Abstract
Travel & Tourism is a developing sector in Bangladesh and it is very imperative to ensure sustainable development goal of Bangladesh and uphold GDP @ 7 %, where Total Travel & Tourism’s contribution share near about 4.7 % of total GDP. It will be a challenging task for Bangladesh to maintain GDP growth more than 7% in the near future but the tourism sector has the potentiality to support GDP growth besides the RMG sector. Bangladesh is a land of river & beauty which has world longest sea beach with UNESCO world heritage Sundarbans. Through the paper, we observe the causality between Travel & Tourism’s contribution to GDP growth & employment in Bangladesh by formulating an econometric model. All analyses have been conducted by vector error correction model and Engle & Ganger test of causality with the yearly data on employment in the tourism sector, visitor export, and capital investment in the tourism sector over the period of 1990 to 2015. Through the analyses, we detect that travel and tourism’s variables together have a long-run significant relationship with GDP growth and employment creation. Our forecast that in future Bangladesh GDP growth and employment growth in tourism will be strengthened through capital investment and visitor export and in coming years Bangladesh GDP growth will be near to 7% whereas in 2016 Bangladesh GDP growth rate was 6.9 % and employment generation growth in tourism sector is also forecasted to be near to 10%.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
