ILO modelled estimates put Cambodia's labour force at about 10.37 million in 2025 (about 10.2 million in 2024) 1 and wage and salaried workers at 44.5% of total employment (44.2% in 2024) 2. Multiplying the two gives about 4.6 million. Because the labour force includes the unemployed, this is an approximate upper bound on the number of wage earners (T&S calculation) 3.
The World Bank Global Findex puts adult account ownership (financial institution or mobile money) at 39.0% in 2024, up from 33.4% in 2021 4. The share of people receiving wages into an account could not be confirmed in primary sources (unverified).
On the credit side, the NBC semi-annual report (published 28 July 2026, reported by Xinhua) counts 4.7 million loan accounts and 39.6 million deposit accounts at end-June 2026. CBC counted 5.13 million borrowers at end-2025 (Cambodianess). CMA's annual report puts microfinance borrowers at 1.53 million in 2025, 61% of them women.
Analysis
Account ownership rose from 3.7% in 2011 to 39.0% in 2024, but most adults still lack an account. Deposit accounts (39.6 million) far outnumber adults, which suggests accounts are concentrated among people who already bank.
Payroll-linked unsecured lending and EWA (earned wage access) target wage earners whose employer payroll data are available and who are paid into an account. Removing day labourers and others without payroll records from the upper bound of about 4.6 million, and applying the payroll-deposit share, shrinks the addressable population further. CBC's count of 5.13 million borrowers also suggests that many wage earners may already carry some debt; the degree of overlap is unconfirmed.
| 2011 | 3.7 |
|---|---|
| 2014 | 22.2 |
| 2017 | 21.7 |
| 2021 | 33.4 |
| 2024 | 39 |
Share of adults (age 15+) with an account at a financial institution or mobile-money provider · Source: World Bank Global Findex (WDI indicator FX.OWN.TOTL.ZS)
Implications
Counterpoints and uncertainties
Labour force and wage-share figures are ILO modelled estimates, not national labour-force survey measurements. Account ownership covers all adults, not only workers. With the payroll-deposit share unconfirmed, the population estimate has a wide range. The large return of migrant workers in late 2025 (reported at more than 900,000) may have changed the domestic labour force and wage-worker mix beyond the estimates.
Figures: see definitions
- Labour force: about 10.37 million (about 10.2 million in 2024). ILO modelled estimate (includes the unemployed). Labour force. Basis date: 31 Dec 2025. Source: World Bank WDI (ILO modelled estimate): labor force, total (SL.TLF.TOTL.IN), Cambodia
- Wage and salaried workers (% of employment): 44.5% (44.2% in 2024). ILO modelled estimate. Total employment. Basis date: 31 Dec 2025. Source: World Bank WDI (ILO modelled estimate): wage and salaried workers (SL.EMP.WORK.ZS), Cambodia
- Upper-bound estimate of wage earners: about 4.6 million. Labour force × wage-worker share. Labour force. Basis date: 31 Dec 2025. Source: T&S calculation from World Bank WDI (ILO modelled estimate): labor force, total (SL.TLF.TOTL.IN), Cambodia — labour force × wage share (SL.EMP.WORK.ZS)
Upper bound because the labour force includes the unemployed.
- Account ownership (adults): 39.0% (up from 33.4% in 2021). Share of adults (age 15+) with an account at a financial institution or mobile-money provider. Population age 15+. Basis date: 31 Dec 2024. Source: World Bank Global Findex: account ownership (FX.OWN.TOTL.ZS), Cambodia
Sources
- World Bank: Labor force, total – Cambodia（ILO推計）primary
- World Bank: Wage and salaried workers (% of total employment) – Cambodia（ILO推計）primary
- World Bank: Account ownership (% age 15+) – Cambodia（Global Findex）primary
- CMA: Cambodia's microfinance loan portfolio tops $6 billion in 2025（2026-07-07）
- Xinhua: Cambodia's banking sector as of June（2026-07-28、NBC半期報告）
- Cambodianess: Cambodia's $62 billion debt surge（2026-03-30、CBCデータ）
Reports are for information only and are not investment advice. Methodology: sources, verification and definitions