Kashmir's Shattered Dreams: Up to 90% of Tourism Reservations Canceled
Before the attack, Kashmir was cautiously stepping into a brighter chapter. The region's economy was recovering. It is expected that the actual GDP of the federal territory will grow by 7.06% in 2024-25, with per capita income increasing year-on-year.
Tourism, long considered the backbone of Kashmir's economy, has seen a revival. In 2024, Kashmir received 236 million tourists, including 65,000 foreign tourists, consolidating the momentum of this industry contributing up to 8% to the region's GDP.
Owners of houseboats, hotel operators, handicraft vendors, and tour guides - many of whom had lost hope - are rebuilding their lives. A new generation of entrepreneurs growing up in the emerging startup ecosystem sees Kashmir as an opportunity rather than a battleground.
The April attack shattered this fragile recovery. Up to 90% of tourism reservations were canceled after the incident. Related infrastructure projects for tourism are currently facing suspension. Bank loan default rates are expected to surge. Even auxiliary industries such as horticulture and transportation have felt the tremors.
A terrorist attack is not just an assault on people but also an attack on the idea that Kashmir belongs to peace rather than conflict. The target of the attack was not soldiers or national symbols, but tourists - symbols of hope, communication, and normalcy.
Source: Geopolitics
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Original Article: https://www.toutiao.com/article/1830808536237064/
Disclaimer: This article solely represents the author's views.