Bangladesh travel and tourism industry: An underpenetrated sector

The travel and tour industry of our country has enormous potential due to an increased standard of living of people of our country, developing infrastructures and better facilities available in our country.  

According to a report of World Travel & Tourism Council, the total contribution of this industry to GDP is approximately around 4.3 per cent of GDP and is expected to rise to 4.35 per cent in this year. Not only did it contribute to GDP, but this industry has also impacted employment, both directly and indirectly. Approximately 2.19 million jobs were created in the in this sector during 2016. (The data of 2017 was calculated based on specific expectations.)

Investment plays a significant role in the progress of any industry, and it has been no different in this case as well. Around Tk 72.5 billion had been spent in this sector in 2016 and is expected to be over Tk 80 billion this year.

Outbound travel and tourism dominate over the inbound, and this shows the necessity to speed up the ongoing projects on building hotels, roadways, etc. The following graphs illustrate how the growth of incoming tourism is slower compared to that of outbound one.