Ongoing social, economic disruption drives up business costs: Tanzin Zaman

The travel sector, which has already been heavily impacted by financial constraints and political instability, is now grappling with rising operational costs. It is the time-befitting demand for taking immediate attention from authorities to address these pressing issues, emphasizing the need for measures that can stabilize the economy and support businesses during these turbulent times.

In an exclusive interview with the Current View, Tanzin Zaman, Managing Director and CEO of Own The World Company Limited, emphasized the critical need for political and social stability to ensure the smooth operation of travel agencies. In light of ongoing challenges, including financial constraints and the recent Quota protest movement, Tanzin highlighted the pressing issues facing the travel sector.

The travel agency industry predominantly relies on cash transactions, but due to an acute financial crisis in the banking sector, banks have imposed restrictions on cash withdrawals exceeding Tk 2 lakh. This has created significant obstacles for travellers, making it difficult for them to secure the necessary funds for international travel.

Tanzin expressed concern over the impact these financial challenges are having on the industry. “Travelers are struggling to manage adequate funds for overseas travel, which imposes artificial hindrances on our business operations,” she stated.

With the recent establishment of an interim government led by Dr.Mohammad Yunus, Tanzin urged authorities to prioritize creating a business-friendly environment. “We call on the government to revamp the travel agency sector and stabilize the economy, ensuring that businesses can thrive and contribute to national growth,” she added.

As the travel industry navigates these turbulent times, the call for supportive measures from the government becomes increasingly urgent to restore confidence and facilitate smoother business operations.

Tanzin Zaman, Managing Director and CEO of Own The World Company Limited, has sounded the alarm over the escalating challenges faced by the travel agency sector due to ongoing social and economic disruptions. She highlighted a significant increase in business costs, stating, “We are facing a life-and-death situation to run our existing operations.”

Tanzin expressed deep concern about the financial strain on many stakeholders within the industry, noting that some are struggling to pay their staff salaries. “This situation is unsustainable. If such a hostile environment continues, we risk plunging into a severe economic recession,” she predicted.

Tanzin Zaman has underscored the significant potential of Bangladesh to enhance its travel and aviation sectors, citing the country’s strategic geographical location. She noted that the travel and aviation industries have experienced substantial growth over the past decade, largely attributed to supportive government policies.

“Bangladesh has a unique opportunity to capitalize on its position as a gateway to various regions, and the travel and aviation sectors have surged significantly thanks to policy support from the authorities,” Tanzin stated.

However, she emphasized the need for continued efforts to create a more business-friendly environment. “We are urging the Dr.Mohammad Yunus-led interim government to ensure a supportive atmosphere that can further boost business and economic activities in the country,” she added.

Meanwhile, Tanzin Zaman, has turned her focus to the vital role women stakeholders play in advancing Bangladesh’s economy. Zaman highlighted that women are increasingly stepping into challenging professions, significantly contributing to the nation’s economic landscape.

“Women are now showing tremendous eagerness to take on challenging roles and responsibilities,” Tanzin stated. She emphasized that their participation is essential for promoting economic growth and development in the country.

Tanzin called for ongoing support from the interim government, urging for continuous policy and logistical assistance to help women succeed in their endeavors. “We want to ensure that we can run our existing businesses effectively and efficiently,” she added.

As women continue to break barriers and enter diverse sectors, Tanzin’s appeal for government support reflects the broader need for an inclusive approach to economic development that empowers all members of society.

Tanzin Zaman has emerged as a prominent figure in the travel industry, showcasing her dedication to both business and social empowerment. A post graduate of American International University, Tanzin has expressed her commitment to becoming a catalyst for change, particularly in empowering women in society.

“I wanted to be a stakeholder in empowering more people, especially women,” Tanzin stated. “I aim to be a job provider rather than just a job seeker.” Currently, she leads a team of 15 officials at her travel agency, which she established five years ago.

Despite facing significant challenges, including the impact of the COVID-19 pandemic and ongoing political turmoil, Tanzin remains resolute. “The pandemic hit my business hard, and the current political climate continues to affect operations,” she lamented. “But I will never be disappointed. I am still running my business, although I’m uncertain about how far I will be able to go.”

Tanzin’s journey highlights the resilience and determination required to thrive in a competitive industry, and her focus on empowering others reflects a broader commitment to fostering growth and opportunity in Bangladesh. As she navigates the complexities of the current business landscape, her efforts to uplift women and create job opportunities remain at the forefront of her mission.

As the travel and aviation industries continue to evolve, Tanzin’s call for a collaborative effort between the government and stakeholders is seen as crucial to unlocking the full potential of these sectors and driving economic growth in Bangladesh.

As the situation evolves, the survival of many travel agencies hangs in the balance, raising urgent questions about the future of the industry and its ability to recover from the current crisis.