Business

LAHORE – It is often heard that the quality of experience is more important than the price tag attached to it.

This cannot be held truer for the hospitality industry of Pakistan, specifically in the developing countries. This is because the ‘quality of experience’  highlights the essence that the hospitality industry possesses. Just like the name that the industry is christened with, it aims to serve the people by helping them smoothen their travel. Event management, transportation and logistics are just a few of the complementary services that the industry is attached to.

Due to the nature of its services, the hospitality industry is closely related to other industries including the tourism industry. This is one reason because of which the global hospitality industry is seeing an upward trend. The Pakistani economy also seems to benefit from the positive injections that hospitality industry offers.

The reasons for the upsurge in the hospitality industry of Pakistan can be contributed to a number of factors. Jovago Pakistan has compiled a list of factors that have helped the hospitality industry to grow. These factors are explained below:

Upsurge in the tourism industry

Many analysts predict that the tourism industry has a lot of potentials to emerge as a major contributor to Pakistan’s GDP. The prediction comes due to the strategic position that the South Asian country enjoys as a result of the various forms of natural landscapes that it is home to. With more and more people travelling to and within Pakistan, the local tourism industry has grown over the years. This boom has also positively impacted the hospitality industry, as both sectors work hand in hand.

Improved Law and Order Situation

Security is one of the key indicators that need to be taken into account when travelling to another country. Despite the challenges that Pakistan has faced due to terrorism, the law and order situation has immensely improved in the country. This has lead to an increase in inbound  tourism, which in turn has to lead the hospitality sector to grow.

Rising Startups 

According to analysts, small and medium-sized businesses are the backbone of the economy.

This is because they not only provide employment to the local people but also provide customers with better yet innovative products.

In Pakistan also, one can see an upsurge in the small and medium-sized businesses as many start-up businesses have started. The good thing about theses startups is that they not only bring innovative ideas on board but also help Pakistan to benefit from the technological advancements taking place.

Improved Internet connections

The South Asian country has seen a phenomenal increase in internet penetration. This is because of the introduction of  3G and 4G internet connections by the telecommunication companies which have helped local businesses to not only grow locally but expand to offshore markets.

The advent of digital marketing has provided a platform to businesses including event management companies where they can connect with customers and other stakeholders. The launch of 5G internet connection will further help people and businesses to grow.

The factors explained above are some of the reasons that have triggered the boom that the hospitality industry is experiencing. Following the global trend, this sector is also thriving in Pakistan as the country’s hospitality industry possesses a lot of potential because of its close linkage with the other industries.

Moreover, there has been a substantial rise in inbound tourism, which is a positive sign for the South Asian economy. The industry is open for people from all walks of life, to work and benefit from.

We wish the hospitality industry and all the businesses associated with it, the best of luck in its future endeavours.