By Ayesha Mudassar ISLAMABAD, Feb. 15 (INP-WealthPK) The hospitality sector in Pakistan caters to an overwhelming number of both local and foreign tourists every year. In 2020, the tourism and hotel market was estimated to be worth around USD20 billion with a CAGR of 3% predicted by 2026. However, the outbreak of Covid-19 pandemic in 2020 impacted the tourism and hotel industry considerably, as tourists were unable to visit Pakistan due to travel restrictions, strict safety precautions and lockdowns. The pandemic left thousands of people jobless, exposing hundreds of thousands of families to poverty, hunger and even starvation.

	2019	2020
Global Data
Total GDP contribution	10.4% USD 9,170 BN	5.5% USD 4,671 BN
Total Travel & Tourism Jobs	334 MN	272 MN
Pakistan Key Data
Total GDP contribution	5.7% USD 15,065.9 MN	4.4% USD 11,579.5 MN
Total Travel & Tourism Jobs	3,446.4 Jobs (000s)	3,063.2 Jobs (000s)

Source: World Travel and Tourism Council   Market Overview Over the last few years, Pakistan has emerged as one of the most popular tourist destinations in the world. In addition, this South Asian country has topped a number of worldwide travel lists, making it a popular tourist destination. Tourism is an important component of Pakistan's economy and a significant source of foreign exchange earnings. The government's tourism campaign has also aided in raising the country's profile in the international market. Increased investments are being made in highways, airports, and other facilities to ease travel in the country. Pakistan is also becoming a popular investment destination for new hotel development. Hotels in Pakistan are experiencing considerable growth in terms of both occupancy and average rate, and this trend is projected to continue in the future years. Increase in international visitors to Pakistan The Government of Pakistan has eased the visa policy, which has helped attract a huge number of foreign visitors. Overall, 60,070 foreigners have visited the country's tourism attractions in the last six years, primarily to the captivating locations in the country's northern regions. Following the policies of the current government and measures taken to boost domestic and international tourism, the country forecasts a nearly 30% increase in the number of visitors until 2030. Tania Sufi, Manager Strategy at the Universal Service Fund (USF), told INP-Wealthpk that the Fund was aggressively pursuing initiatives to boost tourism by providing seamless connectivity, as it will help Pakistan to upscale its economy, offering tourists unique experiences and the benefits of staying connected. She added that the provision of ICT services will help the visiting tourists and local citizenry in income-generating activities. This will also play a significant role in sending timely responses to the agencies concerned in case of emergency. The tourist locations include Babusar Top, Lake Saif ul Malook, and Sharan Forest in Manshera district, Kumrat Valley in Upper Dir district, Mahodand Lake in Swat district and Galiyaat. Flourishing hoteling industry in Pakistan The hotel industry in Pakistan is acting as a driving force behind the country's economic growth and is continuously expanding and flourishing. For example, Movenpick Hotel Centaurus Islamabad debuted in 2020 as the centrepiece of a new upmarket mixed-use development. Furthermore, hotels play a significant role in the promotion of tourism, and as the country's economy changes, more hotels are being built. In 2019, the Avari Hotels Group opened new hotels in Multan, Faisalabad, Marri, and Lahore. Developments

• In March 2021, Hilton and Dhabi Hospitality agreed to build a premium Doubletree by Hilton Hotel in Islamabad, which is expected to open in 2025. The hotel to be located west of Islamabad will have 167 rooms, including 10 suites. The land will be used for both residential and business purposes.
• The department of Tourism, Culture, Sports, and Archaeology in Khyber Pakhtunkhwa had launched 17 billion worth of projects for the promotion of tourism in 2020. The Balochistan administration launched seven projectsto enhance tourism in the coastal areas. Apart from this, other initiatives were also launched with the involvement of the National Tourism Coordination Board (NTCB) and PTDC Pakistan Tourism Development Corporation (PTDC) among others.