How does Tourism Industry Support the Small and Medium Enterprises?

Globalization has opened rooms of opportunities for even the most neglected sectors of the country. Pakistan is gifted with perfect touristattractions, favorable weather conditions and an ideal strategic location for traveling. However, despite all these conducive factors, we still haven’t exploited the potential of our domestic and international tourism industry.

The beauty of this industry is such that it works in conjunction with other industries in the country. For example, an increase in the tourist footfall in the country also leads to an increase in the hospitality and local travel industries. This greatly increases the business opportunities for all the young and passionate entrepreneurs who are constantly on the lookout for emerging and lucrative markets.

Consider the example of Pakistan’s leading online hotel booking service Jovago here. Starting off its operations in March 2015 with just 30 bookings, it has now shown phenomenal growth by securing more than 30,000 bookings in just a year’s time. Such is the promising nature of this industry! The stats show there is huge potential in travel and tourism industry of Pakistan.

Expansion of tourism in any country opens markets for its small and medium enterprises by exposing its domestic products to the national, as well as the international travelers. This plays a vital role in exposing national products to international markets. A strong country brand then leads to the strengthening of small national brands striving hard to get relevant exposure in national and international markets.

With the advent of wireless technologies in the country, like most other industries, even the tourism industry is undergoing some significant structural changes. Adaptation to change and responsiveness to market insights have become the key factors to survive and thrive in this industry. This particularly increases the importance of SMEs in the sector. Due to their size, these enterprises can quickly embrace and respond to market changes in a much more economical and faster manner. Hence, the existence of SMEs in the industry ensures the long-term relevance of the sector, making it one of most dynamic and fast paced industries.

As Pakistanis, we should take the responsibility individually to support and promote domestic tourism as well as highlight the positive image of our country.