Kickboxer 2 is better than Kickboxer, the 1989 Jean-Claude Van Damme vehicle that spawned it. But you have to realize this is a relative judgment, since that first movie... is widely regarded as a cinematic disgrace.
Kickboxer 2 is laughable fun. It's got cheesy 80's style motivational music (you know the kind that worked for Rocky), over-the-top action sequences and cardboard thin performances - but all in all it's still a good boys boast.
Kickboxer 2 explores much the same territory as its predecessor, although this time there's no Jean-Claude Van Damme, who by the time this sequel was made had moved on to bigger (though not necessarily better) things.