Tourism in Bangladesh: Investment and Development Perspectives

✍ Scribed by Azizul Hassan (editor)

• Publisher: Springer
• Year: 2022
• Tongue: English
• Leaves: 438
• Category: Library

✦ Synopsis

This edited volume uniquely explores the extensive themes and frameworks of tourism development and investment in Bangladesh. The book focuses on outlining the present investment and development scenario of Bangladesh in order to suggest some solutions to current issues. Considering that Bangladesh has a population of over 170 million, the country possesses an abundance of possibilities for tourism. In recent years, Bangladesh has experienced steady growth in its economy and socio-cultural developments. Currently, there is very limited knowledge of or research into tourism in Bangladesh, even though it is a multifaceted and fast-growing industry.

This book makes an important contribution to representing and exploring diverse aspects of tourism in Bangladesh for local and international benefit. This book provides insights into the stronghold of a social class having the ability to spend for tourism and leisure activities, which has prompted the country to pay further attention to the development of its tourism industry. This book emphasizes that the importance of tourism is undeniably on a continuous rise in Bangladesh, which in turn deserves the appropriate attention from academic research.

✦ Table of Contents

Contents
Contributors
Chapter 1: Introduction
References
Part I: Theoretical and Contextual Synopsis
Chapter 2: Investment Decision-Making and Foreign Direct Investment in Tourism and Hospitality: Concepts Exposition and Implications for Bangladesh
Introduction
Investment Decision-Making: General Perspective
Investment Decision-Making: The Tourism and Hospitality Industry Outlooks
Foreign Direct Investment (FDI) and the Tourism and Hospitality Industry
FDI for the Tourism and Hospitality Industry’s Development: Empirical Evidences
Concepts Exposition and Implications for the Tourism and Hospitality Industry in Bangladesh
Conclusion
References
Chapter 3: Theoretical Understanding and Perspective Analysis of Investment and Development in the Tourism and Hospitality Industry in Bangladesh
Introduction
Overview of Tourism Industry in Bangladesh
Investment and Development Perspective Theories in Tourism
Methodology and Objectives
Data Analysis on Present Status of Tourism in Bangladesh
Existing Dodges of Bangladesh Tourism
Shortcomings of Publicity and Marketing Activities
Backward Community
Lack of Training
Limitations in Infrastructural Development for Reinforcing Sustainable Tourism
Lack of Tourism Investments
Lack of Consistent Tourism Policies and Strategies
Lack of Tourism Safety
Investment and Development Strategies in the Tourism Industry
National Strategies
The Pursuit of Sustainable Tourism and Hospitality Management in Bangladesh
Conclusion
References
Part II: The Present Context
Chapter 4: Development and Investment in the Tourism Industry of Bangladesh: Scenario and Prospect Analysis
Introduction
Tourism in Bangladesh
Eco-tourism Products
Archeological Tourism Products
Cultural Tourism Products
Entertaining Tourism Products
Exciting Activity Tourism Products
Historical Tourism Products
Religious Tourism Products
Contemporary Investment and Development Scenario of Tourism in Bangladesh
Bangladesh Parjatan Corporation: Achievements, Challenges, and Limitations
Achievements
Challenges
Limitations
Development and Investment Tourism in Bangladesh: Analysis and Challenges
Tourism Vision 2020
Coercion
Recommendations
Conclusion
References
Chapter 5: Factors Influencing Capital Investment in the Bangladesh Tourism Industry
Introduction
Capital Investment: Some Theoretical Analysis
Capital Investment: The Global Context
Relevant case of capital investment: The Indian tourism industry, Kumaon region of Uttarakhand and Steps Taken to Promote Tourism Capital Investment
Factors That Influences Capital Investment
Capital Investment in the Tourism Industry of Bangladesh
Suggestions to Promote Capital Investment for Tourism in Bangladesh
Conclusion
References
Chapter 6: Tourism as an Element for Economic Growth in Bangladesh: Investment Analysis for Product and Service Development
Introduction
Contribution of Tourism in Economic Growth
Capital Investment in Tourism Products and Services
Tourism Development in Bangladesh
Sustainable Tourism Development of Bangladesh
Researchers’ Assessment of the Tourism Industry in Bangladesh
Policies for Tourism Development
Conclusion
References
Part III: Institutional Involvement
