Pakistan’s Tourism Sector Struggles as Country Ranks Low in Global Index
In a recent report by the World Economic Forum (WEF), Pakistan was ranked a disappointing 101st out of 119 countries in the Travel and Tourism Development Index. This places Pakistan near the bottom in the Asia-Pacific region, with only Bangladesh ranking lower.
The index evaluates various factors and policies that support the sustainable growth of the travel and tourism sector, which in turn contributes to overall national development. The United Arab Emirates led the Middle East rankings at 18th place, followed by Saudi Arabia, Qatar, and Bahrain.
The top spots in the global rankings were dominated by the United States, Spain, Japan, and France, with countries like Australia, Germany, and the United Kingdom also making the top ten. These countries were praised for their favorable business conditions, open travel policies, and advanced infrastructure.
Despite improving three places since 2019, Pakistan’s low ranking is concerning for its struggling economy. The country heavily relies on expensive borrowing to maintain its foreign exchange reserves, which currently stand at $9.16 billion, covering less than two months of imports. To address this economic instability, authorities are seeking a larger bailout from the International Monetary Fund (IMF).
Experts believe that Pakistan has the potential to significantly boost its foreign exchange earnings through tourism, thanks to its stunning mountain peaks and historical sites. However, the country will need to address various challenges, including the impacts of climate change and the integration of new digital technologies, to improve its ranking in the global tourism sector.