billion in 2002-03, showing a significant increase of 13.4 percent. Foreign
exchange earnings from Tourism during the year 2003-04 were Rs. 9.8
billion equivalent to US $ 0.17 billion, compared to Rs.6.3 billion or US $
0.11 billion in 2002-03. The over-all export receipts during 2003-04 were
almost 3 times higher than their level in 1994-95. The export receipts grew
by an annual rate of 12.2 percent over the last ten years (1994-95 to 2003-
04) while earnings from tourism increased at an annual rate of 10.8 percent
over the same period. The place of tourism in exchange earnings improved
from 10
year. Their share in the combined receipts of merchandise and service items
was 0.2 percent which was 0.8 percent in the previous year. ( See Table No.
3.6 Appendix).
Tourism & Balance of Payments
US $ 0.36 billion a year earlier, according to State Bank of Pakistan figures.
The negative travel balance in 2003-04 was mainly due to maximum amount
of foreign exchange consumed by exchange companies and Pakistani
nationals on religious travel for Umra and Hajj ( See Table No. 3.5 of
Appendix).
Tourism and G.N.P.
earnings from tourism as reported by State Bank of Pakistan amounted to
Rs. 9.8 billion equivalent to US $ 0.17 billion. Thus, tourism receipts were
0.2 percent of G.N.P in 2003-04 whereas they were 0.1 percent in 2002-03.
(See Table No. 3.7 of Appendix). The share of tourism has decreased due to
change of base year from 1980-81 to 1999-2000, and as a result, total
G.N.P. has increased. Contribution of tourism is much more, if income from
domestic tourism and other tourism activities are accounted for separately,
in national income account.
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