According to the nonprofit World Travel and Tourism Council, which represents the international tourism industry, travel and tourism contributed $8.8 trillion to the global economy in 2018 and was responsible for 10.4 percent of all economic activity. The council estimates that travel and tourism are responsible for 319 million jobs around the world.
With governments locking down their borders and people around the world staying home for weeks to help stem the spread of the coronavirus, several companies are struggling to survive. At least three regional airlines have filed for bankruptcy in the United States and United Kingdom. To stave off collapse, U.S. carriers have accepted $58 billion in loans and payroll grants as part of the U.S. government’s stimulus package. The pandemic has caused bankruptcies in the cruise industry too, and cruises’ reputation for hassle-free travel has surely taken a hit.
The recent pandemic, one of the worst in the course of history shatters all the assumptions and futurist plans of tourism in Pakistan. The country being one of the developing nations in South Asia and already trying its best to find itself step to sustainable economic development. The current pandemic COVID-19 is nothing like the country has ever seen. As per standard policies of WHO it requires countries to follow lock-down to tackle the pandemic, every aspect of the society stands still in the prospect.
The naive PTI government is asking for more loans and donations from developed countries and global institutions like the IMF and World bank due to deteriorating economic conditions. Import, exports, various industries, local businesses and vendors are facing huge challenges, there is a huge demand for essential consumer products and other necessities of daily life.
With lockdown in progress throughout the country, travel bans and various industries shut alongside the private sector at the brink of recession, it presents an alarming situation for residents of GB, since most of the people there are dependent on tourism.
No tourism necessarily means no bread and butter for the masses of highlands. Businesses in the GB, have come to a grinding halt as the world scrambles to contain COVID-19. Much of the population makes a living by providing services to hotels, and tourists in the region.