Tapping into Economic Opportunities: Economic Renaissance through Tourism in AJK

Abstract

 Tourism is a crucial factor in economic development, especially in
areas with strong cultural traditions and scenic beauty. Situated in the
foothills of the Himalayas, Azad Jammu & Kashmir (AJK) has a great
deal of unexplored potential for tourism growth. In addition to outlining
sound tactics for developing a vibrant tourist and hospitality industry,
this study seeks to assess tourism’s economic influence in AJK. This
dissertation weighs the economic assistance of tourism in AJK over the
span of three years. The study employs a Triangulation approach e. This
particular study was designed through the use of surveys, official
reports, and academic literature. The study highlights the economic
benefits of tourism in AJK, including the establishment of
infrastructure and opening the way for SMEs (Small and medium
enterprises). However, the hurdles faced by AJK are scarce marketing,
geopolitical instability, and environmental issues that hamper its
realization. This study also uncovers the ground realities of tourist
destinations. The results suggest proactive interventions regarding
investment policies, sustainable environmental management, and
upgrading the skills to crack tourism potential and promote economic
development. This study also analyzes that the implementation of
capital-intensive projects can bolster the tourism infrastructure and
emphasize the sophisticated econometric modeling techniques to
analyze tourist preferences and spending patterns, thereby informing
the design and implementation of targeted marketing strategies. This
approach involves deploying predictive analytics algorithms to
segment tourist markets based on socio-economic factors, which can be
used for developing evidence-based policies for tourism's
transformative capacity as a catalyst for equitable economic growth in
the region.