Investment and Development in Tourism and Hospitality Products and Service Innovations in Bangladesh: Challenges and the Future

Bangladesh has a temperate climate, natural scenery, UNESCO World Heritage Sites (WHS), and a modern democratic culture around it. Besides, the government is taking on some world-class mega-project for the country’s rapid infrastructural growth. Such diversification can be a pull factor to attract international tourists to visit Bangladesh. Tourism in Bangladesh as a competitive industry is contributing to the national economy. Tourism participates continuously in the national Gross Domestic Product (GDP) per year. Tourism spending is very important for the sustainable growth of the economy and infrastructure. The main aim of this research is to identify the opportunities and obstacles behind tourism investment. The study has established several key tourism investment outcomes. Tourism can produce tremendously professional and skilled workers. It is a big economic market, and tourism can be able to earn huge foreign currencies that the country demands now. Lack of constructive attitude, weak promotional identity, poor facilities, and lack of world-class tourism firms are some of the country’s tourism industry problems. To eradicate bad branding identity, massive investment is required worldwide to mark Bangladeshi WHSs and local culture.