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BD to become a trillion dollar economy: BCG

SoulSpokesman

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Bangladesh is on course to become a $1 trillion economy by 2040, driven by consumer optimism, innovation in emerging economic sectors and a young engaged workforce, according to Boston Consulting Group.

With average annual growth of 6.4% between 2016 and 2021, the South Asian nation has outpaced peers such as India, Indonesia, Vietnam, the Philippines and Thailand, BCG wrote in a report released on Friday.

Bangladesh’s domestic consumer market is set to become the ninth-largest in the world. And a rapidly expanding middle and affluent class is projected to rise substantially between 2020 and 2025, the report said, with a robust gig economy propping up a workforce where the median age is just 28.

“The country could have easily been overshadowed by its neighbor to the northeast -- China -- or its continental cousin to the west -- India -- but in this region of economic powerhouses, Bangladesh stands tall,” BCG wrote.

Bangladesh progressed from a low-income to lower-middle-income country in 2015. Though that’s five years later than India, Bangladesh’s GDP per capita is already higher than its neighbor. The nation aims to become an upper-middle-income country by 2031.

Some challenges remain. Recent issues with liquidity, as well as foreign exchange and inflationary pressures, may slow growth in the short term, according to BCG. But Bangladesh has taken measures to position its $416 billion economy for a lucrative few decades, so long as it maintains an average growth rate of about 5%.

In a BCG survey analysis, 57% of respondents “continue to believe the next generation would have better lives than themselves, especially as the country transitions to a skill-based economy.”

“Though the economy faces some near-term volatility, we are confident that this highly resilient economy will continue to demonstrate robust growth in the long term,” the report said.

Regards
 

BananaRepublicUK

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Bangladesh is on course to become a $1 trillion economy by 2040, driven by consumer optimism, innovation in emerging economic sectors and a young engaged workforce, according to Boston Consulting Group.

With average annual growth of 6.4% between 2016 and 2021, the South Asian nation has outpaced peers such as India, Indonesia, Vietnam, the Philippines and Thailand, BCG wrote in a report released on Friday.

Bangladesh’s domestic consumer market is set to become the ninth-largest in the world. And a rapidly expanding middle and affluent class is projected to rise substantially between 2020 and 2025, the report said, with a robust gig economy propping up a workforce where the median age is just 28.

“The country could have easily been overshadowed by its neighbor to the northeast -- China -- or its continental cousin to the west -- India -- but in this region of economic powerhouses, Bangladesh stands tall,” BCG wrote.

Bangladesh progressed from a low-income to lower-middle-income country in 2015. Though that’s five years later than India, Bangladesh’s GDP per capita is already higher than its neighbor. The nation aims to become an upper-middle-income country by 2031.

Some challenges remain. Recent issues with liquidity, as well as foreign exchange and inflationary pressures, may slow growth in the short term, according to BCG. But Bangladesh has taken measures to position its $416 billion economy for a lucrative few decades, so long as it maintains an average growth rate of about 5%.

In a BCG survey analysis, 57% of respondents “continue to believe the next generation would have better lives than themselves, especially as the country transitions to a skill-based economy.”

“Though the economy faces some near-term volatility, we are confident that this highly resilient economy will continue to demonstrate robust growth in the long term,” the report said.

Regards

BNP trolls will not like it 🤣
 

Bilal9

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Another survey - another load of hogwash. Just to keep the current desperate Hasina status quo.

How much did Modi and Hasina contribute to the BCG coffers for this load of hooey?

Nice entertainment with my morning Moroccan Mint Chai. Thanks for the laughs.
 

BananaRepublicUK

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Your threads on BD development is ten times more overblown.

Especially your boasts about BD products over Indian products.

You are a man of extreme contradictions.

And we all know why 🤣🤣🤣
 

Bilal9

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Your threads on BD development is ten times more overblown.

Especially your boasts about BD products over Indian products.

You are a man of extreme contradictions.

And we all know why 🤣🤣🤣

I have you ignored - as with all other diehard BAL supporters and India-shills, but we can converse sensibly and logically. This is also meant for other patriots in the Bangladeshi forum.

BD Products are produced not by BAL supporters or Hasina. They are produced by mehnati people in this country and businesspeople who DO NOT want to become Indian slaves.

