Analysts reiterate the need for investments in the education
sector
At a recent seminar on “Entrepreneurship development in
Bangladesh” various analysts and researchers stressed the need to produce
higher quality human capital. The poor quality of the current educational
system has become a major concern, as an entrepreneurial culture cannot
flourish without a good educational foundation.
The importance of private investment in education was
highlighted as a lack of public funds appears to be hampering growth in the
education sector. And, in fact, private universities have been on the rise as
demand for education has increased, fueled by increased incomes and limited
places in public universities.
However, in order to benefit from
private investment, a few vital changes to the education system will prove
invaluable. First, entrepreneurship requires innovation, creativity, and
problem solving ability, but these skills are not taught in our education
system, which rewards memorization rather than understanding and critical
thinking. Second, if Bangladesh is to
compete internationally, strong command over the English language is
critical. While formally the university
system is English medium, in practice students continue to function in
Bangla. Third, steps need to be taken to
ensure new and old universities are meeting basic standards in order to
generate quality professionals with the skills needed to contribute to the
economy.
Hartals and the adverse effect on “Beautiful Bangladesh”
The recent spate of violence and shutdowns have affected
businesses across all sectors of the economy but the tourism industry is
affected in ways which are completely different from export businesses. While export businesses have experienced
delays in production or delivery, they are still able collect orders. The fledgling tourism industry, on the other
hand, has seen business dry up.
In addition, tourists have been stranded in key tourist
spots such as Cox’s Bazar , forcing tour operators to provide extra facilities,
which in turn have increased operating costs by up to 20% in some cases.
The tourism industry, already handicapped due to poor
infrastructure will suffer mostly in terms of reduced inbound international
tourists, as the international brand image of Bangladesh is being maligned by
the violence. The “Beautiful Bangladesh”
campaign; focused around creating Points of Differences (PODs) between Brand Bangladesh and other
neighboring tourism spots was perhaps one of the most appreciated promotions of
Bangladesh, touching upon the different experiences one could have solely in
Bangladesh. However, accessing sights such as the Sunderbans requires certainty
that tourists will be able to travel to their destinations. Perhaps it is time
that tour operators look to cash in on increasing disposable income levels and
focus more on outbound tourism.
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