Political: The economy of the country is suffering as a result of double digit inflation and the recent stock market crash. The taka is getting devalued against the dollar so it foreign travelling is becoming much more expensive for the clients of Monaz Avaition .
Social: Due to the influence of media and information technology, the citizens of the country have deeply got involved in the western culture. Especially the younger generation and our country is a relatively young nation. Thus more young people have started preferring travelling abroad rather than within the country and this has inflated the revenue of the industry. Also, since more people can afford a lot of money, they prefer to go abroad for medical check-ups especially the garment owners and industrialists.
Technological: Due to the progression of technology, the purchase of tickets can be possible online which has negatively affected the sales of the travel agency industry but still more people prefer to use the services of an agent rather than do it by themselves.
Political: The political situation of the world right now has become shaky especially in the middle east. Since the travel industry in Bangladesh is heavily involved in the manpower trade the recent wars instability in the Middle East, have cost the industry many clients have become quite which is effecting the revenue of sector.
Environment: A very high portion of Bangladeshi Travellers prefer to go to Thailand and the recent flood in Thailand cost the industry a lot of revenue.
Legal Issues: The travelling industry is highly monitored by the Bangladeshi Government because of the high level of fraudulent activities done by the manpower businessmen.
Current state of Operation and Future directions
Years | 2009 | 2010 | 2011(First Six Months) |
Revenue | 33.25 lac taka | 47.7 lac taka | 30 lac taka |
Years | 2009-2010 | 2010-2011 |
Revenue Growth | 43.45% | -37.1% |
Currently the company is using its old clients and...