Market Size of Pakistan Tourism and Hotel Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR (2024 - 2029) | > 6.56 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Pakistan Tourism and Hotel Market Analysis
The Pakistan Tourism and Hotel Market is expected to register a CAGR of greater than 6.56% during the forecast period(2024-2029).
Pakistan is emerging as an important investment destination for new hotel & tourism industry development. The hotels in Pakistan are witnessing a substantial increase in occupancy and are expected to continue further in the upcoming years. In the long to medium term, the market is expected to gain momentum, with the country emerging as one of the most sought-after tourist destinations, making it an attractive tourist destination for travelers. With major initiatives towards promoting the hospitality industry, the country expects tourism to contribute more than USD 3.5 billion over the coming period.
With the advent of the COVID-19 pandemic, Pakistan's tourism and hospitality industries suffered losses, as people were unable to visit Pakistan amidst safety measures and various lockdowns imposed by the government. The administration announced plans to develop and promote tourism with the relaxation of visa restrictions for foreign travelers during the period. Hotels in the country witnessed severe losses, with 3 out of 7 big hotels in Karachi being closed due to the pandemic.
Post-COVID-19, with the opening of the economy for tourism activities, the revenue of the hotel industry in Pakistan is observing continuous growth with an increase in the number of bookings made through online channels. With its efforts towards reviving the country's tourism, the government launched the Salam Pakistan brand, indicating the country’s commitment to promoting its diverse tourism sector. In addition to this, package holidays in the country are observing steep growth, creating opportunities for various sectors and agents involved in the hospitality industry.
