Market Overview
Major Demographic, Economic & Social FactorsBangladesh is an evolving nation with a highly skilled, educated and motivated workforce. The workforce is mobile and much in demand for the surrounding regional countries in South East Asia and the Middle East. This work force outside Bangladesh plays a vital role in the country's economic growth as the work force invests the income back in Bangladesh. According to Asian Development Bank's financial report on Bangladesh, during July-February fiscal year 2007, the current account of the balance of payments showed a surplus of $484 million, up from the surplus of $423 million in the corresponding period of fiscal year 2006. Robust growth in workers' remittances (27.6%) is contributing to this surplus. This means that the work force has more capital to travel to Bangladesh more often to visit their loved ones, but the airline service in the region remains the same
Market Overview
The government of Bangladesh is actively encouraging expansion and growth in the industry especially from foreign investors as the national airlines, Biman Bangladesh, is at the brink of total collapse. The government of Bangladesh has recently declared the airspace of Bangladesh an open sky for two months. This government policy means that foreign airlines are able to operate as many flights as they wish from Bangladesh. This situation is an outcome of the fact that there is a backlog of about 150,000 Bangladeshis who have secured jobs in South East Asia or the Middle East but there are not enough flights to get them to their destinations. As more and more ex-Bangladeshis travel to Bangladesh today than ever before, the demand of air service in the region will further increase.