Accelerate Prosperity (AP) wishes to invest in start-ups and Small and Growing Businesses (SGBs) working in the adventure tourism sector in Pakistan. In line with its foundational mandate, AP invests in businesses with a particular focus on those that are: run by/for women, have an eco-friendly approach, are tech-enabled, and create employment and income for local communities. AP sits comfortably within the Aga Khan Development Network’s (AKDN) wider tourism promotion work, which seeks to promote entrepreneurial spirit and draw investments into local areas.[1] This study lays the groundwork for propelling growth in one of AP’s priority market segments: adventure tourism.

Aleph Strategies was commissioned by KfW on behalf of Accelerate Prosperity to conduct an adventure tourism market study in Pakistan. Fieldwork was conducted in Gilgit-Baltisna and Khyber-Pukhtunkhwa. Our report contained a consolidated analysis of trends in adventure tourism, a snapshot of the sector in Pakistan, and a summary of potential investment opportunities. Recommendations were provided to help guide AP’s future investment decisions, and to provide AKF with a prioritised set of actions to stimulate social and economic development through the tourism sector.