One important factor not mentioned is that the local currency, the Lao kip, has had a really rough ride this year, losing almost half its value in USD terms. I

One important factor not mentioned is that the local currency, the Lao kip, has had a really rough ride this year, losing almost half its value in USD terms. I was in Laos earlier this year and hotels, travel agencies, even larger restaurants were requiring payment in USD. Of course, one major reason for the kip's weakness is that Laos is now heavily indebted to China and unlikely to be able to repay its loans. The local economy has taken a major hit from China being closed, with lots of abandoned construction sites and shut-down hotels in the capital Vientiane.