The tourism industry has taken on an increasingly central role in Mongolia in recent years. In 2013 the country saw more than 415,000 incoming visitors and reported market turnover of $263m, which represented about 4% of GDP at the end of the year. These moves are in line with the government’s ambitious short-term and medium-term objectives, which include increasing international arrivals to...
Mongolia Tourism
Given the significant foreign direct investment needed to achieve its development goals, Mongolia has strong motivation to improve its attractiveness to investors. The government is therefore adjusting its policies, while new laws are expected to gradually reinvigorate foreign investment flows.
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Given the significant foreign direct investment needed to achieve its development goals, Mongolia has strong motivation to improve its attractiveness to investors. The government is therefore adjusting its policies, while new laws are expected to gradually reinvigorate foreign investment flows.
Visitor arrivals have jumped substantially in recent years, topping 475,000 in 2012, up 3.4% from the previous year and from less than 150,000 in 2000. As of mid-2013 the government has been working with the private sector to overhaul the country’s tourism regulatory regime and development strategy. In March 2013 the minister of culture, sports and tourism announced that the government had...
Since the country’s transition from communism two decades ago, the Mongolian economy has experienced rapid liberalisation. Sectors including ICT and insurance are expanding quickly and, while the mining sector has been responsible for making Mongolia a rising star in the global economy, there is great potential for further growth in all economic sectors.
While a significant nomadic population still pushes its herds across the steppe, young adults in Ulaanbaatar use fibre-optic networks to access the internet. Heir to the legacy of Chinggis Khan, Mongolia is fast emerging as a land rich with economic potential – a country that is seeking growth while also working to preserve its unique national culture.
Endowed with isolated, unspoilt nature and nomadic Buddhist culture, Mongolia has managed to develop a small but potentially profitable tourism sector that is expanding through support from the government and a focus on the adventure and nature segments. The country’s main sources of genuine leisure tourism over the past decade have been more affluent countries, including Japan, South Korea,...
Mongolia’s tourism industry has blossomed under a laissez-faire regime that allows private ownership and operation of facilities and tour companies. Leisure tourists, who number approximately 90,000 annually, visit the Central Asian countries for its unspoiled natural beauty and unique cultural attractions. Traditional tourists make up only a small fraction of those who visit Mongolia every year...