Chapter 7: The Role of Public Agencies in the Tourism and Hospitality Industry Investment and Development in Bangladesh
Introduction
Investment and Development in Tourism and Hospitality Industry of Bangladesh: Role of Public Agencies
Investment and Development Programs of Ministry of Civil Aviation and Tourism
Project’s Section
Investment and Development Perspective
Investment and Development Programs of Bangladesh Parjatan Corporation
BPC Initiated Policies for the Development of Tourism in Bangladesh
Investment and Development Projects for Tourism by BPC
Facility Development at Destinations by BPC
Skilled Manpower Development by BPC
Promotional and Branding Activities by BPC
Investment and Development Programs of Bangladesh Tourism Board
Dedicated Activities of BTB for Tourism Developments in Bangladesh
Investment and Development Programs of Biman Bangladesh Airlines Limited
Major Activities of Biman Bangladesh Airlines Limited for Tourism Promotion of Bangladesh
Overall Activities and Significant Investments
Future Action Plan of Biman Bangladesh Limited
Conclusion
References
Chapter 8: The Role of Banking and Financial Institutions in the Tourism and Hospitality Industry in Bangladesh
Introduction
Understanding Tourism in Bangladesh: A Snapshot
The Present Situation of Banking and Financial Institutions in Bangladesh
Banking Products and Services to Promote Tourism and Hospitality Investment and Development
Conclusion
References
Part IV: Products and Services
Chapter 9: Development and Investment in Core Niche Tourism Products and Services in Bangladesh
Introduction
Apparel Tourism
Medical Tourism in Bangladesh
Beach Tourism in Bangladesh
Agri-Tourism in Bangladesh
Ecotourism in Bangladesh
Conclusion
References
Chapter 10: Investment and Development in Nature-Based Tourism in Bangladesh
Introduction
Importance of Nature-Based Tourism in Bangladesh
Forms of Nature-Based Tourism in Bangladesh
Nature-Based Tourism Development in Bangladesh
Protected Area-Based Tourism
Coastal and Maritime Area-Based Tourism
Impacts of COVID-19 on Nature-Based Tourism
Investment in Nature-Based Tourism in Bangladesh
Investment in Academic and Training Facilities on Nature-Based Tourism
Stakeholders and Institutional Arrangements in Favour of Nature-Based Tourism
Prospects of Nature-Based Tourism in Bangladesh
Challenges in Nature-Based Tourism Development and Investment in Bangladesh
Conclusion
References
Chapter 11: Gastronomic Tourism in Bangladesh: Opportunities and Challenges
Introduction
Background
Food Culture and Culinary Traditions in Bangladesh
Food Tourism: Opportunities and Perspectives
Challenges and Recommendations for Gastronomic Tourism Development in Bangladesh
Authenticity Challenges
Policy Challenges
Awareness Challenges
Food Quality, Hygiene, and Pricing Challenges
Marketing Challenges
Recommendations
Conclusion
References
Chapter 12: Developing Medical Tourism in Bangladesh: Issues, Challenges and Policies
Introduction
Factors Affecting Inbound Medical Tourism
Sub-dimensions of Factors Affecting Inbound Medical Tourism
Proposed Framework to Promote Inbound Medical Tourism in Bangladesh
Conclusion
References
Chapter 13: Medical Tourism in Bangladesh: Issues, Opportunities and Strategic Marketing Plan Model for Growth and Development
Introduction
Present Scenario and Background of the Healthcare Sector in Bangladesh
Medical Tourism and Bangladesh
The Medical Tourism Structure in Bangladesh
Wellness Tourism
Traditional Medicinal Systems
Cosmetic Surgery Tourism (CST)
Advance and Life Savings Healthcare
Rehabilitation
Potential Medical Tourism Product for Bangladesh Tourist Industry
Issues of Medical Tourism in Bangladesh
Marketing Strategy for Medical Tourism
4 Ps’ of Medical Tourism in Bangladesh
Product
Price
Place
Promotion
People
Process
Physical Evidence
Opportunities for Medical Tourism in Bangladesh
SWOT Analysis of Medical Tourism in Bangladesh
Strengths
Weakness
Opportunities
Threats
Investment, Growth, and Development
Conclusion and Recommendation
References
Chapter 14: Investment and Development for Agri-tourism in Bangladesh
Introduction
Definition and Scope of Agri-tourism
Agri-tourism Is a Tourism Offer
Agri-tourism in Bangladesh
Why Agri-tourism in Bangladesh?
Agri-tourism Potentials in Bangladesh, as Supported by the Ministry of Agriculture and Rural Development
Addressing the Issue of Underemployment
Financial Facilities Arrangements
Communication System Facilities Development
Infrastructural Facilities Development
Expansion of Training Facilities
Constraints and Issues for Agri-tourism Promotion in Bangladesh
Marketing Facilities that are Available for Agricultural Products
