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Time of India
04-08-2025
- Business
- Time of India
With Rs 1k crore businesses dip in 1 year; Kolkata's 'mini Bangladesh' counts its losses on 1st upheaval anniversary
KOLKATA: Even a year ago, 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. Tired of too many ads? go ad free now A year later, the area still feels ripples of the turmoil, with losses running into more than Rs 1,000 crore. 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. Tired of too many ads? go ad free now '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.
Time of India
10-05-2025
- Business
- Time of India
N-W turbulence impacts mini-Bangla visitor flow
1 2 Kolkata: Tourist footfall from Bangladesh to Kolkata dwindled further this week, with those travelling for medical treatment postponing their visits, according to hotel owners, eatery operators, and small business owners in the mini-Bangladesh area of Marquis Street, Free School Street, and Collin fresh dip comes in the wake of rising cross-border tensions between India and Pakistan on the northern and western fronts, prompting many tourists to keep their visits on hold, according to local business operators. Business owners in the area fear that the once-thriving mini-Bangladesh, already crippled by last year's political turmoil in Bangladesh, may now witness a total collapse of business."Hardly any tourists from Bangladesh came to Kolkata this week," said Mohammad Intezar, secretary of the Currency Exchangers Association. "There were a handful of tourists coming for medical purposes. Even they seem to have postponed their visits."Areas like Marquis Street, Free School Street, Collin Street, and Rafi Ahmed Kidwai Road, long known as cultural and commercial hubs for Bangladeshi visitors, are witnessing a downturn in business. Streets that would once bustle with Bangladeshi families shopping, dining, and sightseeing now wear a deserted look."Our hotel used to be booked weeks in advance by Bangladeshi families," said Mizanur Rahman, a budget hotel owner on Marquis Street. "Now, we're lucky to have 25 percent occupancy in a week. This is the worst it has ever been."Local eateries, which once tailored their menus to Bangladeshi tastes, wear an empty look during peak hours. "We used to serve 150-200 customers a day, most of them from various places in Bangladesh," said Salim Khan, who runs a restaurant on Collin Street. "Today, we barely see 40 to 50 people."In the past few months, several hotels, eateries, and other businesses shut down. Others pivoted to catering to local clientele. "We were hoping for the situation to improve and tourism to resume. But it seems the situation is taking a turn for the worse," said a hotel owner.