Politics is one thing, but learn to support your own business people and mehnati workers. If your flag indeed says what it says.

Being a BAL supporter yourself and other people of your ilk are essentially de-facto supporters of Indian Banyas and their imported products, not of the working mehnati people of Bangladesh. Only Indian false-flaggers and Sanghis push these agendas of supporting Indian imports in Bangladesh.

I come from a business family, my interest is developing my own country by providing jobs with good wages and the stories I publish all involve my businesspeople friends and acquaintances in the various chambers in larger cities. These people are the ones that give locals jobs, Hindu or Muslim does not matter.

BAL only knows how to support import of Indian products and never supports the development of our own industry. The reason our industry has not developed is at least largely due to our dependence of Indian products which we allow almost tariff-free in our country. Which is largely the work of India-friendly BAL ministers.

Indian products consist of the lions' share of our imports, which could easily be substituted by local products. But this cannot happen unless Govt. Tariff support occurs, which is impossible because our current BAL appointed commerce minister Tipu Munshi is a de-facto Indian agent supported by Hasina who is also an India order-taker. Anytime Indians want to export anything to Bangladesh, they call Tipu and he conveniently reduces tariff of that product to near zero. Indian Banya wins - and our industry and businesspeople lose. In the end - Bangladeshi ruti and rooji is compromised. We shoot ourselves in our own foot to help develop India and Indian businesses. This cannot continue.

If we all keep consuming Indian products (thanks to BAL policies) then we will never develop our own industry and we will keep being dependent on India. This is not India's fault, it is BAL's fault.

To come to your statement - most of the industrial developments that have taken place locally are at the behest of local businesspeople and their investments. That is what I publish.

BAL has zero to do with creating jobs in Bangladesh, other than taking bribes from local businesspeople. They are nothing better than leeches.

All BAL does is being a hindrance on every productive entity in this country. Thek dia poisha nai - like a common street mugger.

@Nergal bhai your take on this please...
 
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BananaRepublicUK

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I have you ignored - as with all other diehard BAL supporters and India-shills, but we can converse sensibly.

BD Products are produced not by BAL supporters or Hasina. They are produced by mehnati people in this country and businesspeople who DO NOT want to become Indian slaves.

Politics is one thing, but learn to support your won business people and mehnati workers.

Being a BAL supporter yourself and other people of your ilk are essentially de-facto supporters of Indian Banyas and their imported products, not of the working mehnati people of Bangladesh. Only Indian false-flaggers and Sanghis push these agendas of supporting Indian imports in Bangladesh.

I come from a business family, my interest is developing my own country by providing jobs with good wages and the stories I publish all involve my businesspeople friends and acquaintances in the various chambers in larger cities. These people are the ones that give locals jobs, Hindu or Muslim does not matter.

BAL only knows how to support import of Indian products and never supports the development of our own industry. The reason our industry has not developed is at least largely due to our dependence of Indian products which we allow almost tariff-free in our country. Which is largely the work of India-friendly BAL ministers.

Indian products consist of the lions' share of our imports, which could easily be substituted by local products. But this cannot happen unless Govt. Tariff support occurs, which is impossible because or current commerce minister Tipu Munshi is a de-facto Indian agent supported by Hasina who is also an India order-taker. Anytime Indians want to export anything to Bangladesh, Tipu conveniently reduces tariff of that product to near zero. Banya wins - and our industry and businesspeople lose.

If we all keep consuming Indian products (thanks to BAL policies) then we will never develop our own industry and we will keep being dependent on India.

To come to your statement - most of the industrial developments that have taken place locally are at the behest of local businesspeople and their investments. That is what I publish.

BAL has zero to with this, other than taking bribes from local businesspeople. They are nothing better than leeches.

All BAL does is being a hindrance on every productive entity in this country. Thek dia poisha nai - like a common street mugger.

@Nergal bhai your take on this please...

If BAL’s presence is inconsequential then why are you so desperate to remove it 🤣🤣

And why didn’t the BD economy grow under BNP or JP?

Why couldn’t Major Zia and Ershad build bridges over Padma or Jamuna?

Hasina is the first leader to connect the entire country by road. THAT IS HER LEGACY!

@UKBengali
@EasyNow
 

Nergal

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I have you ignored - as with all other diehard BAL supporters and India-shills, but we can converse sensibly and logically. This is also meant for other patriots in the Bangladeshi forum.

