Domestic restaurant owners, who number nearly 0.43 million, are expecting to double their trade in the next five years as the government has formally declared the sector an industry.
Industries ministry issued a gazette notification on the National Industrial Policy-2022 on September 29, giving the sector the status of an industry among all 22 industries under the services sector.
Sources said restaurants were expecting a rise in value addition to Tk 1.75 trillion in the next half decade in the sector from the current Tk 879 billion.
Industry insiders have sought time-befitting policies, rules and regulations to make the trade buoyant, and ensure safe food and quality service.
"We're expecting to double the trade in the next five years and treble in a decade with enhancing service quality to global standard," said Bangladesh Restaurant Owners Association (BROA) secretary Imran Hassan.
"We need new policies and rules based on the government's announcement to boost our service quality," he added.
For the industry to flourish, restaurant owners are happy as they will get gas, electricity and water supply as other industries.
"Another positive aspect is that we'll get bank loans at a reasonable interest rate, which will also help minimise prices of products and enhance the working environment," cited Mr Hassan.
Apart from Dhaka and other big cities, he said, high-quality restaurants have also mushroomed in many suburbs and tourist spots.
He said many chain restaurants are also gaining popularity here in line with global trends.
BROA president Osman Gani said the sector has the potential to be a source of manpower for hospitality management.
An estimated 2.1-million people are directly and 10 million indirectly involved in the sector, he added.
"We can make millions of youths prepared for going abroad by training them in hospitality management."
Mr Gani said the number of working people has gradually been increasing in large numbers and they are dependent on restaurants.
The number will further increase remarkably in the coming years following the country's economic boom. "We are now working to take the challenge of the new year."
The number of hotels and restaurants has increased to 0.43 million in fiscal year (FY) from 0.27 million in FY2010, revealed the Hotel and Restaurant Survey-2021 of the Bangladesh Bureau of Statistics. It said 2.28 million are now directly involved in the sector which was 0.94 million a decade back.
Value addition by the sector rose to Tk 879 billion in 2020 from Tk 119 billion in 2010, reads the survey.
Changing dietary habits following an escalation in income has helped the sector grow, it cited.
