In a surprising turn of events, the Bangladesh Tourism Corporation’s initiative to set up a liquor outlet specifically for diplomats in Mohakhali, Dhaka, has failed to generate any revenue, leading to substantial losses. Launched a year ago without prior planning or market research, the store has not sold a single bottle of liquor, resulting in a financial debacle.
The decision to open the store was made without consulting potential customers or conducting any feasibility studies. Interestingly, there was no demand from the diplomats for such a facility. The Ministry of Civil Aviation and Tourism has recently requested the National Board of Revenue (NBR) to cancel the bonded warehouse license due to the unsustainable losses.
Despite efforts to attract diplomats by notifying embassies and sending personalized emails, the store has seen no visitors. Officials cited the lack of variety in the store’s offerings as a major drawback, as diplomats prefer a one-stop-shop experience that was not provided.
The financial strain is evident as the corporation faces annual losses, which have been compounding since the 2018-19 fiscal year. The previous bakery and pastry shop at the Hotel Abakash location, which was replaced by the liquor store, used to bring in a significant monthly income, further highlighting the poor strategic decision made by the corporation.
With the Tourism Corporation operating 51 hotels, motels, restaurants, and bars across the country, many of which are underperforming, the future of this particular venture looks bleak. The corporation plans to revert the space back to its previous use in hopes of recovering the losses and stabilizing its financial standing.