Middlemen’s Role
Land Scarcity
Education Facilities Development
Lack of Facilities for Credit
Policy Implications for Investment and Development for Agri-tourism in Bangladesh
Conclusion
References
Chapter 15: Agri-tourism in Bangladesh: The Investment and Development Perspective
Introduction
Agri-tourism Definition and Its Effective Roles
Investment on Agri-tourism and Its Return to the Development
Tourism and Development for Developing Economies: A Policy Implication Perspective
Challenges of Agri-tourism in Bangladesh
Poverty
Complex Travel Procedures
Tourism Investment
Lack of Human Resources in the Tourism Industry
Lack of Safety and Security
Run Way of Agri-tourism on Development Process
Funding Practice in Agri-tourism into Green Farming
The Structure of Agri-tourism into Various Indicators
Farming Progresses in Entrepreneurship
Establishing Sustainable Model into Development
The Changes in Nations Development Influenced by Sustainable Agri-tourism
Socio-economic
Cultural
Community Advancement Through Poverty Alleviation
The Environmental Impact
Conclusion and Recommendations
References
Chapter 16: Developing Garments Tourism in Bangladesh: An Overview
Introduction
Conceptual Framework: Tourism, Garments and Investment
Investment and Development in Garments Tourism in Bangladesh
Investment and Development
The Scenario of Garments and Apparels Industry in Bangladesh
Future of Garments and Apparels Tourism
Conclusion with Policy Recommendations
References
Chapter 17: Ecotourism in Bangladesh: Investment and Development Contexts
Introduction
History of Ecotourism
Meaning of Ecotourism
Importance of Ecotourism
Ecotourism and Sustainable Development
Principles of Ecotourism Products
Nature Area Focuses
Interpretation
Environmental Sustainability Practice
Contribution to Conservation
Benefiting Local Communities
Cultural Respect
Customer Satisfaction
Responsible Marketing
Ecotourism in Bangladesh
The Sundarbans
Cox’s Bazar
Kuakata Sea Beach
Chattogram Division
Sylhet
Dhaka
Rajshahi
Issues of Ecotourism in Bangladesh
Recommendations
Conclusion
References
Part V: Facility Offers
Chapter 18: Tourism Industry in Bangladesh: An Assessment of Advanced SWOT Model and TOWS Matrix
Introduction
Literature Review
Natural Setting
Quality of Services
Co-ordination of Factors
Value Chain
Innovation
Managerial Skills
Technology and Tourism
Labor Productivity in Tourism
Methodology
Sample Design
Survey Instrument
Mode of Data Analysis
Qualitative Analysis
Likert Method Analysis with Various Graphs
Descriptive Statistics of the Factors
SWOT Analysis
TOWS Matrix by Using S-O, W-O, S-T, W-T Strategies
Variables that Affect Tourist Satisfaction have been Identified
Tourism and Bangladesh
Major Tourist Destinations in Bangladesh
UNESCO Recognized World Heritage Site of Bangladesh
Distinction of Bangladeshi Tourism
Results and Analysis
Accommodation Facilities
Food Facilities
Transport Facilities
Technological Support
Management
Visa Collection
Immigration Formalities
Strengths
Weakness
Opportunities
Threats
SWOT Analysis
Scoring on Some Factors of Tourism
Descriptive Statistics on the Strengths and Opportunities of Tourism Industry in Bangladesh
TOWS Matrix
Conclusion
References
Chapter 19: Development and Investment Scenario in Tourism Education in Bangladesh
Introduction
The Literary Investment and Development
Development and Investment Scenario of Tourism Education in Bangladesh: Agency Wise Roles
Bangladesh Parjatan Corporation (BPC)
National Hotel and Tourism Training Institute (NHTTI)
Pacific Asia Travel Association (PATA)
Association of Travel Agents of Bangladesh (ATAB)
Public and Private Universities
Ministry of Education, Bangladesh
Ministry of Civil Aviation and Tourism, Bangladesh
Issues Need Attention to Minimize for Investment and Development of Tourism Education in Bangladesh
Conclusion
References
Chapter 20: Investment and Development for Tourism and Hospitality Revenue Collection in Bangladesh
Introduction
Present Scenario
Status of Revenue from Tourism
Financial Investment Details
Governmental Initiatives to Promote Tourism in Bangladesh
Promotion and Marketing
Digital Marketing Campaign
Participation in Foreign Tourism Exhibitions
Bangladesh Premier League 2011
Asian Tourism Fair 2011
Public-Private Partnership (PPP) Projects
Joint Cruise Service
Project with China
Institute for Training on Tourism Management
New Tourist Destinations for Prospective Revenue Collection
Drawbacks of Tourism in Bangladesh
Lack of Tourists from the Western Countries
Lack of Security and Public Safety
Insufficient Local Transports
Lack of Proper Policy
