Even a year ago, Indian city Kolkata’s ‘mini Bangladesh’ was a tiny but vibrant pocket of the city’s food, hospitality and forex ecosystem.
However, when Bangladesh was hit by political upheaval and then-PM Sheikh Hasina’s govt fell, the neighbourhood was hit hard with Bangladeshi tourist footfall diminishing to near-zero. A year later, the area still feels ripples of the turmoil, with losses running into more than Rs 1,000 crore, reports Times of India.
Closed businesses mark a deserted Marquis Street on Sunday
Located near New Market and flanked by Free School Street and Marquis Street, the spot has long been a favourite of Bangladeshi tourists. It offers affordable hotels, eateries serving ‘opaar Bangla cuisine, proximity to major railway stations and bus terminals, and access to medical facilities. Till just a year ago, it was a neighbourhood that thrived on tourist footfall. But now, lanes of the-once bustling spot have fallen silent.
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 more. “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,” said Hyder Ali Khan, general secretary of the Free School Street Traders’ Association.
Several businesses in the area have either shut shop or are focusing on locals. “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,” said Prabir Biswas, manager of a Marquis Street travel company.
Eateries, currency exchange biz, homestays most affected
Currency exchange businesses dealing in Bangladeshi taka now lie dormant. “We are struggling to stay afloat. We were completely dependent on Bangladeshi tourists,” said Mohammad Intezar, secretary of the Currency Exchangers Association, Marquis Street.
According to traders, nearly 40% of the area’s smalland mid-level restaurants have closed shop since the crisis. Several big eateries are now operating on shoestring budgets. “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. “Expecting a boom after the pandemic, many of us had invested heavily. We even took loans to renovate and modify business,” said the younger brother of a popular Marquis Street eatery owner. “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,” he added.
Beyond big businesses, Informal economy built around tourism influx-home-cooked food providers, homestay operators, tour guides has crumbled. Hundreds of local residents who worked as hotel staffers, cooks, drivers and in retail shops, have been badly hit. “I bought two commercial vehicles when demand surged after 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.