Tag Archives: Mongolia Economy

Tourism Sector Accounts for Nearly 4% of Mongolia’s GDP

Mar. 16 – Mongolia’s travel and tourism sector directly contributed around US$256.3 million to the country’s gross domestic product in 2011, accounting for almost 4 percent of the total. Furthermore, it is forecast to rise by 7.3 percent in 2012, according to the World Travel and Tourist Council’s (WTTC) recent report titled, “Travel and Tourism: Economic Impact. Mongolia.” The total contribution of the industry – direct, indirect and induced – is even larger and accounts for US$592.4 million, or 9 percent of Mongolia’s GDP, and is forecasted to rise by 6.4 percent in 2012. By comparison, the global average for

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