{"id":94689,"date":"2023-08-28T16:45:53","date_gmt":"2023-08-28T11:45:53","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=94689"},"modified":"2023-08-28T16:45:55","modified_gmt":"2023-08-28T11:45:55","slug":"tourism-witnesses-progress-fy-22-23","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/tourism-witnesses-progress-fy-22-23.html","title":{"rendered":"FY 2022-23: Tourism industry surges by 87% surge, construction lags"},"content":{"rendered":"\n<p>Islamabad: In a remarkable twist, the fiscal year (FY) 2022-23 witnessed an impressive 87% surge in earnings from the tourism sector, while the construction sector faced a steep decline of 60%, as per the news article published on August 24.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/shahdara-flyover-completeion-deadline.html\" target=\"_blank\" rel=\"noreferrer noopener\">Directives issued to complete Shahdara Flyover next month<\/a><\/p>\n\n\n\n<p>Revealed through a performance report for the fiscal year 2022-23, the tourism sector generated a noteworthy USD 930.5 million in earnings, in stark contrast to the USD 500 million reported in the previous fiscal year of 2021-22. On the other side, the construction sector faced a downturn of 60.5%, plummeting from the previous fiscal year\u2019s earnings of USD 860 million to a modest USD 340 million. The otherwise booming Information Technology (IT) domain, which has gained global momentum, seemed to have hit a plateau, experiencing a marginal decline of 0.6% during the last fiscal year.<\/p>\n\n\n\n<p>Prominent trade data from the previous fiscal year with various countries and regions were outlined in the documents. Trade ties between Pakistan and the European Union demonstrated a volume of USD 14.2 billion. The documents highlighted Pakistan\u2019s exports to the EU at USD 9.49 billion, with imports at USD 4.71 billion. Furthermore, Pakistan\u2019s exports to the United States totalled USD 6.04 billion. Trade engagements with African nations during the previous fiscal year summed up to USD 4.44 billion.<\/p>\n\n\n\n<p>Intriguingly, the trade volume with Gulf countries reached an impressive USD 19.62 billion, with Pakistan\u2019s exports contributing USD 16.97 billion while imports accounted for USD 2.66 billion. Over a year, Pakistan\u2019s revenue from the Middle East showcased a 3.2% uptick, accompanied by a significant 24% reduction in imports from the region. An additional accomplishment was the trade worth of USD 186.4 million established with Afghanistan.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/tourism-efforts-in-gorakh-hills.html\" target=\"_blank\" rel=\"noreferrer noopener\">GHDA shares insights on tourism efforts in Gorakh Hills-Dadu<\/a><\/p>\n\n\n\n<p>Notably, Pakistan\u2019s exports to Afghanistan tallied USD 97.2 million, counterbalanced by imports amounting to USD 89.3 million. Meanwhile, trade interactions with Iran amounted to USD 88 million. Lastly, Pakistan\u2019s trade volume with Central Asian states settled at USD 34.5 million, a figure projected to rise as the Afghan situation stabilises.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recent reports indicate a remarkable surge in the tourism sector&#8217;s growth throughout the fiscal year 2022-2023.<\/p>\n","protected":false},"author":88,"featured_media":71589,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[24276,57280,1700],"persona":[],"class_list":{"0":"post-94689","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-construction-sector","9":"tag-latest-news","10":"tag-tourism-in-pakistan","11":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tourism Witnesses Progress in FY 22-23 - Zameen News<\/title>\n<meta name=\"description\" content=\"As per the reports recently shared, the tourism sector has made a significant development during the fiscal year 2022-2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/tourism-witnesses-progress-fy-22-23.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tourism Witnesses Progress in FY 22-23 - Zameen News\" \/>\n<meta property=\"og:description\" content=\"As per the reports recently shared, the tourism sector has made a significant development during the fiscal year 2022-2023.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/tourism-witnesses-progress-fy-22-23.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-28T11:45:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-28T11:45:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/10\/Islamabad.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Muhammad Zohaib Nasir\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Muhammad Zohaib Nasir\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Tourism Witnesses Progress in FY 22-23 - Zameen News","description":"As per the reports recently shared, the tourism sector has made a significant development during the fiscal year 2022-2023.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/tourism-witnesses-progress-fy-22-23.html","og_locale":"en_US","og_type":"article","og_title":"Tourism Witnesses Progress in FY 22-23 - Zameen News","og_description":"As per the reports recently shared, the tourism sector has made a significant development during the fiscal year 2022-2023.","og_url":"https:\/\/www.zameen.com\/news\/tourism-witnesses-progress-fy-22-23.html","og_site_name":"Pakistan Real Estate News &amp; 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