Hospitality Industry in Pakistan Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Hospitality Industry in Pakistan Analysis:

1. The Pakistan Tourism and Hotel Market is projected to experience a Compound Annual Growth Rate (CAGR) of over 6.56% during the forecast period. Pakistan is quickly becoming a significant investment destination for the development of new hotels and tourism industries. The country’s hotels are experiencing a significant increase in occupancy rates, and this trend is expected to continue in the coming years. In the medium to long term, the market is expected to gain momentum, with Pakistan becoming one of the most sought-after tourist destinations, making it an attractive location for travelers. The country anticipates that tourism will contribute more than USD 3.5 billion in the coming years, thanks to significant initiatives aimed at promoting the hospitality industry.

2. The COVID-19 pandemic had a significant impact on Pakistan’s tourism and hospitality industries, as people were unable to visit the country due to safety measures and various lockdowns imposed by the government. However, the government announced plans to promote tourism by relaxing visa restrictions for foreign travelers during this period. The pandemic caused severe losses for hotels in the country, with three out of seven major hotels in Karachi closing down.

3. Following the reopening of the economy for tourism activities, the hotel industry in Pakistan is experiencing continuous growth, with an increase in the number of bookings made through online channels. The government has launched the Salam Pakistan brand to promote the country’s diverse tourism sector, indicating its commitment to reviving the country’s tourism industry. Additionally, package holidays in the country are experiencing significant growth, creating opportunities for various sectors and agents involved in the hospitality industry. Despite the challenges posed by the pandemic, Pakistan’s tourism and hotel market is expected to continue growing in the coming years, making it an attractive investment destination for the development of new hotels and tourism industries.

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