Once a bustling destination for Bangladeshi travellers, Kolkata’s ‘mini Bangladesh’ is still reeling a year after the fall of the Hasina government brought cross-border tourism to near-zero.

The bustling neighbourhood, nestled between Free School Street and Marquis Street near New Market, has suffered financial losses exceeding Rs 1,000 crore, with businesses still struggling to recover.

The area had long attracted Bangladeshi visitors with its affordable hotels, familiar food, convenient transport links, and access to healthcare. But over the past year, the lively streets have quieted dramatically.

According to local business associations, the true extent of the economic impact could be far greater.

“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.

With Bangladeshi arrivals reduced to a trickle, many hotels, restaurants, currency exchanges and travel agencies have either closed down or shifted focus to local customers. “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 agency.

Currency exchange services that depended heavily on Bangladeshi taka transactions are now largely inactive. “We are struggling to stay afloat. We were completely dependent on Bangladeshi tourists,” said Mohammad Intezar, secretary of the Currency Exchangers Association on Marquis Street.

Traders estimate that nearly 40% of the area’s small and mid-sized eateries have shut down. Larger restaurants continue to operate under immense financial strain. “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.

For many, the blow came just after they had invested heavily to rebuild post-Covid. “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 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.

The fallout has also devastated the informal economy that had grown around Bangladeshi tourism. Homestay operators, cooks, guides and drivers have seen their livelihoods disappear. “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.

Source: Times of India