Innovation, FDI, population, energy utilisation and growth in revolution 5.0: New insights from Cambodia

This paper uses Cambodia as a focused case study to investigate the interconnected dynamics between Foreign Direct Investment (FDI), population trends, energy consumption, and GDP within the emerging framework of Revolution 5.0. By integrating the lens of open innovation and digital transformation, this research offers new empirical insights into how these factors collectively shape economic performance in a digitally evolving, lower-middle-income country. Cambodia presents a compelling case due to its rapid economic transition, increasing openness to international investment, youthful population, and rising energy demand—all within a limited but growing technological infrastructure. While prior studies often treat these variables in isolation or within high-income economies, this paper contributes to the literature by addressing the integrated impacts of Revolution 5.0 in a frontier market setting. Using quantitative and conceptual analysis, the study underscores the importance of coordinated policy responses to leverage digital innovation, sustainable energy use, and demographic capital for long-term inclusive growth. The findings offer practical implications for developing countries aspiring to integrate into the global digital economy. • Factors affecting economic growth in Cambodia. • The paper uses the REM methods. • The data was collected at the Word Bank from 2000 to 2022.