Mongolia
Total report count: 3
Total report count: 3
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Mongolia is a peaceful country, but with high levels of corruption and fragile governance. The economic growth should accelerate in 2023, supported by the vast mining sector, but the country’s dependence on this sector leaves it vulnerable. Urbanisation is continuing, but economic development is unevenly distributed. The increasing pace of mobile subsriptions will form the engine for growth in the ICT sector in the medium term, but ICT innovation is lacking.
Asia Pacific remained the largest global producer of food, beverages and tobacco in 2021, with sales valued at USD3,809 billion. With the release of pent-up demand, the industry’s turnover witnessed an increase in 2021. Going forward, expanding domestic markets and rising productivity are expected to stimulate the industry’s growth. However, with tightening global food supplies amid climate change and geopolitical conflicts, challenges persist, especially for major regional food importers.
With a turnover of USD365.8 billion in 2021, Asia Pacific was the world’s second largest region for recreation, entertainment and arts. Over the next decade, the region’s entertainment industry is poised to grow at the fastest rate, nearly closing the gap with Western European turnover levels by 2030. Recovering tourism, growing investments and economic expansion are set to drive the entertainment industry’s growth in Asia Pacific, with China remaining in the lead.
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