The World Travel and Tourism Council (WTTC) has forecasted that total contribution of travel and tourism sector to Bangladesh GDP will rise by 7.9% in the 2014.
“The total contribution of travel and tourism to GDP was Tk460.3bn (4.4% of GDP) in 2013 and is forecast to rise by 7.9% in 2014 and to rise by 6.5% annually to Tk935.5 billion (4.7% of GDP) in 2024,” WTTC said in its recently published Bangladesh Economic Impact Report 2014, reports BSS.
In 2013, the report said, Bangladesh travel and tourism sector directly supported 13,28,500 jobs that is 1.8% of total employment and it is expected to rise by 4% in 2014.
In Bangladesh, travel and tourism investment in 2013 was Tk40.5bn that is 1.5% of total investment, it said, adding that the investment should rise by 3.4% in 2014.
The report said expenditure by foreign visitors are expected to grow by 7% in 2014 to Tk8.9bn and rise by 5.7% per annum to Tk15.5bn in 2024.
The Leisure travel spending by both foreign and domestic tourists generated 73% of direct travel and tourism GDP in 2013 in amount Tk276.9bn that is 26.9% more compared with business travel spending of Tk102bn in the same period. Leisure travel spending is expected to grow by 6.5% in 2014, it added.
The report said business travel spending is expected to grow by 8.6% in 2014 to Tk110.7bn and rise by 5.5% per year to Tk188.4bn in 2024.
