Market Research in Mongolia

Mongolia is in East Asia, bordered by Russia and China.

The nation is most famous for the Siberian Ibex. It’s also home to a vast range of fish and birds. Here’s another interesting fact about Mongolia. It has the sparsest population in the world.

Mongolia’s capital started as a large gear camp, and it changed its location at least 25 times. It began operation at its current location in the year 1778. The name of this city is Ulaanbaatar.

Over time travelers started overcrowding Ulaanbaatar. Around 1.3 million people call it home. This number is staggering, and it represents half of the country’s entire population. This figure puts the vastness of Mongolia into perspective.

Tourism

Mongolia has one of the largest outdoor markets in Asia. Everyone calls it the ‘Black Market,’ though it does not sell anything illegal.

Khustain Nuruu National park is a few hours from Ulaanbaatar. This park is one of the few places to see the Przewalski wild horses, and it is very famous for them. Mongolia is one of three countries that you can find these horses. The park covers an impressive 500 square kilometers of extraordinary natural features.

In 2002 UNESCO certified the park as a member of the World Biosphere Reserve Network of Research. Ancient burial grounds dot the park, and the stones date back thousands of years. It serves as a reminder of very different times.

Mongolian Culture

Mongolia has a strong connection with the traditional herding culture. This connection is most evident in rural areas. Even as Mongolia tries to modernize, the people still practice the ancient traditions. You can even buy an apartment using livestock instead of cash.

Ulaanbaatar is a city where luxury and poverty collide. This urban center is changing so fast that it might be unrecognizable in the next five to seven years. These changes will benefit the whole of Ulaanbaatar. Yet, they are unlikely to affect the Mongolian culture.

The architecture of the capital is spectacular in its diversity. The temples lie between old communist buildings and skyscrapers. It is a country of contrast that has gone through a significant shift. People have moved in by the thousands, and heavy industry has remade the culture.

Minerals and Mining

Mongolia has gotten the nickname “Mine-Golia.” As the name suggests, the country has a strong mining industry. Coal, copper, and other reserves abound beneath its soil. Much of the demand comes from neighboring China.

Mining attracted foreign investors, and the luxury market started to take off. Then came a bust as China’s growth tapered and commodity prices collapsed. Things are starting to look promising again as new mining projects are beginning to open.

Livestock farming has recently seen rapid growth, with the sector producing milk and meat from goats, sheep, cattle, and camels. Mongolia also produces food crops like potatoes and cereal. But, crop production lags far behind that of livestock. Vegetable production is at near-stagnation levels.

There has been a growing sector for infrastructures like transportation and road-building. Mongolia does not have a seaport, so it depends on its roads and railways for transportation.

Challenges

Ulaanbaatar has become the third most polluted city in the world. Its rapid population growth and the dependence on coal are to blame.

The districts cause the coal pollution problem. The locals burn coals to heat their homes as the temperature drops during winter. The government Is battling this severe issue, but at this point, it’s no use.

Market Research in Mongolia

SIS International Research conducts Qualitative, Quantitative, and Strategy Research in Mongolia. Methods include Interviews, Focus Groups, and Online Surveys. Contact us now for a consultation on how to build a successful business in Mongolia.