Market Research in Bangladesh

Bangladesh is a sovereign country in the south of Asia.

Its neighboring countries are China, Nepal, and Bhutan. The country also shares its land borders with Myanmar and India. The boundary between Bangladesh and India is the 7th longest in the world: 2,582 miles. The southern area of Bangladesh also borders the Bay of Bengal.

Key Industries

Agriculture is the key industry in Bangladesh, and most people work in this sector in one way or another. Farming contributes to one-third of the country’s GDP. Also, the main crops are; tea, tomato, tobacco, rice, pulses, and wheat. This country is a leading supplier of goat milk, goat meat, and raw jute. Furthermore, it produces sugarcane. It also has different kinds and fruit—for example, bananas, pineapples, and mangoes.

Neighborhoods

Dhaka is the capital city of Bangladesh, located north of the Buriganga River. This city is the most populous. In addition, it’s one of the largest cities in South Asia. There are famous buildings in the city of Dhaka. Two examples are Ahsan Manzil and Curzon Hall. The National Parliament House is also well-known.

Chittagong is another neighborhood in Bangladesh, located in the southeast. It’s an affordable, safe place to live, and it’s warm year-round. One of its best features is the fact that it’s not crowded. Its roads are safe, and it’s also safe for women. On the downside, the Internet tends to be slow, and there isn’t much to do in Dhaka,

There’s also the city of Khulna, located in the interior of the country. Like Chittagong, Khulna is affordable and safe, and warm year-round. The big difference between the two cities is that Khulna has lots of fun stuff to do. On the downside, it has terrible air quality and slow Internet.

Trends

The Government of Bangladesh has developed a plan for the country to achieve middle-income country status. It will lower the rate of poverty and enable regional growth. Likewise, the quality of people’s lives will improve.

Benefits and Strengths in the Market

Bangladesh relies on the textile sector. This country has one of the most extensive textile lines in the world. After China, Bangladesh is the largest textile exporter. This sector of the country accounts for more than three-quarters of the country’s GDP. As mentioned earlier, farming is the other primary industry in Bangladesh’s market.

Consumer Base

Bangladesh has a vast consumer base, with a population of 170 million.

The people are up to date with the Internet, a powerful tool for connecting with consumers. Also, consumers demand high-quality goods and services. They’re willing to pay for that quality. They believe in branding, so businesses must create a brand to win consumer’s loyalty.

Reasons to Grow Your Business in the Market

Bangladesh is one of the emerging markets in the world. It’s easy to see the reasons why you should invest. Starting a business in Bangladesh can give you excellent returns.

At present, Bangladesh is growing year by year. It is a superb location for running a business. For one thing, the country is in an area where you can create friendly trading allies. Such networking often takes place between major Asian and Middle Eastern markets.

Bangladesh welcomes foreign investors by providing tax relief and other incentives.

Furthermore, the people of Bangladesh now have more access to the Internet. Thus, there are chances for e-commerce businesses to excel.

About Market Research in Bangladesh

Are you having thoughts about starting your business in Bangladesh? SIS International Research provides Quantitative, Qualitative, and Strategy Research for your business. Our methods include research journals, interviews, surveys, and focus groups. We hope this article gives you what you need to start your business.