1- CPEC to bring $3.01 billion of inflows in next five years in Pakistan. 2- Dollaar hits historical high at 157 in open market.

Pakistan's tourism industry on
rise with CPEC

Posted on November 13, 2018 at 04:00 PM

Gwadar port of Pakistan has attracted different countries to invest. It is one of the best places to invest in Gwadar and due to recent investments in Gwadar port and influx of China through China Pakistan Economic Corridor. CPEC is connecting Gwadar port of Pakistan with Kashgar with highways and railways. CPEC will transfer Pakistan into the regional economic hub and increase the level of confidence of investors.

Ms wang while talking to Daily Times said that travelling in Pakistan is increasing year by year with an expected number of 50+ million according to Pakistan Tourism Development Corporation (PTDC). It shows a lot of potential for the tourism industry.

During the emerging regime of General Ayub Khan in the 1960's the government of Pakistan developed a master plan for the tourism sector and French consultants were invited to Pakistan.

The government of Pakistan invested a heavy amount in the development of three forms of tourism in Pakistan that is archaeological, religious and recreational.

The government renovated the Mughal era mosques and Sufi shrines. The new hotels, cinemas and restaurants were developed and constructed.

Development of China Pakistan Economic Corridor (CPEC) will lead to the development of infrastructure of Pakistan and will give a positive impact on Pakistan. The new infrastructure will be developed as well as the previous infrastructure of roads and railways will be updated to meet the requirements.

Northern areas of Pakistan are more attractive to tourists. Gilgit Baltistan is the hub of tourism for locals and foreign tourists. Almost, 2.5 million tourists both international and domestic travelled to northern areas of Pakistan last year. Pakistan has the most beautiful and some of the highest mountains in the world including K2, Nanga Parbat, landscape, mountains, lakes, glaciers and Pakistan have five peaks above 8000 meters and 50 other mountains that are more than 7000 meters.

Mountaineers from across the world travelled to Pakistan and it will increase the tourism sector is improved via China Pakistan Economic Corridor (CPEC) According to the government survey, the total contribution of travel and tourism to the GDP of Pakistan was Rs 1918.5 billion which is 7.0% of GDP and rise 4.4% in 2016 and it will rise 5.5% per annum to Rs 3418 billion to the GDP till 2026.

The current government of Pakistan has focused on the tourism sector and opened new sectors like Governor houses and Prime Minister houses for the public. The government concerning to develop new hotels in hilly areas. It has been noticed that most of the hotels in northern areas meet the requirements of customer expectations at fewer prices. The report published by the government shows statics of 2018 that more hotels than ever were booked in this year. The occupancy rate of hotels increased from 35% to 80%. Gwadar airport has received the highest number of passengers this year as compared to other airports of the country.

The tourism sector has created a lot of jobs and contributed about 6.2% when it comes to statics of employment. The tourism sector has created almost 1,429,500 in Pakistan.

As a concluding fact, it is said that China Pakistan Economic Corridor will open numerous opportunities for Pakistan and its market. CPEC will connect major cities of Pakistan with roads, trains and airports easily.

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