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Potential Unexplored? Tourism and Economic Growth of Bangladesh

Author

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  • Basharat HOSSAIN

    (International Islamic University Chittagong, Faculty of Economics, Department of Business Administration, Chattagram, Bangladesh)

  • Syed Naimul WADOOD

    (University of Dhaka, Department of Economics, Dhaka, 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 socio-economic development of Bangladesh.

Suggested Citation

  • Basharat HOSSAIN & Syed Naimul WADOOD, 2020. "Potential Unexplored? Tourism and Economic Growth of Bangladesh," Journal of Tourismology, Istanbul University, Faculty of Economics, vol. 6(1), pages 63-77, June.
    • Handle: RePEc:ist:iupjot:v:6:y:2020:i:1:p:63-77
    DOI: 10.26650/jot.2020.6.1.0031
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    References listed on IDEAS

    as
    1. Muhammad Mahboob Ali & Rehana Parvin, 2010. "Strategic Management of Tourism Sector in Bangladesh to raise Gross Domestic Product: An analysis," AIUB Bus Econ Working Paper Series AIUB-BUS-ECON-2010-04, American International University-Bangladesh (AIUB), Office of Research and Publications (ORP), revised Jul 2010.
    2. Peter Josef Stauvermann & Ronald Ravinesh Kumar & Syed Jawad Hussain Shahzad & Nikeel N. Kumar, 2018. "Effect of tourism on economic growth of Sri Lanka: accounting for capital per worker, exchange rate and structural breaks," Economic Change and Restructuring, Springer, vol. 51(1), pages 49-68, February.
    3. Anowar Hossain BHUIYAN & Abud DARDA, 2018. "Prospects and Potentials of Halal Tourism Development in Bangladesh," Journal of Tourismology, Istanbul University, Faculty of Economics, vol. 4(2), pages 93-106, December.
    4. Sanjay Chandra Roy & Mallika Roy, 2015. "Tourism in Bangladesh: Present Status and Future Prospects," International Journal of Management Science and Business Administration, Inovatus Services Ltd., vol. 1(8), pages 53-61, July.
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    Cited by:

    1. Zheng, Chengting & Wu, Shufang & Teng, Yin-Pei & Wu, Shuzhao & Wang, Zhe, 2023. "Natural resources, tourism resources and economic growth: A new direction to natural resources perspective and investment," Resources Policy, Elsevier, vol. 86(PB).

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