On May 14, an event was held at a local hotel to commemorate the anniversary of Indian private airline Vistara’s flying operations in Bangladesh.
As the event’s principal guest, State Minister for Civil Aviation and Tourism M. Mahbub Ali was joined by Civil Aviation and Tourism Secretary Mokammel Hossain and Chairman of the Civil Aviation Authority of Bangladesh (CAAB), Air Marshal Mofidur Rahman. In a news statement, the local GSA for Vistara Airlines, the Mass Travel Tours of Rhythm group, announced the expansion of the airline’s commercial operation on the Mumbai-Dhaka-Mumbai route. During the celebration event, the airline also presented awards to the top 25 travel agents. Among others, speakers were the CEO of Vistara-TATA SIA Airlines, Vinod Kannan, the national manager for Bangladesh, Morgan D’souza, and the managing director of the Rhythm group, Sohag Hossain. According to the Internal Monetary Fund’s (IMF) most recent study on the Asia-Pacific region, Bangladesh’s GDP growth rate would surpass that of China in the current fiscal year.
According to the survey, Bangladesh would rank second in Asia-Pacific for GDP growth rate in the next fiscal year, behind only Vietnam, according to UNB.
Bangladesh is anticipated to outperform both China and India in terms of growth in 2024, according to the IMF’s Regional Economic Outlook for Asia and the Pacific, published in May 2023.
Due to demand-management strategies, Bangladesh’s GDP growth rate would drop down to 5.5 percent in 2023. This is still higher than China’s anticipated growth rate of 5.2 percent.
However, Bangladesh’s economy is far smaller than China’s.
According to the IMF report, Bangladesh’s recently approved Extended Fund Facility will aid in addressing economic difficulties brought on by Russia’s conflict in Ukraine, and the Resilience and Sustainability Facility arrangement will increase the available fiscal space for financing climate investment priorities and enhancing resilience against long-term climate risks.
The research emphasizes the value of global collaboration, especially in obtaining funding for climate change adaptation in the region’s most vulnerable developing economies, such as Bangladesh and the Pacific Islands.