Hotel industry offers a large margin to Pakistan's economy.

Byline: S. Kamal Hayder Kazmi

In Pakistan, Hotel industry makes a considerable part of the service sector. Experts identified that food, accommodation and dress are the three most essential things of human. Hotel industry or hotel alone offers two basic things: accommodation and food. No doubt, hotel is a part of the hospitality industry which is an umbrella term for a broad variety of service industries counting, but not limited to, hotels, restaurants and casinos. The Hotel industry worldwide has focused on training and human resource development to compete in the current business environment. Statistics showed that the global hospitality sector has tremendous facts and its direct contribution is about USD 2.3 trillion, which is about 3.1 percent of the global Gross Domestic Product (GDP) during 2016. However, the overall contribution of the hospitality industry remains USD 7.6 trillion. By 2027, the global economic impact is forecasted to grow to 11.4 percent of GDP i.e. USD 11.5 trillion. They also said that the hospitality industry offered 3.6 percent of direct employment of the total employment and it reaches at 108 million. An estimated figure of 2027 is tolled for 138 million direct jobs. The indirect job market induced through the hospitality industry is considerably higher and it registered 292 million jobs in 2016 i.e. 9.6 percent of the total employment. The year 2027 forecast is 381 million jobs and it is 11.1 percent of the total employment with annual growth of 2.5 percent.

Historically this has been working in Pakistan from the time of independence. This industry also offers a large margin to the Pakistan's economy. The Hotel industry leads a large proportion of Pakistan's revenue. In the beginning there were not many hotels but after lapse of time, the development of local and international hotels in an economy. For example, one of the early local hotels are International brands in hotel industry in the country appear as dominant hotel chain present in largest domain like Karachi, Lahore, Islamabad and Dubai. Pakistan, which is a most beautiful country and a land of heartsease and fluke, attracts thousands of tourists yearly. It has many tourist places with well rendered city and airport hotels. It is also said that before 2008, the industry avail tremendous progress because of fuel by the Pakistani tourism industry. No doubt, the industry in Pakistan is acting as a stimulant the development of economy of Pakistan...