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