Pahalgam terror attack hits hard Kashmir Economy
News Kashmir Analysis
Pahalgam terror attack has badly dented the Kashmir economy. Tourism sector is worst hit as the attack occurred at a time when the Kashmir tourism was at its peak.
Many other allied sectors have been badly hit. The airfares which used to be sky high at this time are at historic low . In recent years at this time the airfares would sky rocket.
Even the agricultural sector seems to be hit. Many strawberry farmers in Gaasu the Strawberry village of Kashmir opined that last year tourists visited their fields and gave good price to crop, but this time Pahalgam terror tragedy has fetched them low price.
The transport sector especially the cabs services run mostly by youth of Kashmir for tourism purposes is also badly hit.
Expert pulse is The Pahalgam terror attack has dealt a severe blow to Kashmir’s economy and tourism industry. The region’s tourism sector, valued at thousands of crores and contributing 7-8% to Jammu and Kashmir’s GDP, has been significantly impacted. The attack, which occurred at the start of the peak tourist season, has led to widespread cancellations of hotel bookings and travel plans. Local businesses, including taxi services, hotels, and shops, are facing substantial losses. The incident has shaken visitor confidence, potentially affecting the region’s economic progress and livelihoods of around 2.5 lakh Kashmiris who depend on tourism.
It is painful to note that ground realities lay bare the fact tourism may not contribute a major share to Jammu and Kashmir’s GDP, the aftershocks of its shocking nlow are being felt across sectors, exposing the deep interdependence of the region’s economic spectrum.
Unemployment is already a chronic problem in Jammu and Kashmir with lacs of youth especially the highly qualified youth facing the perils of joblessness and this all round economic bleak outlook post Pahalgam terror tragedy has worsened the holistic job scenario in Kashmir valley .
From Hotels to Houseboats, Rickshaws to Restaurants, Agriculture to Street vendors all sectors have been badly dented posy Pahalgam tragedy that has undoubtedly dented holistic picture.
Overall, the hope on ground zero is that Kashmir will regain its lost glory and enemies of peace and prosperity would be crushed.
