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    Business and Economy

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    Usama Imran
    Tourism has a significant positive impact on economies worldwide. It contributes over 6% to global GDP and provides employment for 289 million people. Many countries rely heavily on tourism as a key industry. While tourism was slowed by COVID lockdowns, it is now on the rise again. Pakistan also has great potential for tourism given its natural beauty and cultural attractions. Developing its tourism industry further through improved infrastructure, marketing, and security could boost Pakistan's economy.

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    Business and Economy

    Uploaded by

    Usama Imran
    27 views3 pages
    Tourism has a significant positive impact on economies worldwide. It contributes over 6% to global GDP and provides employment for 289 million people. Many countries rely heavily on tourism as a key industry. While tourism was slowed by COVID lockdowns, it is now on the rise again. Pakistan also has great potential for tourism given its natural beauty and cultural attractions. Developing its tourism industry further through improved infrastructure, marketing, and security could boost Pakistan's economy.

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    BUSINESS AND ECONOMY

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    Tourism has a significant positive impact on economies worldwide. It contributes over 6% to global GDP and provides employment for 289 million people. Many countries rely heavily on tourism as a key industry. While tourism was slowed by COVID lockdowns, it is now on the rise again. Pakistan also has great potential for tourism given its natural beauty and cultural attractions. Developing its tourism industry further through improved infrastructure, marketing, and security could boost Pakistan's economy.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    27 views3 pages

    Business and Economy

    Uploaded by

    Usama Imran
    Tourism has a significant positive impact on economies worldwide. It contributes over 6% to global GDP and provides employment for 289 million people. Many countries rely heavily on tourism as a key industry. While tourism was slowed by COVID lockdowns, it is now on the rise again. Pakistan also has great potential for tourism given its natural beauty and cultural attractions. Developing its tourism industry further through improved infrastructure, marketing, and security could boost Pakistan's economy.

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    © All Rights Reserved
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    of 3

    BUSINESS

    AND ECONOMY
    “ IMPACT OF TOURISM ON LOCAL ECONOMY ”

    _The journey is the destination_

    The vast fields, swaying trees, tall mountains, crystal clear water, dew
    on the leaves, chattering birds, and vibrant flowers. Each of these
    organic patterns attracts people. One of the fastest growing industries
    in the world is travel and tourism. This has caused certain countries'
    economies to prosper and expand as a result. For instance, both
    employment and gross domestic product (GDP) have a lot of potential.
    Transit to the destination, local transportation, lodging, leisure,
    entertainment, shopping, and food are all possible components of
    tourism. It could be connected to vacationing, professional travel,
    family travel, or social travel.

    Let's examine some statistics from the WTTC (World Travel and Tourism
    Council) 2021 publications to understand how tourism impacts the
    economy. 289 million employment were available in the travel and
    tourism industry, which contributed 6.1 percent of global GDP. KSA is a
    notable case in point. They rely heavily on tourism for their main source
    of income. After COVID, this sector's expansion slowed down due to the
    lookdown, but tourism is presently on the rise.
    The impact of tourism on the world is demonstrated by the numbers
    below.
    CONTRIBUTION EMPLOYMENT TOURISTS SPEND
    NO. COUNTRIES TO GDP OFFERED INTERNATIONAALL
    Y
    (USD)
    1 Turkey 7.3% 2.42 million 28.1 billion
    2 France 6.5% 2.60 million 43.9 billion
    3 Saudi Arabia 6.5% 1.30 million 6.1 billion
    4 UAE 6.4% 644.3 (000s) 18,388.5 million
    5 Germany 6.4% 5.10 million 24.6 billion
    6 UK 5.7% 4.11 million 4.7 billion
    7 US 5.5% 10.50 million 40.3 billion
    8 China 4.6% 73.31 million 14.1 billion
    9 Mauritius 4.6% 74.7 (000s) 182.4 million
    10 Japan 4.2% 5.50 million 1.0 billion
    11 Iran 4.1% 1.29 million 2.5 billion
    12 Pakistan 3.7% 3.34 million 852.1 million

    Moreover, there is a vast scope of tourism in Pakistan. Khyber


    Pakhtunkhwa, Gilgit Baltistan, and Azad Kashmir are famous for their
    scenic views of nature. If we talk about Punjab, Sindh, and Balochistan,
    they are famous for cultural tourism. We can boost our economy by
    promoting tourism by taking some immediate actions. High-level
    hotels, proper roads, and tracks, tree plantation, maintenance of
    existing assets, garbage cleaning, search for more tourism points, and
    some legislation for the security of tourists and assets.

    As a Pakistani, I can say that this region has a lot of tourism potential.
    For 2020, Pakistan was named "The Best Holiday Destination" and "The
    Third-Highest Potential Adventure Destination in the World." Travel has
    increased by more than 300% in the last two years as the country's
    security has improved. So we have to promote our tourist points and
    keep them clean as well. Last but not the least, the credit goes to all
    these martyrs who sacrificed their lives to restore peace to the country.

    NAME: Muhammad Usama Bin Imran


    Reg No. : 20200045
    Mobile: 0323-1487020
    Campus: Lahore

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