Sustainable Tourism Development Project (ADB-50013-002)

Countries
  • Mongolia
Where the impacts of the investment may be experienced.
Specific Location
Khuvsgul Aimag
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Government of Mongolia
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 38.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 38.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 10, 2017

Disclosed by Bank Nov 21, 2016


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Project Description
Mongolia has a small but growing tourism sector. In 2014, tourism comprised 3.2% of gross domestic product (GDP) (MNT695.0 billion) and 2.8% of total employment (33,500 jobs). Tourism is forecast to rise 5.7% per annum to MNT1,298.6 billion (2.6% of GDP) in 2025. International tourist arrivals were 408,000 in 2015 and are forecast to increase 5.2% per annum to 620,000 in 2025. Government efforts to expand tourism are centered on Mongolia's unique wilderness values and large network of protected areas, which cover 17.4% of the country. Tourism presents important opportunities for income and livelihood diversification, yet realizing such benefits is challenging. Lessons learned from protected areas indicate the need for well-planned tourism concessions, basic public infrastructure, and inclusive planning. In contrast, protected areas in Mongolia are typically under-funded and located in poor regions with limited infrastructure. Unmanaged tourism may threaten ecological and cultural values and provide few benefits to local people. National models are required to guide tourism development in Mongolia's protected areas, tailored especially to cold, fragile, and remote environments. IMPACT (i) Per capita income in Khuvsgul Aimag increased. (ii) Sustainability of tourism sector in Khuvsgul Aimag improved. OUTCOME Integrated and sustainable management of Khuvsgul Lake National Park (KLNP) achieved.
Investment Description
  • Asian Development Bank (ADB)
Contact Information
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