Lack of Adequate Infrastructures
Political Unrest and Decisions
Inactive Worker Unions
The Rohingya Crisis
COVID-19’s Effects on the Industry of Tourism in Bangladesh
Recommendations to Collect More Revenues from the Tourism and Hospitality Industry
Benchmarking with Other Countries
Other Recommendations
Future Possibilities
Conclusion
References
Part VI: Sustainability Practices
Chapter 21: Green Marketing, Investment and Sustainable Development for Green Tourism
Introduction
Methodology
Tourism Places of Bangladesh
Green Tourism
Green Marketing
Green Marketing for Green Tourism
Green Marketing Mix on Tourism
Product
Price
Place
Promotion
Physical Evidence
People
Process
Investment in Green Tourism in Bangladesh
Tourism Developments and Present Status of Tourism in Bangladesh
Green Tourism and Investment Policy in Bangladesh
Sustainable Development
Sustainable Development for Tourism (STD)
Social and Cultural Sustainability
Environmental Sustainability
Economic Sustainability
Linking Green Tourism and Sustainable Development
Driving Forces of Sustainable Tourism Development in Bangladesh
Accommodation
Transportation
Tourism, Taxes, and Economic Development
Infrastructure Development
Political Stability
Achieving Sustainable Development Goals (SDGs)
Resources and Renewable Energy
Employment and Cultural Development
Conclusion and Recommendations
References
Chapter 22: Sustainable Tourism in Bangladesh: The Demand for Investment and Development
Introduction
Scope of Sustainable Tourism
Wildlife and Sustainable Tourism
Relevant Scopes of Sustainable Tourism
Rules and Regulations for Sustainable Tourism
Environment and Sustainable Tourism
Society and Sustainable Tourism
Economic Contribution and Sustainable Tourism
Culture and Sustainable Tourism
Importance of Sustainable Tourism in Bangladesh
Economic Sustainability
Socio-Cultural Sustainability
Environmental Sustainability
Challenges of Sustainable Tourism in Bangladesh
Excessive Use of Energy and CO2 Emission
Excessive Use of Groundwater
Inappropriate Management and Disposal of Waste
Biodiversity Loss and Habitat Degradation
Threats to Cultural Integrity and Heritage Management
Lack of Information Platforms and Communication Channels
Climate Change
Suggestions to Ensure Sustainable Tourism
Using Green Energy
Greening Transportation
Greening Accommodation
Greening Infrastructures
Using Smart Technologies
Conclusion
References
Chapter 23: The Principles and Practices of Sustainable Tourism Investments and Development in Bangladesh
Introduction
Methods and Materials
Development of Sustainable Tourism Concept
Tourism in Bangladesh
Principles of Sustainable Tourism Development in Bangladesh
Practices of Sustainable Tourism in Bangladesh
Sustainability of Livelihood Capital in the Top Destination of Bangladesh
Direction to Sustainable Tourism Development in Bangladesh
Conclusion
References
Part VII: Challenges and the Future
Chapter 24: Investment and Development in Tourism and Hospitality Products and Service Innovations in Bangladesh: Challenges and the Future
Introduction
Present Investment Scenario of the Tourism Industry
Present Development Scenario of the Tourism Industry
Contribution in Economic Development
Contribution to Employment Generation
Future Investment Potentials in the Tourism and Leisure Projects in Bangladesh
Future Trends of Development Policy and Strategy of Tourism in Bangladesh
Development Policy
Challenges for Investment in Tourism in Bangladesh
Budgetary Challenge
Mega Projects
Poverty
Unemployment
Challenges for Development
Poor Bangladesh Image
Missing the Branding
Technical Know-How
Weak Infrastructures
Investment in Travel
Suggestions for a Tourism Investment Scenario
Conclusion
References
Chapter 25: Investment Barriers and Opportunities in the Tourism and Hospitality Industry of Bangladesh
Introduction
Overview of Bangladesh Tourism Industry
Types of Tourism in Bangladesh
Site Tourism
Business Tourism
Office Tourism
Education Tourism
Religious Tourism
Other Tourism Types
Sketch of Bangladesh Hospitality Industry
Investment Barriers in the Bangladeshi Tourism and Hospitality Industry
Unplanned and Improper Growth of the Tourism and Hospitality Industry
Scarcity of Financial Incentives
Dearth of Joint-Venture Partnerships
Lack of Promotional Activities
Lack of Sufficient Security Measures
Lack of Cooperation from Concerned Authorities
Political Disturbances
Departmental Power Exploitation
Investment Opportunities in Bangladesh Tourism and Hospitality Industry
Recommendations for Concerned Authorities to Attract Foreign Investments
Conclusion
References
Conclusion