Hello
everyone
This week we are in Pakistan and I will tell you
something more about the economy.
Pakistan
has the 27th largest economy of the world in terms of purchasing
power parity and the 44th largest in terms of nominal GDP. Pakistan
has a semi-industrialized economy which encompasses textiles, chemicals, food
processing, agriculture and other industries. The economy has suffered in the past from decades
of internal political disputes, a fast growing population, mixed levels of
foreign investment and high defense spending. Due to inflation and economic
crisis worldwide, Pakistan's economy reached a state of Balance of Payment crisis.
There is a lot of
poverty in Pakistan and the government have spent over 1 trillion Rupees, which
is about $ 16.7 billion, on poverty alleviation programs during the past four
years. They have cut the poverty from 35% to 24%. Pakistan is a medium
development country, it has a large informal economy which the government is
trying to document and asses. High inflation and limited wage growth have drawn
more women into the workforce to feed their families, in spite of cultural
resistance and domestic abuse over the issue.
Tourism in
Pakistan is stated to be the tourism industry’s next big thing. Pakistan has
diverse cultures, people and landscapes. This has attracted 0.7 million
tourists to the country, this is almost double to that of a decade ago.
The tourism
industry is still growing. The country is popular because of the ruin of
civilization such as Mohenjo-daro, Harappa and Taxila but also the Himilayan
hill stations. Pakistan has several mountain which attracts adventurers and
mountaineers from around the world. Before the Global economic crisis, Pakistan
received more than 500,000 tourists annually. Karachi,
Peshawar
and Lahore
are major attractions for authentic Pakistani food and culture.
So that was it
for this week
Talk to you soon
Xoxo
Mieke
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