In the next five years, the Padma Bridge is set to generate $500 million to boost the vehicle sector of Bangladesh, providing jobs to thousands and increasing the GDP as well. This will increase the demand for vehicles and generate more jobs, eventually leading to long-term stability.
As forecasted by a leading company’s insight, the vehicle industry is expected to sell at least 800 buses this year to existing and new bus owners. This decision is aimed at targeting dozens of existing and new fleet owners.
The Padma Bridge that connects Dhaka, the capital of Bangladesh, and the southwestern part of the country, has already increased the employment rate and created dozens of jobs in the country.
With the addition of new routes along the bridge, nearly 400 to 500 buses are estimated to be sold annually, increasing the annual sales of buses by 16 percent. This annual rate is projected to increase further by 5 percent each year for the next five years.
More and more buses will hit The Padma Bridge in the upcoming years, and the estimated amount of buses to hit the bridge will reach up 3000 to 4000 buses. This will reduce the overall unemployment rate, and with the bridge in place, the waiting time of passengers is expected to be reduced.
Around 3000 to 4000 buses, worth nearly Tk 2,500 crore to Tk 5,000 crore, are projected to be sold in the upcoming five years, all thanks to the Pad7ma Bridge.
The Padma Bridge and the expressways have immensely improved the connectivity between Dhaka, the country’s capital, and the southwestern districts under Khulna, Barisal, and Dhaka divisions.
The Padma Bridge has reduced the traveling distance from the capital to the southwestern districts; the bus trip that originally took 8 o 10 hours now takes only 4 to 5 hours, all thanks to the Padma Bridge.
People love the shortened ride and the beautiful view of the water from above that the ride has to offer. With this factor in mind, the industry already booked around 300 buses, which was a great decision on their part, as, after the completion, this is giving a huge return on their investments.
After the COVID-19 lockdowns, people started traveling more to compensate for their lost time locked in their homes. This increased traveling, as well as the construction of the Padma Bridge, brought not only a great increase in the sale of buses and a higher return on investments for those who invested in the transportation sector, but it also helped decrease the unemployment rate in the country.
Now, the industry is eyeing pickup trucks and the transport of commodity goods from the Padma Bridge. Since this link has improved public transportation, commodity transport is also expected to take less time and consume less fuel, reducing the costs for the manufacturing and transport sectors.
