Tourism, which has grown significantly in the Siem Reap-Angkor region, has had significant impacts on the livelihoods of local residents. This paper presents an overview of the Tourism Value Chain (TVC) in the region and examines the involvement of local residents in local TVC components. A qualitative approach, incorporating observations and semi-structured interviews with 25 local residents, was applied in this study. Secondary data were collected from the Siem Reap provincial tourism department and the Cambodian Ministry of Tourism. The results revealed that, although tourism has provided jobs and business opportunities to locals, their earnings have been consistently low. It is difficult for the poor to access tourism jobs and start tourism related businesses because of lack of financial resources, lack of small business knowledge, inability to use foreign languages and low education levels. Lack of knowledge to diversify products, of information about market needs and of capital to purchase production tools, machinery and raw materials are the main constraints facing local artisans to improve their livelihoods. Poor soil fertility, small agricultural landholdings, low agricultural technological know-how, poor extension services, inability to compete with imported products and limited connections between the tourism sector and local peasants also prevent the poor farmers from gaining economic benefits from tourism.