State PCS - J & K (KAS)

• 15 Apr 2025

J&K to Develop Tourism Destinations

Why in News? 

Jammu and Kashmir Chief Minister announced that the government plans to develop nine new tourism destinations across the Union Territory.  

• He expressed hope that the World Bank would move beyond its "traditional reluctance" and agree to fund projects in the region. 

 Key Points 

• New Tourism Destinations in Pipeline: 
  • The J&K government has identified nine new tourist destinations for development with assistance from multilateral funding agencies. 
  • These destinations aim to ease tourist pressure on already saturated hotspots like Gulmarg, Pahalgam, and Sonmarg, while also opening up lesser-known areas in Jammu. 
• World Bank Engagement and Investment Outlook: 
  • The World Bank has agreed to fund the preparation of project reports for the nine destinations. 
  • Once the reports are complete, the government plans to approach the same agencies for full-scale funding, aiming to overcome traditional reluctance toward funding in J&K. 
  • The government is targeting an estimated investment of Rs 5,500 crore to build essential infrastructure across these locations. 
• Value-Based Tourism: 
  • The CM emphasized a shift from volume-driven tourism to value-based tourism, focusing on enhanced tourist experiences and higher-quality services. 
  • He underlined the need to improve hotel standards, visitor experiences, and the overall satisfaction of tourists to encourage repeat visits. 

 World Bank 

• About: 
  • It was created in 1944, as the International Bank for Reconstruction and Development (IBRD) along with the IMF. The IBRD later became the World Bank. 
  • The World Bank Group is a unique global partnership of five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. 
  • The World Bank is one of the United Nations' specialized agencies. 
• Members: 
  • It has 189 member countries. 
  • India is also a member country. 
• Major Reports: 
  • Ease of Doing Business (Stopped publishing). 
  • Human Capital Index. 
  • World Development Report. 
• Its Five Development Institutions: 
  • International Bank for Reconstruction and Development (IBRD) 
  • International Development Association (IDA) 
  • International Finance Corporation (IFC). 
  • Multilateral Guarantee Agency (MIGA) 
  • International Centre for the Settlement of Investment Disputes (ICSID) 
    • India is not a member of ICSID.