Country’s hotel and restaurant sector is going to post higher growth in the ongoing fiscal year.
Provisional estimation of the national income, released by the Bangladesh Bureau of Statistics (BBS), showed that the sector may post 7.28 per cent growth in FY18 which was 7.13 per cent in the past fiscal year.
The size of the sector is likely to reach at Tk 73.16 billion in the current fiscal year which was Tk 68.20 billion in FY18, according to BBS estimation.
The contribution of the sector is, however, still tinny which is only 0.75 per cent.
The sector is considered as one of the sectors of the overall service sector of the economy which is now 52.18 per cent of the country’s Gross Domestic Products (GDP).
Meanwhile, there are two components of the hotel and restaurant sector. One is accommodation service, another is catering service.
The latest data of the labour force survey showed that some 1.15 million workers are engaged in the accommodation and food service activities in the country.