It's not just that there has been no development of Cox's Bazaar and its beaches for tourism. There are plenty of other historical and cultural sites that could attract more mature tourists, as well as family-oriented tourists. We are all hard pressed to think of one site in Bangladesh that has proper insfrastructure, hotels, access, or security. As an example the tea gardens in Sylhet and the historical/religious sites in the could be a great attraction but what has been done? Even in Dhaka, those ugly malls that are on every street could be shopping destinations to compete with Bangkok or even the desi shopping in Calcutta but that is not the case.
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