Well and Woes of Tourism Promotion in Bangladesh: Investment Perspective

Abstract

Bangladesh has huge prospects for both foreign and local investors. However, the core objective of this research is to find out the well and woes of Tourism Investment to enhance the continuous growth of tourism sector. The methodology of this study is qualitative in nature. Primary data was collected from direct interview of 120 tourism stakeholders from private and public sector based on some relevant variables like tourism potential, current tourism investment trend, investment opportunities as well as possible barriers to invest following a focus group discussion comprising of fifteen industry experts having a vast knowledge of Bangladesh tourism and investment policy. Additionally, the secondary data were collected from different journals, dailies, websites (government and non-government), reports and international comments. Therefore, the research has found out that currently the investment is insufficient to make Bangladesh a priority tourism destination. On the contrary, there are huge options to invest in marketing, management and development of amenities in the world’s largest mangrove forest, longest sea beach, Shat Gambuj Mosque, Paharpur and many more attractions to increase tourist flow which will eventually enhance national economy. The challenges are lack of integration among the service providers and concerned authorities. In a nutshell, tourism investment is very crucial in Bangladesh in contrast with the neighboring countries. Thus, this research will find a new pavement to emphasize on tourism investment and budget allocation.