Over the past five years, Mongolia’s ICT industry has experienced rapid growth. As of the first half of 2013 the nation was home to more than 1m internet subscribers, up from fewer than 200,000 as of the end of 2010, for example. As in many other nascent technology markets around the world, the majority of this growth has taken place in the mobile segment. Almost 80% of...
While the overall number of internet users in Mongolia grew eight-fold from 2009 to mid-2014 – from just over 100,000 to more than 1m, according to the Communications Regulatory Commission of Mongolia (CRC), the nation’s telecommunications regulatory organisation – most locals spend their time online at foreign websites. As of mid-2014 Mongolian internet content was rare...
Rapid economic expansion in Mongolia over the past half-decade has played out across many of the country’s constitutive industries, and construction is no exception. According to the National Statistical Office (NSO), works carried out in 2014 totalled MNT2.2trn ($1.3bn), up 16.3% on 2013. Much of this growth took place in the residential segment, which has been the...
In 2014 Mongolia’s construction industry saw a major uptick in output. Driven in large part by the government’s ongoing residential housing development programmes, the sector grew by 16.3% over the course of the year, according to data from the National Statistical Office. One key challenge during this period of rapid expansion has been sourcing construction materials....
Despite a number of macroeconomic headwinds, in 2013 and 2014 Mongolia’s real estate market expanded substantially. This growth can be attributed to a range of forces, including government-led construction projects; a state-sponsored mortgage scheme; fast-growing demand for commercial retail space; and, more broadly, increasing urbanisation and rising incomes among the...
The need for transportation improvements in Mongolia is well recognised, and the government has focused resources and expended considerable political will on building roads and rail links, and in developing the new international airport. Where the authorities and Mongolia’s private sector have been lagging, however, is in the area of logistics. Connections are not...
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