Economy
Dhaka is the commercial heart of Bangladesh. The city has a large middle class population, increasing the market for modern consumer and luxury goods. Many skilled workers are employed in the businesses and industries located in the Dhaka metropolitan area. The city has historically attracted a large number of migrant workers. Hawkers, peddlers, small shops, rickshaws transport, roadside vendors and stalls employ a large segment of the population — rickshaw-drivers alone number as many as 400,000. Half the workforce is employed in household and unorganised labour, while about 800,000 work in the textile industry. Even so, unemployment remains high at 23%. According to CityMayors Statistics, Dhaka's GDP registered at $52 billion in 2005 with an annual growth rate of 6.1%. Its estimated GDP in the year 2020 is $126 billion. The annual per capita income of Dhaka is estimated at $550, although a large segment of the population lives below the poverty line, with many surviving on less than $3 a day.
The main business districts of the city include Motijheel, Panthapath and Gulshan. Bashundhara City is a recently developed economic area that houses many high-tech industries and corporations and a shopping mall that is one of the largest in Southeast Asia, frequented daily by more than 25,000 people. The Export Processing Zone in Dhaka was set up to encourage the export of garments, textiles and other goods. The EPZ is home to 80 factories, which employ mostly women. The Dhaka Stock Exchange is based in the city, as are most of the large companies and banks of Bangladesh, including the Bangladesh Bank, HSBC, Citibank and the Grameen Bank. Urban developments have sparked a widespread construction boom, causing new high-rise buildings and skyscrapers to change the city landscape. Growth has been especially strong in the finance, banking, manufacturing, telecommunications and services sectors, while tourism, hotels and restaurants continue as important elements of the Dhaka economy.
Read more about this topic: Dhaka District
Famous quotes containing the word economy:
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—Henry David Thoreau (1817–1862)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)