With its rich natural and cultural resources, Pakistan has the potential to become one of the world’s leading tourist destinations. The South Asian country has already topped several international travel lists. According to World Travel and Tourism Council (WTTC), the tourism industry of Pakistan can grow up to $39.8 billion within a decade. Pakistan experienced a sharp increase in tourist activity from 2014 to 2019 and the government has also announced ‘a Strategy to Help Mitigate the Socioeconomic Impacts of Covid-19 on Pakistan’s Tourism Sector’ in 2020. However, challenges in the social and services sector, policy design, safety and security, tourism infrastructure, and lack of an enabling environment have led to a weak competitive position for Pakistan.
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Pakistan’s real estate sector is an engine of economic growth for the national economy. However, a lack of regulation, lack of access to information, and malpractices are some of the main reasons why the sector has not reached its full potential. Pakistan can become a USD 1.5 to 2 trillion economy by 2030 if reforms and best practices are introduced in the real estate, construction, and allied sectors of the economy. The real estate market requires market innovation, technology adoption, and the development of trained and regulated human resources. Today, being established as the first real estate think tank of Pakistan, the Iqbal Institute of Policy Studies aims to bring to light some of the key developments in the real estate sector of Pakistan which have revolutionised real estate in a positive direction.
It is estimated that the global old-age population will double by 2050, and as people age, their ability to cope with the rapidly changing socio-economic environment and the subsequent societal support required to maintain a healthy life diminishes. Pakistan is home to 9.4 million senior citizens, and much of the social infrastructure present in its modern cities do not facilitate senior citizens. They continue to struggle with the fast-paced urban life and the challenges it presents on a day-to-day basis. There is a need to make cities inclusive for people of all ages and capabilities. It is important to reintegrate senior citizens in modern urban settings to create a healthy, more inclusive, and sustainable society.
Pakistan is the fifth most populous country in the world. The youth from age 15-30 forms a major part of the national population. Unfortunately, government statistics on the young labour force show that 80% of the youth lack proper education and skills. Pakistan’s current economic position requires its youth to have a developed skill set that will equip them to deal with the fast-evolving global and national market trends. Unfortunately, the cost of training is unaffordable in the private sector and limited in scope in the public sector. Therefore, most of the youth have low employability and are unable to start businesses of their own. Iqbal Institute of Policy Studies is conducting an online seminar titled, “Significance of skill development for people’s empowerment and national development.” The webinar will host eminent speakers from the public and private sectors to deliberate on this important issue.
Roshan Apna Ghar is an initiative of the State Bank of Pakistan for non-resident Pakistanis to acquire properties in their home country. Under the scheme, overseas Pakistanis can complete their transactions remotely and digitally with their investment being fully repatriable. The non-resident Pakistanis can now purchase or obtain financing for houses in Pakistan through the Roshan Digital Account.
A business incubator is designed to create an environment in which businesses can grow by providing them with the necessary innovation, technology, and finances. Millions of startups have developed into million-dollar companies with the help of incubators. Companies like Uber and Airbnb started out in business incubators. Today, these companies are worth billions of dollars. Pakistan has a relatively new startup culture. Despite a lack of financial and technological resources, Pakistani startups have shown remarkable results. The webinar will dilate on the concept of business incubation centers and their significance in creating a business conducive environment in the country. The aim of this webinar will be served well if we are able to highlight the important role of such centers in transforming the business landscape and suggest a way forward for Pakistan. Watch the live webinar here
The global construction industry is steadily changing due to the use of disruptive technologies like modular construction, 3D printing of buildings and Building Information Modelling Software (BMIS). Technology in the construction sector of Pakistan has enormous potential for growth and development. But teething problems related to lack of funds and government facilitation affect the industry’s ability to grow and remain competitive.