Pakistan Tourism and Hotel Market Outlook 2031
The Pakistan tourism and hotel market size was valued at USD XX Billion in 2022 and is likely to reach USD XX Billion In 2031, expanding at a CAGR XX% during the forecast period, 2023–2031. The growth of the market is attributed to diversity of culture in the country.
Tourism refers to travelling to various locations for leisure, business, or personal purposes. It is the one of the most profitable and entrepreneurial business, especially for people living in the mountain areas. The industry creates new job opportunities and reduces the unemployment level. Tourism is an important component of Pakistan's economy.
The country is geographically and ethnically diverse, and has a number of historical and cultural heritage sites. Pakistan is known for its mountains, lush fields, deserts, rivers, lakes, and seashores, which makes it an enticing destination for the tourists. Overall, 60,070 foreigners have visited tourist attractions in the country during the past six years, especially to the enthralling places located in the northern parts of the country.
Pakistan Tourism and Hotel Market Trends, Drivers, Restraints, and Opportunities
- Rising trend of substantial increase in the growth of hotels, in terms of occupancy and average rate, is expected to drive the market expansion in the coming years.
- Pakistan has developed as one of the most desire tourist destinations on the global map, boosting the market growth.
- Increasing number of government's tourism campaigns to boost the tourism in the country is projected to drive the market growth during the forecast period.
- Pakistan is emerging as an important investment destination for new hotels, spurring the market expansion.
- Increasing tendency of shared accommodation services in the hotels can hamper the growth of the market in the projected timeline.
- The COVID-19 pandemic has hugely impacted the tourism industry across the globe. Rising number of cases has led to the closedown of hotels and imposed restriction on international travel. However, the acceleration in the vaccination drive is expected to help the market in the country recover soon.
- Growing investments on road and airports infrastructure to ease the travel is estimated to create immense opportunities for the market players in the country during the forecast period.
Scope of The Pakistan Tourism and Hotel Market Report
The report on the Pakistan Tourism and hotel market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Tourism and Hotel Market - Pakistan Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types of Tourism (Inbound Tourism and Outbound Tourism), Types of Hotels (Economy & Budget Hotels, Mid-scale Hotels, Upper-scale Hotels, Premium & Luxury Hotels, and Others)
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Regional Scope
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Pakistan
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Pakistan Tours Limited, Cox & Kings Pakistan (Pvt) Ltd, ClickPakistan, Karachi Marriott Hotel, Avari Towers Karachi, and Islamabad Serena Hotel.
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Pakistan Tourism and Hotel Market Segment Insights
Outbound tourism segment to hold a large market share
On the basis of types of tourism, the market is bifurcated into inbound tourism and outbound tourism. The outbound tourism segment is expected to constitute a 948 USD Million in international tourism during the forecast period. The Government of Pakistan has eased the country's visa policy, which is a key factor attracting a large number of foreign tourists. Moreover, the policies of the government state bodies to promote domestic and international tourism is driving the segment growth.
Mid-scale hotels segment to grow at a significant pace
In terms of types of hotels, the market is segmented into economy & budget hotels, mid-scale hotels, upper-scale hotels, premium & luxury hotels, and others. The mid-scale hotels segment is expected to expand at a rapid pace during the forecast period. Rapid development of mid-scale hotel properties is driving the growth of the market segment. The ability of mid-scale hotels to facilitate enhanced services at lower prices is expected to spur the market expansion.
Segments
The Pakistan tourism and hotel market has been segmented on the basis of
Types of Tourisms
- Inbound Tourism
- Outbound Tourism
Types of Hotels
- Economy & Budget Hotels
- Mid-scale Hotels
- Upper-scale Hotels
- Premium & Luxury Hotels
- Others
Country
Key Players
Competitive Landscape
Key players competing in the Pakistan tourism and hotel market include Pakistan Tours Limited, Cox & Kings Pakistan (Pvt) Ltd, ClickPakistan, Karachi Marriott Hotel, Avari Towers Karachi, and Islamabad Serena Hotel.
Companies are engaging in partnerships, acquisitions, and collaborations to expand their market share.
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