A stroll through the local market these days tells you everything you need to know. Shopkeepers running general goods stalls are shaking their heads, complaining that business gets worse by the day and you barely see a new face all morning.

Yet, oddly enough, amid all the slow-moving stock, suitcases are flying off the shelves—one of the few items actually moving in volume.

According to the vendors, quite a few foreigners have been packing up and leaving Cambodia lately. The streets are looking sparse, nobody has extra cash to throw around, and suddenly luggage has become essential. Every day, people are stopping by to check prices and haul away new bags.

Sitting by a tea stall, watching the motorbikes kick up exhaust clouds at the corner, you realize the local small-business owners are just scraping by. Watching wave after wave of people roll their suitcases toward the exit, the luggage sellers know better than anyone just how cold the market really is.