The impact of economic crisis on tourism industry: Bangladesh perspective

Abstract

The tourism sector is experiencing numerous challenges as a result of the global economic crisis. After a significant contraction in 2009, tourism rebounded strongly in 2010 and in 2011 the international tourist arrivals and receipts are projected to increase substantially. The Tourism industry is expected to show a sustained recovery in 2012. The crisis has a particularly strong impact and slightly negative consequences in Bangladesh. The country is undergoing a political crisis, as well, and it seems that the forthcoming elections may be the only solution for the restoration of stability and social peace.  In addition, tourism can be the driving force behind Bangladesh economic recovery. However, for its achievement, the country’s policymakers should take several measures towards restructuring and improve the sector. These measures include enhancement of alternative forms of tourism; environmental protection; creation of quality infrastructure; and a boost of competitiveness through a tourism product that offers value for money