TOURISM DEVELOPMENT AND ECONOMIC GROWTH IN PAKISTAN; A THEORETICAL ANALYSIS

Abstract

The travel and tourist industry is highly interdependent on other sectors of the economy, which means that it generates substantial indirect income, attracts international investment, opens up new avenues for trade, and funds both public and private development and infrastructure projects. Pakistan is culturally diverse, geographically diverse, and historically rich, all of which contribute to the region's vast tourist potential. In recent years, tourism has emerged as a powerful tool for generating substantial financial benefits. With its proximity to some of the world's highest mountains, lakes, and natural scenery, Pakistan's tourism industry is ripe with opportunity and draws in tourists from near and far. A review of Pakistani studies pertaining to the tourist sector is presented here. Examining the complex relationship between tourism, GDP growth, and technological improvements, this research highlights how the tourist industry significantly influences global economic dynamics. Our findings provide light on the multiplicative effects of tourism on GDP, employment, and general economic growth. We highlight the relationship's intrinsic complexity via a comprehensive literature review; this is especially true in light of our increasingly interdependent global economy.