From 1989 to 1992, the town was a regional centre in Issyk-Kul and Naryn Provinces and named as Issyk-Kul, then in 1993, it is renamed as Balykchy. Balykchy town is an important hub in Issyk-Kul Province of Kyrgyzstan. The name of the town is translated as “fisherman” from the Russian word “ribachye”. In 2009 the population of the town was 42900 people including the fact that Kyrgyz people made up 90%.
In summers water is warmed up to 22-25°C, as well as in winters it isn't frozen. In the town, the average annual precipitation is about 120 mm, as well as evaporation, is about 1050 mm.
The town is located in the north-western shore of Issyk-Kul Lake, 175 km far from the south-east of Bishkek. The distance between the town and Issyk-Kul International Airport located in Tamchy village take 40 kilometres. Car tracks from the town are directed to Bishkek, Karakol, Naryn and Kyrgyz-Chinese border “Torugart”. The highway of Balykchy-Jalal-Abad and railway station "Rybachye" which will be the final stop of Bishkek-Balykchy railway are under construction.