Business owners at a small business district, popularly known as Mini Bangladesh, in Kolkata have counted losses over Rs 1,000 crore over the last one year due to the fall in the number of people visiting Kolkata from Bangladesh, according to a Times of India report.
The area offers affordable accommodation and Bangladesh cuisine in convenient places. The business in the area caters to the taste of Bangladeshi tourists.
Mini Bangladesh is located near New Market and flanked by Free School Street and Marquis Street. The area is close to major railway stations and bus terminals, and access to medical facilities are available. Even just a year ago, it was a neighbourhood that thrived on tourist footfall. But now, lanes of the-once bustling spot have fallen silent.
The Times of India reports, while a conservative estimate by several traders' associations pegs the losses faced by Mini Bangladesh in one year at over Rs 1,000 crore, many say the actual numbers may be a lot higher.
The report quotes Hyder Ali Khan, general secretary of the Free School Street Traders' Association, as saying, "Business from hotels, eateries, retail, travel agents, forex, medical care and transport is worth Rs 3 crore daily. If we factor in the losses in New Market and Burrabazar, it will cross Rs 5,000 crore."
Several businesses in the area have either closed or are focusing on local customers. Prabir Biswas, manager of a Marquis Street travel company said, "Even a year ago, multiple buses would arrive with tourists at the same time, making parking difficult. Today, several days pass by without a single tourist arriving."
Who are the most affected?
Currency exchange businesses are facing an almost existential crisis. "We are struggling to stay afloat. We were completely dependent on Bangladeshi tourists," said Mohammad Intezar, secretary of the Currency Exchangers Association, Marquis Street.
Traders remark that nearly 40% of the area's small and mid-level restaurants have closed shop since last year. Some big eateries are now operating but on a tight budget. "Business has dropped to 20% and it's becoming unviable for most of us. We are hanging on somehow, waiting for a turnaround," said NC Bhowmik, owner of Radhuni Restaurant.The Dhaka upheaval was actually a double whammy for the area's businesses, first copping a body blow during the pandemic.
The younger brother of a popular Marquis Street eatery owner said, "Expecting a boom after the pandemic, many of us had invested heavily. We even took loans to renovate and modify businesses. The business was doing well before this turmoil. My elder brother has fallen sick because of this stress. We have to pay EMIs of Rs 1.5 lakh, and there's barely any income."
The informal economy built around tourism influx — home-cooked food providers, homestay operators, tour guides —are suffering as well. Local residents who worked as hotel staffers, cooks, drivers and in retail shops, became unemployed . "I bought two commercial vehicles when demand surged after the pandemic. The business was flourishing and I often had to turn away customers. Now I barely get five to six bookings a month — and that too from locals who don't want to pay as much. I have to pay EMIs," said Elliot Road resident Farhan Rasul.
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