The vibrant tourism industry can be used as a catalyst to achieve socio-economic development of particularly the under-privileged and poor masses in the developing countries. This holds very pertinent and factual in case of Pakistan. One of the key factors affecting the performance and growth of tourism industry is said its human resources. This dissertation evaluates and analyses the tourism industry of Pakistan with main focus on understanding the role and attitudes of the key stakeholders of tourism industry (Student, faculty, Corporation and Government) on the development of tourism human resources. The review of literature suggests that the issue of HR can be better investigated and understood from the perspective key tourism stakeholder through the lens of stakeholder theory approach. A comprehensive analytical and conceptual framework is developed in this study to elucidate how the perceptions and attitudes of key stakeholders affect the development of HR in tourism industry of Pakistan. In methodology a semi structured survey questionnaire was administered to get the data from the tourist students, tourist faculty and tourist corporations. 258 Students, 31 faculty and 18 corporation managers participated and completely filled up the survey questionnaire. In total (307) comprised the sample of this study. The data was empirically analyzed through the applications of descriptive statistics, factor analysis, Granger Causal Test, and independent T test using SPSS software 20. This study found that the availability of trained, skilled and educated human resources is a key driver to the performance of Pakistan tourism industry. With regard to stakeholder approach, the positiveness, competence and resource fullness of students and faculty working at tourist educational institutions are the chief stakeholders in ultimate development of human resources in Pakistan tourism Market (PTM). It is evidenced that tourist students perceptions to join tourism sector worsens as they practically exposed to tourist organizations. This dilution of positive perception is attributed to the poor or lack of effective HR policies from tourist corporations and government. Therefore, it is suggested that tourist corporations and government training and development programs aimed at developing and nurturing human resources and making working environment conducive at tourism organizations. Further, the relationship between tourism and economic growth of Pakistan is found to be bidirectional. Therefore, it is of utmost important that the government should assign special focus on development of tourism sector in order to increase the base of its economic growth and subsequently raise the socio-economic standard of the masses at local, regional and national levels.