The objective of this chapter is to deliver an update of contemporary tourism in Cambodia, its development and management, with particular reference to initiatives toward sustainable and community-based tourism (CBT). The chapter opens with a narrative relating a historical account of tourism in Cambodia pre-2000. Attention is then focused on contemporary tourism, post-2000, specifically the economic performance of tourism, the governance and planning of tourism, cultural and sustainability initiatives, heritage and tourism, tourism resources, infrastructure and marketing strategies. The second part of the chapter turns its attention to the Royal Cambodian Government’s strategy to promote rural- and community-based tourism for the purposes of regional development and poverty alleviation. The chapter concludes by discussing the current precarious balance between rapid tourism development and sustainable positive benefits for Cambodia, the land and its people. This update serves as a valuable insight into the twenty-first-century complexities of tourism development and management in a Southeast Asian emerging economy.