ECONOMIC AND TOURISM DEVELOPMENT UNDER THE BELT AND ROAD INITIATIVE: A LOCAL STAKEHOLDER PERSPECTIVE FROM GILGIT-BALTISTAN, PAKISTAN

Abstract

The primary objectives of the Belt and Road Initiative (BRI) are to enhance connectivity, advance infrastructure development, facilitate trade, and foster people-to-people connectivity to promote inclusive development in partner countries. Infrastructure projects under the BRI have enhanced tourism and economic activities in partner countries. Therefore, the current research explores the role of the BRI in tourism and economic development in Gilgit-Baltistan from the stakeholders' perspective. Therefore, to achieve the objective of the study, we employed the Partial Least Square Method (PLS-SEM), and the data were processed using Smart PLS-4 software. Primary data were collected using a self-administered questionnaire in the study area. The results reveal that the BRI has a significant and positive effect on tourism development in Gilgit-Baltistan. On the same note, the results of the study show that the BRI has a significant and positive effect on the economy.