Olkhon (, also transliterated as Olchon; , Oikhon) is the third-largest lake island in the world. It is by far the largest island in Lake Baikal in eastern Siberia, with an area of . Structurally, it constitutes the southwestern margin of the Academician Ridge. The island measures in length and in width. There are two versions regarding the origin of the name of the island and both are derived from the language of the Buryats, the indigenous people of Olkhon. The first is that the island's name comes from the word oyhon – “woody”, and the second is that it comes from olhan – “dry”. It is still debated which of the two is the actual origin of the name Olkhon as both words describe the island perfectly. Much of the island is still covered by forests and the amount of precipitation is extremely low – about per year. Geography Olkhon has a dramatic combination of terrain and is rich in archaeological landmarks. Steep mountains line its eastern shore, and at above sea level, Mount Zhima is the highest point on the island, peaking at above the water level of Lake Baikal. The island is large enough to have its own lakes, and features a combination of taiga, steppe and even a small desert. A deep strait separates the island from the land. The island's appearance is a result of millions of years of tectonic movement resulting in the hollowing of the channel between the land (Maloe More Sound and Olkhon Gate Strait) and the block of stone forming the island. The steep slopes of the mountains show the vertical heave of the earth. Population The population of the island is less than 1,744 and consists mostly of Buryats, the island's aboriginal people. There are several settlements and five villages on the island: Yalga, Malomorets, Khuzhir, Kharantsy, and Ulan-Khushin. The village of Khuzhir is the administrative capital of Olkhon, designated as such in April 1987 when the Soviet government issued a comprehensive decree protecting Lake Baikal. Khuzhir is home to about 1,200 residents and boasts a museum of local nature and history. Economy Most residents are fishermen, farmers, or cattle-ranchers. Due to an increasing number of tourists from all over the world, many residents work in this sector as well, and tourism has become an important part of the economy in Olkhon. Culture The indigenous Buryats, adherents of shamanism, believe