Over 11 lakh new jobs created in hotels, restaurants in 11 years
The number of hotels and restaurants surged to around 4.36 lakh in 2021 from 2.75 lakh in 2010
Some 11.68 lakh jobs have been created in hotels and restaurants across the country over the past 11 years, according to the Bangladesh Bureau of Statistics (BBS).
The number of people in the service sector was 9.04 lakh in 2010 which jumped to 20.70 lakh in 2021, according to the latest sectoral survey report released Monday.
The previous edition of the survey was carried out in 2010. Earlier, the BBS conducted the survey in 2003 and 1993 to provide a comprehensive understanding of the sector.
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The latest survey said the number of hotels and restaurants surged to 4,36,274 in 2021 from 2,75,324 in 2010. The annual value-addition of the sector also increased by 223% to Tk38,703 crore.
However, the contribution of the service sector to GDP reduced to 1.10% from 1.50% over the period.
The survey was conducted on 6,734 hotels and restaurants in the country on the basis of random selection in March and April of last year. It used data from the 2013 Economic Census and the 2019 Business Directory.
"The survey was intended to find out how many hotels and restaurants has increased in the country over the period and how much value from this sector has been added to the GDP," Akhter Hossain, BBS regional director for Mymensingh who served as the focal point of the survey, told The Business Standard.
Operating costs rising
The hotel and restaurant sector generated Tk35,159 crore in revenue in FY2010 and had a net value addition of Tk23,173 crores – about 34% of the revenue.
The net value addition, however, dropped 1.2 percentage points to 32.80% last year, which means the operating costs rose.
According to the latest survey, staffers working in the sector are now getting an average salary of Tk1,51,710 per annum, up by 284% from Tk39,560.
Earlier, the sector used to spend 10.17% of the total revenue on wages, which is now 26.64%.
A discrepancy with provisional report
The value addition in the hotel and restaurant sector rose to Tk87,926.8 crore, the provisional report of the survey revealed last June claimed. However, in the final report, this figure has come down to Tk38,703 crore – a 56% fall.
Furthermore, the final report showed 10% fewer jobs in the sector than the preliminary findings.
