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has been cited by the following article:

• TITLE: Economic Impact of Tourism in Mongolia

  AUTHORS: Sereeter Erdenetuul, Damba Gantumur, Myagmarsuren Odonchimeg, Ulaankhuu Khishigdalai, Nergui Ariunjargal

  KEYWORDS: Tourism Income and Expenditure, Direct and Indirect Effects, Return on Investment, Herder Households

  JOURNAL NAME: Open Journal of Business and Management, Vol.12 No.3, May 31, 2024

  ABSTRACT: The natural and cultural resources of Mongolia play a crucial role in attracting foreign tourists to the country. The impact that tourism expenditure has on the economy is dependent on the total number of domestic and foreign tourists, as well as the spending behavior of each tourist. The purpose of this study is to evaluate the economic impact of tourism at both macro and micro levels, as well as to diversify an economy that currently relies heavily on mining. Based on the main results of the questionnaire survey, it was found that 29.2% of foreign tourists visited Mongolia for leisure and spent between 3000 - 5000 US dollars. On the other hand, domestic travelers usually travel for 4 - 6 days and spend more than 1 million MNT. When assessing the economic impact of tourism through a survey of domestic and foreign tourists, over 70% of the respondents agreed that it would increase employment, create new investment opportunities, and support the local economy.