Exploring potential of service sector

Bangladesh has failed to keep pace with the burgeoning service sector worldwide in line with digital economy. But the country's demography with the highest ever percentage of working population of 39.39 per cent should have taken advantage of the service sector instead of pursuing cheap labour in the Middle East and other countries. Sadly, the growth of the service sector in this country has ever remained incompatible with those of many neighbouring countries. Here is a monumental policy failure that the authorities have of late realised and trying to formulate a policy on export of services. With software and apps development, data processing and other digital services opening up an unlimited opportunity for this sector, the techno-savvy young people are increasingly opting for freelancing instead of services requiring office works for certain hours. The new generation of youths want to enjoy the freedom of working at hours convenient to them.

Sure enough, digital services of the highest order require specialised education and training. But the new generation is fast catching up with the fundamental character of data processing, although they may not solve complicated problems. Yet some extraordinarily talented young people have trained groups of SSC and HSC passed youths enough for them to earn in the range of Tk30,000-40,000 a month. In case of problem solution, the organisers lend their hands. If such youths can mould raw minds, a well crafted and comprehensive policy could be put in place for nurturing secondary and higher secondary passed youths. Unfortunately, the sector has been subjected to neglect for long and in the process its potential remains unrealised. There is a need for a paradigm shift in the mentality of those who are charged with the task of planning for the demography. So, along with high calibre career, this sector could develop a culture of foundational programme for youths who have missed higher education.

However, service sector offers other opportunities for youths not at ease with algorithm. Tourism and travel and financial services also have vast potential. Sea and air transports, technical and trade related services along with financial services can be extended to cover a wide area of everyday life. All such services can be packaged according to their categories. If young people are trained to operate such packages, their businesses are sure to pick up. Given the nature of diverse services, the country's income from this particular sector can surpass the remittance earned by migrant workers.

It surely is a cause for concern that earning from the service sector has been declining over the past three years. The peak year for Bangladesh was 2022, when Bangladesh earned $8.89 billion from export of different services. The 2024 was the worst year when the country earned only $6.64 billion. However the year 2025 saw an upturn in earning with $6.91 billion. When a large population lives in a small territory, making the best use of the manpower is a compulsion. There is certainly a need for computer education for students of high school. The casual approach to multimedia has to be replaced by genuine and practical lessons. Only then the manpower resources will be able to take advantage of service sector and the digital economy.