Degree

Master of Business Administration Executive

Faculty / School

School of Business Studies (SBS)

Department

Department of Management

Year of Award

2023

Advisor/Supervisor

Kanza Sohail, Lecturer, Department of Management

Project Type

MBA Executive Research Project

Access Type

Restricted Access

Executive Summary

Leisure travel has become a popular trend in Pakistan over the past few years. With an increasing number of people indulging in leisure travel, the demand for affordable travel packages has also increased. However, one of the major challenges faced by travelers is the inability to save up for leisure travel due to financial constraints. In this context, the present study aims to identify the factors influencing leisure savings for tourism in Pakistan, understand the challenges faced by a leisure travel savings business and propose a business model, and perform a financial feasibility study to gauge the profitability of the model. The study aims to contribute to the existing literature on the leisure travel industry and provide insights for entrepreneurs and policymakers to promote tourism in Pakistan. To achieve the aforementioned goals, The study is responsive to the following research question: What business model should be adopted for creating a startup to facilitate the people of Pakistan for tourism leisure savings? The study focuses on three primary objectives. Firstly, it aims to identify the factors that influence leisure savings for tourism in Pakistan. Secondly, the study aims to understand the challenges faced by a leisure travel savings business and propose a business model that caters to the needs of travelers. Finally, the study aims to conduct a financial feasibility study to evaluate the profitability of the proposed business model. By achieving these objectives, the study aims to provide insights for entrepreneurs and policymakers to promote tourism in Pakistan and enhance the overall travel experience of the people. The present study employs a mixed-method research approach to achieve its research objectives. The research methodology includes both qualitative and quantitative data collection techniques. The initial step involves conducting a thorough review of the existing literature on the leisure travel industry, the factors that influence leisure savings, and the challenges faced by a leisure travel savings business. Next, a questionnaire survey is administered to a purposive sample of residents of Karachi, Pakistan. The data collected from the survey is being analyzed using logistic regression analysis to identify the factors that influence leisure savings. In addition, subject matter expert interviews are being conducted by analyzing the costs and revenues associated with the proposed business model. Overall, the research methodology is designed to provide a comprehensive understanding of the leisure travel industry in Pakistan and to propose a viable business model to facilitate leisure savings for tourism in the country. The study's findings suggest that several factors influence leisure savings for tourism x in Pakistan, including income, age, and education level. In addition, the study identified several challenges faced by a leisure travel savings business in Pakistan, including the lack of financial literacy and trust in such businesses. Based on the survey and expert interviews, a business model was proposed that includes a user-friendly app and website, educational resources on financial planning, and a transparent system for savings and payments. The financial feasibility study revealed that the proposed business model is financially viable, with a positive net present value and internal rate of return. Overall, the study's findings provide insights for entrepreneurs and policymakers to promote tourism in Pakistan by addressing the financial barriers faced by travelers and enhancing their overall travel experience.

Pages

210

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