Potential Unexplored? Tourism and Economic Growth of Bangladesh

Abstract

This paper examines the potential effects of tourism on the economic growth of Bangladesh. It is a review paper of the literature based on secondary data. This paper discusses various aspects regarding the effects of the tourism industry on the overall economic progress of the country, including real GDP growth, infrastructural development and employment generation. Since the tourism industry has a small share of revenue to the GDP of Bangladesh's economy (at this moment), its contribution to economic growth is limited till now. This paper finds that the current size of the Bangladesh tourism economy is BDT 500 million. Besides, Bangladesh earned USD 1157 million from tourism sector during 2009-2018 period. Each year, 0.55 million tourists (on average) visit Bangladesh in the same period. Moreover, it creates 2.23 million jobs each year. The travel and tourism sector contributes 4.4% of the GDP in each year. Bangladesh's government ensures a lot of facilities for tourists.This article points out a number of issues that need to be considered in the tourism industry to play a more significant role regarding economic growth, and the overall socioeconomic development of Bangladesh.

Ecotourism and Hospitality in Bangladesh: The Application of PESTEL Analysis and Determining the Internal Factors

“…Hossain and Wadood ( 2020 ) explored the potential effects of tourism on the economic growth of Bangladesh based on secondary data. The study represented a general idea of the ecotourism industry of Bangladesh, a detailed idea about tourist spots, tourism administrations and organizations.…”

“… Freshwater Lakes, Wetlands, Rivers, Waterfalls Kaptai lake, Tanguar Haor, Nikli Haor, Hakaluki Haor, Foy’s Lake, Ratargul Swamp Forest, Bichanakandi, Jaflong, Padma River, Meghna River, Karnafuli River, Jamuna River, Shuvolong Falls, Richang Falls, Jadipai and Baklai Fountains, Tinap Satar, Khaiyyachara Falls, Madhavkund Falls Cultural Historical places and monuments, Religious monuments, Archaeological sites Ahsan Manjil, Jatiya Smriti Soudho, Jatiyo Shaheed Minar, Lalbag fort, Huseni Dalan, Natore Rajbari, Muktagacha palace, Curzon Hall, Baitul Mukarrom Mosque, Tara Mosque, Shat Gombuj Mosque, Choto Sona Mosque, Bagha Shahi Mosque, Guthia Mosque, Kantanagar Temple, Adinath Temple, Chandranath Temple, Buddha Dhatu Jadi Pagoda, Ramu Temple, Ukhia Pagoda, Armenian Church, St. Peters Cathedral, The Holy Rosary Cathedral, Mahasthangarh, Somapura Mahavihara, Mainamati, Sonargaon, Wari-Bateshwar. Manmade Urban parks, zoos, Museums, National Institutions Jamburi Park(Chattogram), Horticulture Park(Khagrachaari), Jatiyo Sangshod Bhaban, Central Shaheed Minar, Mouseleum of Father of the Nation Bangabandhu Sheikh Mujibor Rahman(Tungipara, Gopalganj), World War II Cemetery(Chatrogram), Bangladesh National Zoo, Chattogram Zoo and Veterinary Clinic, Comilla Zoo and Botanical Garden, Museum of Zoology(Dhaka), Ethnographical Museum (Chattogram), Varendra Research Museum(Rajshahi), National Museum(Dhaka) Source: Ahmed and Mollah ( 2014 ) and Hossain and Wadood ( 2020 ) …”

“…The primary objective of BPC is to represent Bangladesh as an attractive tourist destination country to the world and in the trademark has been “Beautiful Bangladesh”. The BPC instructs the public and private tourism organizations, assures visa and immigration facilities for foreign tourists and ensure security as well as the safety of the tourists (Hossain and Wadood 2020 ) (Table 9.2 ).…”

Factors affecting tourists’ satisfaction: An empirical study on Rangamati as a tourism destination

“…It creates job opportunities directly & indirectly through providing accommodation, transportation, food services, and also through ensuring the supply of different necessities of tourism businesses (Parveen, 2013). But, the contribution of the tourism industry in the economic progress of Bangladesh is not as satisfactory as like as its neighboring countries like Malaysia, Thailand, Indonesia, India, and China, and this poor performance of contribution of the tourism industry also prevails in the area of employment creation and capital investment (Hossain & Wadood, 2020). They also opine insufficient budget, lack of government supports, poor transport system, moldy infrastructures in remote areas, inadequate amount of research & publications, and inadequate facilities are responsible for this poor performance of the tourism industry in Bangladesh.…”

“…This rate was 11.6% higher than the previous year and it is also a matter of hope that Bangladesh secured 11th position in the list of fastest-growing economies in terms of contribution of the travel & tourism industry to its GDP. A statistical report of (BTB, 2020) portrait that the number of foreign tourist arrival had been increasing gradually for the last four consecutive years as 1, 82,469 in 2016, 2,37,452 in 2017, 2,67,209 in 2018and 3,23,295 in 2019. Hossain & Wadood, (2020 predict the tourism industry as one of the growing industries of Bangladesh that can enhance national income as well as accelerate the economic development of the country.…”