Well-educated citizens today are the key foundation for any country’s well-being and whole development. Mongolia has a relatively higher literacy rate around 97% than other developing countries in the region.
Mongolia, once a place whose very name conjured up images of isolation and deprivation has become one of the hottest new frontier market destinations for international and luxury brands in recent years, particularly those catering to higher income clients.
Landlocked in Central Asia, Mongolia sits at a geopolitical crossroads. With Russia to north and China to the south, it must find a way to take advantage of its resource wealth and strategic location without sacrificing economic independence to its bigger neighbours.
Standard & Poor’s upgraded their rating for Mongolian sovereign debt from ‘B-’ to ‘B’ with a stable outlook. The news echoes wider confidence that IMF-led reforms and stronger commodity prices have put government finances back on an even keel. S&P is the third ratings agency this year to upgrade their Mongolia outlook, behind Moody’s and Fitch.
The Asian Development Bank (ADB) has revised their projected growth statistics for Mongolia in 2018 and 2019. The forecast for this year was raised to 6.4%, significantly higher than the previous estimate of 3.8%. This momentum is expected to continue into 2019, with the ADB upping their forecast from 4.3% to 6.1%. The announcement underscores growing investor confidence in the country, and echoes a wider consensus that an economic rebound is firmly underway.
Finding the right city to invest in is the key. Do not restrict yourself to the area in which you live in.
International property investments are being considered as an additional investment product for many investors around the world.
Mongolia's GDP has swung from 2011's 17% growth to a mere 1.6% in 2016, back up to a 5% or more growth that exceeds that of saturated economies in the developed world. We'll walk through the country's GDP situation, and touch briefly on the commodity export market in the US.
Mongolia’s financial sector grew from a centrally planned, Soviet-style single bank system to its present composition of fourteen commercial banks, seventeen licensed insurance related companies, 62 stock & brokerage related institutions, 518 Non-Banking Financial institutions (NBFIs), and about 280 Savings and Credit Co-operatives (SCCs). All banks are under supervision by Bank of Mongolia (“BoM”) the country’s central bank, while all NBFIs, SCCs and brokerage and insurance companies report to FRC.
Mongolian Properties is the oldest, largest, and most reputable Mongolian real estate agent. We are a real estate intermedeiary and advisory firm offering agency, representation, property, management, property valuations, interior design, furnishing and financial intermediation services.