ENHANCING TOURISM REVENUE AND FOREIGN INVESTOR CONFIDENCE IN MONGOLIA: STRATEGIES AND DEVELOPMENTAL CONTRIBUTIONS
DOI:
https://doi.org/10.18623/rvd.v23.n2.4476Keywords:
Tourism, Revenue, Reforms, Environment, Economic StabilityAbstract
This paper aims to elucidate comprehensive strategies for Mongolia to amplify its tourism revenue and the research emphasizes understanding traveller perceptions through destination image analysis, including both cognitive and emotional aspects, to better meet international expectations, enhance satisfaction, and encourage repeat visits. Mongolia’s cultural treasures, including five UNESCO World Heritage Sites, its historical landmarks, and the appeal of its landscapes and nomadic culture, present significant development potential. However, unlocking this potential requires continued reforms and infrastructural investments to improve accessibility and service quality within the tourism industry. The resilience of domestic tourism, despite global setbacks, offers opportunities for broader recovery and growth. By utilizing targeted policies based on comprehensive data and strategic branding, Mongolia can position itself as a premier global tourism destination and create an attractive environment for foreign investment. These strategies aim to foster sustainable economic growth, promote cultural preservation, and strengthen Mongolia’s international tourism profile. Ultimately, this holistic approach will support the nation’s economic stability, diversification, and long-term development. By capitalizing on its unique assets and addressing current challenges, and the findings suggest Mongolia can unlock its full potential as a premier global tourism destination, concurrently fostering a robust and attractive environment for foreign investment. This comprehensive approach will not only enhance the visitor experience but also contribute to sustainable economic growth and cultural preservation, solidifying Mongolia's position on the international stage.
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