BD Products are produced not by BAL supporters or Hasina. They are produced by mehnati people in this country and businesspeople who DO NOT want to become Indian slaves.

Politics is one thing, but learn to support your own business people and mehnati workers. If your flag indeed says what it says.

Being a BAL supporter yourself and other people of your ilk are essentially de-facto supporters of Indian Banyas and their imported products, not of the working mehnati people of Bangladesh. Only Indian false-flaggers and Sanghis push these agendas of supporting Indian imports in Bangladesh.

I come from a business family, my interest is developing my own country by providing jobs with good wages and the stories I publish all involve my businesspeople friends and acquaintances in the various chambers in larger cities. These people are the ones that give locals jobs, Hindu or Muslim does not matter.

BAL only knows how to support import of Indian products and never supports the development of our own industry. The reason our industry has not developed is at least largely due to our dependence of Indian products which we allow almost tariff-free in our country. Which is largely the work of India-friendly BAL ministers.

Indian products consist of the lions' share of our imports, which could easily be substituted by local products. But this cannot happen unless Govt. Tariff support occurs, which is impossible because our current BAL appointed commerce minister Tipu Munshi is a de-facto Indian agent supported by Hasina who is also an India order-taker. Anytime Indians want to export anything to Bangladesh, they call Tipu and he conveniently reduces tariff of that product to near zero. Indian Banya wins - and our industry and businesspeople lose. In the end - their ruti and rooji is compromised.

If we all keep consuming Indian products (thanks to BAL policies) then we will never develop our own industry and we will keep being dependent on India. This is not India's fault, it is BAL's fault.

To come to your statement - most of the industrial developments that have taken place locally are at the behest of local businesspeople and their investments. That is what I publish.

BAL has zero to with this, other than taking bribes from local businesspeople. They are nothing better than leeches.

All BAL does is being a hindrance on every productive entity in this country. Thek dia poisha nai - like a common street mugger.

@Nergal bhai your take on this please...
@Bilal9 Bhai , master piece from you! Honestly I am rating it as comment of the month!

In Bengali it's called "Mukhe Jhama ghoshe deya"!

I whole heartedly agree!:cheers:

If BAL’s presence is inconsequential then why are you so desperate to remove it 🤣🤣

And why didn’t the BD economy grow under BNP or JP?

Why couldn’t Major Zia and Ershad build bridges over Padma or Jamuna?

Hasina is the first leader to connect the entire country by road. THAT IS HER LEGACY!

@UKBengali
@EasyNow
Watch this full talk show. At some point he speaks about sustainable development!

You can call him another raw agent like Pinaky Bhattacharya , or can call him as dangerous as suicide bomber terrorist !

 
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Bilal9

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If BAL’s presence is inconsequential then why are you so desperate to remove it 🤣🤣

And why didn’t the BD economy grow under BNP or JP?

Why couldn’t Major Zia and Ershad build bridges over Padma or Jamuna?

Hasina is the first leader to connect the entire country by road. THAT IS HER LEGACY!

@UKBengali
@EasyNow

Bridge ar infra korey luv hoisey shudhu Hasinar. You think she's doing these infra projects to HELP BANGLADESH ??

The bridge was mainly built to conduct "Obadhey Taka churir Mohotshob" and to help Kolkata connect to the NE states through Bangladesh. Everyone knows this.

Loot-pater taka bhagabhagi with other AL stalwarts. The bridge cost double or more of what comparable bridges cost in India. Google it.

Okaroney bridge nia lompho-jhompho. Come back in ten years and tell me how the bridge helped the economy in the southern division areas.

Propaganda does not mean everything is real.

By the way - don't label me a BNP and JP supporter.

I am against Looters and Chaurs of all stripes.
 

ARMalik

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Congratulations to BD for this rapid economic development, clearly vindicating their struggle and just cause to gain independence from the Corruption Ridden West Pakistani Generals, who are now killing Pakistani people in broad day light, and conducting massive human rights violations.
 
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EasyNow

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Congratulations to BD for this rapid economic development, clearly vindicating their struggle and just cause to gain independence from the Corruption Ridden East Pakistani Generals, who are now killing Pakistani people in broad day light, and conducting massive human rights violations.

#West Pakistani Generals
 
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