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DIU-JOURNAL OF BUSINESS AND ENTREPRENEURSHIP

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Paper Title
Impact of Tourism on the Economic Growth of Bangladesh: Challenges and Ways Forward

Authors

Siddiqur Rahman, Md. Mehedi Hasan Sawon, Farhana Yeasmin Lina, Sunny Saha

Abstract

This study investigates the tourism industry’s impact on Bangladesh’s economicgrowth. It analyzes Bangladesh's tourism revenues from 2009 to 2021, sourced from theBangladesh Economic Review and World Tourism Outlook. Data includes tourism revenues andtheir contribution to GNP. The analysis employs thematic methods to examine the relationshipbetween tourism and economic growth. This study identifies the current state of tourism and itssignificant contributions to the national economy. The study reveals that the tourism sector is acatalyst for economic growth, creating employment opportunities, promoting cultural exchange,and boosting local businesses. However, the sector faces challenges such as inadequateinfrastructure, limited marketing initiatives, safety and security concerns, and airline relatedissues. To address these challenges and to accelerate economic growth thereby, the government ofBangladesh should implement context-specific strategies. This research proposes strategicinterventions and policy recommendations, including initiating tourism based long-term vision,exploring more captivating tourist spots, upgrading tourism websites, creating employmentopportunities, promoting evidence-based tourism education, enhancing BPC sponsorship,investing more in the tourism infrastructure development, and promoting festival-based tourism.All these strategies will help Bangladesh overcome the challenges impeding the positive impact oftourism on economic growth.

Keywords

Tourism, Economy Growth, Gross National Product (GNP), Challenges, Ways Forward

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