Property Investor information: Mongolia
TPI
Rating:
10
9
8
7
6
5
4
3
2
1
nc
Property Investor information for: Mongolia
Mongolia is a far-flung, little visited destination, with much to offer in terms of scenery, wildlife, and historic and cultural sites. Outside the main cities, Mongolians continue to live the traditional life of malchin (herdsmen), and many are nomadic.
The capital, Ulaanbaatar, is the country’s political, commercial and cultural center. There are a number of museums in the city, the largest being the Museum of Natural History. The palaeontological section has a magnificent display of the skeletons of giant dinosaurs. Others include the Zanabazar Museum of Fine Arts, the National Museum of Mongolian History and the Military Museum. There are also several Buddhist temple museums, and the still-functioning Gandan Monastery is worth a visit. Ulaanbaatar also has several theaters and theater groups, such as the State Opera and Ballet Theater, the State Drama Theater and the Folk Song and Dance Ensemble. The Ulaanbaatar State Public Library has a unique collection of 11th-century Sanskrit manuscripts.
The Mongols gained fame in the 13th century when under Chinggis KHAN they conquered a huge Eurasian empire. After his death the empire was divided into several powerful Mongol states, but these broke apart in the 14th century. The Mongols eventually retired to their original steppe homelands and later came under Chinese rule. Mongolia won its independence in 1921 with Soviet backing. A Communist regime was installed in 1924. The ex-Communist Mongolian People's Revolutionary Party (MPRP) won elections in 1990 and 1992, but was defeated by the Democratic Union Coalition (DUC) in the 1996 parliamentary election. Since then, parliamentary elections returned the MPRP overwhelmingly to power in 2000 and produced a coalition government in 2004.
Mongolia is currently not recommended by The Property Investor Magazine for foreign Property Investment due to this countries political and or economic situation.