US Ambassador Richard Olson and Governor Khyber Pakhtunkhwa Shaukatullah Khan on Thursday joined the business owners to celebrate the dramatic economic turnaround of Swat Valley with the support of US Agency for International Development (USAID). Olson said that he was overjoyed to witness that efforts to revive Swat's tourism industry had helped in creating jobs and enhancing income of the Valley's inhabitants.
"In the wake of the conflict and floods that have devastated the area five years ago, in 2010, the US and Pakistan government jointly decided to work for the recovery of Swat Valley's economy on priority basis," he said. He pointed out that historically tourism has been a key economic driver in the Swat Valley and at one time contributed $60 million a year to the local economy. Conflict and the 2010 floods severely damaged hotels and caused significant decline in revenue, he said.
About the Pakistan-US relations, he said that the relationship was the manifestation of the 65-year-along with mutual co-operation in the fields of economy, energy, development, health and education. Olson said that Swat Valley was famous for its natural beauty as well as hospitality.
The Governor of Khyber Pakhtunkhwa said that peace in the valley had been restored with the efforts of "our security forces and the present government as well as will of the people". He also thanked international partners in general and the US in particular for their co-operation for reviving the local businesses activity.
Earlier, the gathering was informed that because of strong partnership between the USAID, the Khyber Pakhtunkhwa (KP) government, the KP Tourism Corporation, and business owners in the region, hotels and fisheries previously damaged by conflicts and floods had increased their sale from $454,000 in 2010 to $4.2 million in 2012, in addition to generating more than 2,000 new jobs.
Fisheries faced similar losses, and to help the economic revival of the region, in 2010, USAID joined the Provincial Reconstruction, Rehabilitation and Settlement Authority to launch a Swat tourism rehabilitation effort. The United States provided $5.4 million to fund the initiative.
USAID provided grants, technical assistance, and in-kind support, such as construction materials, supplies, and equipment to 22 fisheries and 239 hotels - more than half of all hotels in the Swat Valley. Backed by this support, the businesses achieved great success. The hotels now earn eight times more than they did before the project began. The fisheries earn twelve times more after US assistance began. Director Economic Growth USAID Alan L Davis expressed the hope that international tourism entrepreneurs would soon come to Swat Valley.