Role of Travel and Tourism in Economic Growth

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Do you know travel and tourism alone can play an important role in developing the economy?

You might not know that the according to reports of 2015, travel and tourism industry accounted for more than $7.58 trillion in global economy.

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Another interesting fact is that the new hub of travel and tourism, UAE receives 8.7% of its GDP from travel and tourism industry.  According to experts travel and tourism industry is one of the leading industries when it comes to generating jobs, and stabilizing the economy. The views were shared in Arabian Hotel Investment Conference (AHIC) 2016.

Some interesting facts were shared about UAE travel & tourism industry which says:

  • UAE Travel and tourism industry is expected to grow at the rate of 5.4% per year in next decade
  • Till 2026, approximately 850,000 jobs will be sustained by the tourism industry
  • Dubai has set the target to welcome 20 million guests by 2020

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The facts are interesting and work as food for thought for Pakistan. Undoubtedly there are some top destinations in Pakistan for foreigners to visit. The most popular ones are Azad Kashmir, Murree, Naran, Kaghan, Swat, Nathia Gali etc.

Unfortunately so far none of the Pakistani governments has taken serious initiatives to maximize the opportunities.  It is important today to focus on strategizing on how to generate revenue from our alternate resources like tourism which can ultimately stabilize the economy.

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