ISLAMABAD: CPEC helps revitalize Pakistan’s hotel industry, according to WealthPK on Monday.
The Hotel industry is a vital part of the services sector in Pakistan and constitutes the backbone of the tourism sector. This sector, which is one of the major sources of employment and handsome foreign exchange, has suffered many ups and downs in the last twenty years.
This thriving and booming sector employing 1.5 million people (2.7% of total labour force) suffered the first major blow when the World Trade Centre [WTC] in the US financial district of Lower Manhattan came crashing down in September 11, 2001 terrorist attacks.
This tumultuous event that marked a watershed in the human history inflicted losses of $126 billion on the Pakistani economy. The hospitality industry, of which hotel industry is an important part, suffered the worst like so many other sectors. -INP
