The Transformation of Ayodhya – From Quiet Town to Religious Hub

January 23, 2024January 25, 2024 Admin

An auspicious ceremony of Ram Mandir is happening in Ayodhya. People think this will bring a lot of money to the area. A big company called Jefferies says that around 50 million people might visit the holy town every year. This would make a lot of money for the town and help it grow. Meanwhile, you can explore Ayodhya with just a click and simply book your cheap air tickets to Delhi from USA. Consider Flyopedia to avail more affordable options.

Inauguration of Ram Temple by PM Narendra Modi

Prime Minister Narendra Modi inaugurated the Ram Temple in Ayodhya, which is significant for religion. It also benefits the economy because India now has a new tourism destination. Every year, it may receive 50 million or more visitors.

$10 Billion Makeover Projections

A $10 billion makeover (about Rs 82,500 crore), featuring a new airport, redesigned train station, township, and improved road connectivity, is poised to stimulate economic activity. This transformation, as per Jefferies’ research, could establish a template for infra-driven growth, potentially attracting more tourists. Additionally, the upgraded facilities may facilitate easier access, enticing travellers to book cheap air tickets to India from USA, fostering international connectivity and tourism growth.

Economic Impact and Benefits Across Sectors

Multiple sectors stand to benefit, including hotels, airlines, hospitality, FMCG, travel ancillaries, cement, etc.” the research continued, citing a surge in both religious and economic migration to Ayodhya. According to Jefferies, Ayodhya’s Ram Temple has the potential to “create a meaningfully large economic impact.”

Projected Pilgrim Numbers and Infrastructure Development

The principal pilgrimage site, encompassing around 70 acres, will be large enough to accommodate up to one million pilgrims at once. According to estimates, the number of pilgrims will climb to 1-1.5 lakh every day.

In India, religious tourism continues to be the largest category of travel. Several recognized places of worship attract between 10 and 30 million tourists each year despite current infrastructure constraints. Accordingly, the establishment of a brand-new religious tourism hub (Ayodhya) with better infrastructure and connections has the potential to have a large economic impact.

Transformation of Ayodhya from Quaint Village to Religious Hub

With the renovation, the historic city is expected to go from being a quaint village to a popular hub for religious and spiritual travellers worldwide. Tourism is expected to expand, as will economic and religious migration to Ayodhya, benefiting some industries such as hotels, airlines, hospitality, FMCG, travel ancillaries, cement, and others, according to the Jefferies analysis.

Tourism Growth and Economic Predictions

Before the global epidemic, tourism generated $194 billion in FY19 GDP.
This is now predicted to increase at an 8% CAGR to $443 billion by FY 2033.
India’s tourism-to-GDP ratio of 6.8% is lower than most large emerging and developed economies by 3-5 percentage points.

Air Travel and Connectivity Developments

Indigo, a travel service company, named Ayodhya as its 86th domestic destination, with direct flights from Delhi, