Tourism Industry

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European Journal of Business and Management ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online) Vol 3, No.3

www.iiste.org

An Appraisal of Tourism Industry Development in Bangladesh

Md. Kashedul Wahab Tuhin (First Author) Lecturer, Department of Marketing Comilla University, Comilla, Bangladesh. Email: kashedul@gmail.com, Phone: +8801713230379 Md. Tofael Hossain Majumder (Corresponding Author) Lecturer, Department of Accounting and Information Systems Comilla University, Comilla, Bangladesh. Email: tofael_cou@yahoo.com, Phone: +8801816436176 Abstract Tourism has considered as the world’s largest and rapid growing industry of modern business world. It has a vital influence on economic development of a country. Bangladesh is a new tourist destination on the map of the world. Bangladesh has enormous potential to develop tourism because of its attractive natural beauty and rich cultural heritage. Tourism can add value in the Bangladeshi economy if proper marketing plan and strategy can be built and implemented for this purpose. However, this industry fails to reach its destination due to adequate marketing practices. This paper aims to show the present scenario of tourism industry in Bangladesh, identifies the constraints, and suggests remedial measures accordingly. The study also suggests that government should formulate a ‘tourism policy’ immediately for the development of this industry. Both public and private level investment is required in the tourism sector and regional cooperation can bring benefits for Bangladesh. Keywords: Tourism, Tourism industry, Tourist, Tourism Product. 1. Introduction Tourism has considered as the world’s largest and rapid growing industry of modern business world. Today tourism is the most advantageous and up-to-date business all over the world. It has become one of the major international trade categories. International tourism ranks fourth after fuels, chemicals and automotive products in terms of generation of export income. For many developing countries, it is one of the main income sources and the number one export category, creating much needed employment and opportunities for development. Tourism is essential for many countries due to its capacity to generate income through the consumption of goods and services by visitors and tourists, the taxes levied on businesses in the tourism industry and the employment opportunity for the service industries linked with tourism. These service industries include transportation services such as road, air and cruise ships and boats, accommodation such as hotels, motels, restaurants, bars and entertainment venues and other

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European Journal of Business and Management ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online) Vol 3, No.3

www.iiste.org

hospitality industry services such as spas, resorts, etc. According to UNWTO, the top 15 destinations absorbed 98% of all international tourist arrivals in 1950, in 1970 the proportion was 75% and this fell to 57% in 2007, reflecting the emergence of new destinations but many of them in developing countries. Moreover, Bangladesh has archaeological, natural, ecological, cultural and other tourism products to attract tourists. Therefore, Bangladesh has ample opportunity of become as a tourist nation. Tourism, mostly a service industry, is more labor oriented than other sectors of production. Automated and computerized processes may replace human beings in other industries to a great extent, but in the tourism sector the key factor is service, particularly personal service. Therefore, it is clear that the tourism industry offers more employment opportunities than other industries. With the growth of population in the country, the problem of unemployment has become acute. Thus, in view of the fact that Bangladesh has a labor-intensive economy the creation of more employment opportunities is essential. The tourism industry can create employment opportunities and a productive labor force to a greater...
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