Mongolia’s economy has experienced significant growth over the past 15 years, with per capita GDP increasing by 257% from $2,625 in 2010 to $6,751 in 2024. This places Mongolia among the top 20 countries globally for GDP per capita growth. The average annual increase in per capita GDP was $275, with Oyu Tolgoi contributing $527 annually, according to MMCG research. While this growth is linked to global commodity prices, the Oyu Tolgoi project played a crucial role, contributing 13.5% of Mongolia’s 17.3% GDP growth in 2011. Without Oyu Tolgoi’s investment, growth that year would have been only 3.8%. In 2011, Oyu Tolgoi accounted for $647 of the $1,111 increase in per capita GDP, reaching $3,736. However, domestic political divisions have hindered further progress.