Accelerate Prosperity (AP) aims to invest in adventure tourism start-ups and small businesses in Pakistan, focusing on women-led, eco-friendly, tech-enabled enterprises that generate local employment. As part of the Aga Khan Development Network’s tourism efforts, AP seeks to drive growth in this key market. Commissioned by KfW on behalf of AP, Aleph conducted a market study in Gilgit-Baltistan and Khyber-Pakhtunkhwa. The report analysed adventure tourism trends, sector opportunities in Pakistan, and investment prospects, providing recommendations to guide AP’s investments and support AKF’s economic development goals.