Project Blue Horizon: Toursim Venture Catalyst

Bangladesh’s tourism sector offers a highly attractive opportunity for private equity investment, with the market projected to grow from $2.4 billion to $3.46 billion by 2029, reflecting a 9.62% CAGR. The government’s Tourism Master Plan aims to attract 5.57 million annual visitors by 2041, requiring $1.08 billion in public-private investment across 19 priority clusters, creating a landscape ripe for PE-backed venture acceleration in a fragmented market with limited institutional capital. The sector’s fundamentals are strong, featuring three UNESCO World Heritage sites, Cox’s Bazar—the world’s longest natural sea beach, the Sundarbans mangrove ecosystem, and supportive policies including 100% FDI ownership. Despite this, international visitor numbers remain low at 650,000 in 2023, signaling substantial growth potential relative to regional peers. Key investment themes include digital platform consolidation, sustainable eco-tourism, medical tourism, and hospitality expansion, with target IRRs of 20–25% achievable through operational improvements, strategic positioning, and exit via regional expansion or acquisitions. Fifteen specific targets have been identified, spanning established operators like Nijhoom Tours and Pathfriend to high-growth digital platforms such as GoZayaan, Shohoz, and ShareTrip, highlighting actionable pathways for PE firms to capture value in Bangladesh’s evolving tourism market.