The economy in Bangladesh is rapidly growing – so much so that it has been termed as one of the most promising emerging markets. But which sectors are booming the most and where in Bangladesh can we see the impact?
The United Nations (UN) predicts that Dhaka will be home to 20 million people in the next 10 years. Although the rest of the world is also witnessing mass migration and population booms, Dhaka is perhaps the fastest urbanizing city. Facilitating the impressive change in pace is RAJUK, the capital development authority of Bangladesh, which has a detailed structure for planned growth.
Jamuna Future Park is Bangladesh’s pride and joy; the eleventh largest mall in the world, this shopping mall is located in the heart of Dhaka. Boasting record breaking figures, Jamuna Future Park mall is situated in Bashundhara Residential Area, boosting the area’s prestige and attraction exponentially. With the prospective Purbachal New Town project under way and Bashundhara Residential area becoming known as a mini Vatican City, the real estate industry in Bangladesh is constantly developing. It is understandable why Bangladesh’s growing economy has recently been compared to China’s.
The real estate sector is skyrocketing. As cities expand to their limits, the land outside the city centers is rising in value, because real estate developers attempting to acquire them. As more people look to invest in these areas, there is still space for further growth, especially in the rental market. Chittagong is a particular area where the economy is evidently improving, given the potential completion of a monumental skyscraper.
Rising Job Opportunities
Green jobs are becoming increasingly popular in Bangladesh. In 10 years, the use of 25,000 solar panels has developed into the installation of 2.8 million photo-voltaic systems, at a rate of 80,000 a month. This emphasizes the gap in the market that is yet to be filled. The increase in green technology has created almost 200,000 jobs from assembling solar panels to marketing them. Consequently, Bangladesh is closing in on India, where over 400,000 people are employed in green energy jobs.
These incredible economic boosts are bound to draw foreign investors as the nation provides numerous lucrative opportunities for investment.