Abstract:
Covid-19 has become a prevalence worldwide, it has immensely affected every aspect of life,
significantly showing the drastic collapse in the economic sector across the globe. Which includes
the unprecedented disruption to economies. According to a recent study analysis, the outbreak of
novel viruses has caused the worst global recession which has led the firm performances of the
economy to a stagnant economy.
Lockdowns to contain the spread of coronavirus negatively impacted almost every economy in the
world. In Pakistan, Punjab, the largest province of Pakistan, observed lockdowns from 11 May
2020 to 31 May 2020. The period between May and August is considered to be the peak season
for the tourism industry in Pakistan. This can be observed from google trends and can be confirmed
from various sources. The sudden fall in travelling in Pakistan negatively impacted the economy
of the country.
A report published by the World Tourism Organization reported that the global tourism industry
will see a loss of $300-$500 billion globally. The tourism industry of Gilgit Baltistan saws a similar
impact. With reference to the Sustainable Development Goals (SDGs) the mobility restrictions
within and across the countries has dropped sharply, in this regard the GDP ramification becomes
obvious in Pakistan. According to South Asia Economic Focus, spring 2020, The biggest and
most immediate impact of the lockdown is the halt in business operations, primarily in the tourism
sector in Pakistan. Among all the regions of Pakistan, the impact of Covid-19 has empirically been
assessed in terms of a drastic collapse in tourism in Gilgit Baltistan, as the tourism industry of G B warrants its re-envisioning as a creative economy that also contributes to the image and economy
of Pakistan. The study will analyze the extreme socio-economic impacts of Covid-19 on the
Tourism industry of Gilgit Baltistan.
