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Living and Investing in Mongolia

Got this email titled "Investing and Living in Mongolia" from a reader. Good questions here -

Hi Sebastian,

I enjoy your blog. I saw that you recently moved to Mongolia. I am curious what made you move to Mongolia (i.e. curiosity to explore vs. a new job)? What is it like there for foreigners? Is it a suitable environment for investing capital? Do you feel safe?

Mongolia is an extremely promising country from the outside, yet nothing beats the perspective of someone who is there on the inside (even though you have not been there a very long time).

All the best,

The First Time Traveler's Guide to East Asia

Making your first trip to East or Southeast Asia? Wondering where to go?

Okay, I've spent significant time in Japan, South Korea, Taiwan, Hong Kong, China, Vietnam, Cambodia, Thailand, Malaysia, and Singapore. I can weigh in on those places for you. I haven't been to Macau, Laos, Burma, the Philippines, North Korea, or Indonesia yet - of them, I've heard great things about the Philippines and Indonesia in particular, but I can't comment.

So, some thoughts about every country -

Japan - Still the crown jewel of Asia, Japan has something for everyone. There's ancient and hyper-modern culture mixed all together. There's amazing technology, high levels of development, basically nonexistent crime, ridiculously high standards of quality and hygiene, and the people are friendly and polite. English isn't widely spoken, but the Japanese take being good hosts seriously and you'll be fine in any major city. You can find quite literally anything here - amazing camping and mountains and forests and oceans, or hyper-developed space-age districts in cities.

The downside of Japan - It's fucking expensive. Like, really really expensive. I hate spending money on eating and sleeping - every dollar I put into basic "staying alive" stuff is less money to be invested in commerce or philanthropy, or learning, or having unique experiences that are more interesting than... well, eating and sleeping. Yet, eating and sleeping is brutally expensive here. If you're not a veteran traveler and don't have friends here, you'll be hard pressed to spend less than $100/day in Japan. If you slum it hard, you can maybe get down to $50/day. Everything's ridiculously expensive, ranging from 400% to 2,000% higher than still-developing countries in Asia.

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