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, and 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.
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