Mongolia’s tourism revenue exceeds $1 billion

Wednesday, December 20, 2023

Mongolia has earned $1 billion from tourism in 2023, the Ministry of Environment and Tourism said on Tuesday.

Mongolia welcomed more than 600,000 foreign tourists as of November.

The revenues from the tourism sector exceeded $1 billion, said the ministry in a statement.

This marks the first time that Mongolia has earned $1 billion in revenue from a sector other than mining.

Currently, Mongolia’s economy is primarily dependent on its export-oriented mining sector.

Developing tourism is seen as the most viable way to diversify its economy as the Mongolian government has taken measures to promote the development of tourism.

The country has also classified 2023-2025 as “Years to Visit Mongolia” to promote tourism. Secretary (East) Shri Saurabh Kumar paid an official visit to Mongolia from 12-14 September 2023.

During the visit, Secretary (East) held talks with State Secretary of Ministry of Foreign Affairs of Mongolia H.E. Mr. N. Ankhbayar. He called-on Minister of Education and Science H.E. Mr. L. Enkh-Amgalan and Minister and Chief Cabinet Secretary of Mongolia H.E. Mr. D. Amarbayasgalan.

He also paid visits to Gandan and Pethub monasteries as well as inspected the construction site of Oil Refinery Project in Dornogobi province, Mongolia.

During the visit, both sides discussed further strengthening of India-Mongolia Strategic Partnership and maintaining high-level engagements.

They exchanged views on cooperation in various sectors, including developmental partnership, education, IT, renewable energy, connectivity, culture, capacity building, hydro-carbons, mining, defence and security.

Discussions focused on Indian projects in Mongolia, including 1.5 mmtpa Oil Refinery Project, A.B. Vajpayee Centre of Excellence in IT, Communications and Outsourcing, and India-Mongolia Friendship School.

They also exchanged views on regional and international issues of mutual interest.

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