Probably one of the best signs of economic progress in a country comes studying the travel trends. When more people are able to afford vacations, you know they’re doing better financially. Emerging countries drives the bulk of the growth in global travel and tourism and Bangladesh is one of the key players in that group. The national GDP has been increasing at over 6% per annum over the last decade or so. At present, the GDP per capita stands at over $ 1200, and Bangladesh is fast approaching classification as a middle income country.
“Statistics and reasonable estimates suggest that there are more than 1.5 million people in the capital city who fall under the annual income bracket of $10,000 to $15,000. The number of people with greater than Tk, 10 million wealth has been reported at 35,000 plus, the real number could be much larger.” - Kashef Rahman, Founder and CEO, TBBD
According to a survey in 2009, the number of outbound tourists was 2.25 million approximately and over the years it has grown further, this is because the increase in outbound tourism is directly proportionate to the increase in the income of an individual. Moreover, the rise can be further justified by the increase in promotional offers made for such travel and the competitive market where other travel agencies are also rigorously promoting outbound tourism in form of packages and discounts. With this in mind, we decided to sit down with the good folks at Travel Booking BD, to talk about the trends in travel in Bangladesh.
Travel Booking BD (TBBD) is specialised in exclusive travel services for independent travellers, family members and groups. The company’s goal is to provide the best levels of service throughout the South Asia & Asia Pacific travel industry, be it with planning the tour or cost estimations, hotels suggestions and bookings, transport options, tourism information, sightseeing, shopping, guided tour, special interest tours, air, bus and rail tickets bookings. The company’s extensive tour plans have been researched and developed by overseas travel partners experienced travel professionals and bring a wide range of options and tour itineraries to the most discerning traveller/tourist/holiday maker.
ASEAN nations and countries in the Asia Pacific are gaining popularity, but 80% of all our travel queries are still about Bangkok
How has travel changed in recent years?
The travel industry is a booming industry for sure for the Bangladeshi market, mainly because the current young generation has more disposable income. There are two related reasons for this, aside from the obvious. Land and real-estate prices are extremely high in Dhaka, and other major cities in the country, and it’s really hard for most people to buy a decent plot of land, or even own flats. Also, the current generation doesn’t share the same opinions regarding property ownership held by their previous generation. They would rather spend their incomes on experiences. All of this means that instead of spending it all on food and shopping, people are now saving up for trips abroad.
What is the typical TBBD client like?
The travel market is separated into two categories: business and leisure. The market is further divided between domestic and international travel. The leisure travellers are mainly of three types (which aren’t mutually exclusive).
* The voyagers – usually high income earners, focused on adventure, special interests, rest and relaxation, honeymoons and/or sightseeing
* The budget conscious – these are the ones emphasising on deals and discounts
* Families, students, groups with mutual affinity, and seniors – these usually involve group plans
The travel decisions and type of travel are influenced by lifestyle, age and disposable income. Luxury travellers make purchase decisions based on their desire to combine many interests with vacation time. TBBD emphasises on high-income travellers particularly interested in special-interest, rest and relaxation, honeymoons and sight-seeing trips. These may include families, groups with mutual interest and/or seniors. When combined, they form a very significant, lucrative market from which they draw potential clients.
What can we expect from TBBD this year?
- Best market rates
- Customised travel packages (travel curator)
- Unique and interesting travel products - strong customer support team
- Strong footsteps in social media and innovative way to reach potential clients
- TBBD is still trying to change the perception of the typical traditional travel agency of the BD market . We are trying to encourage our clients book from online platforms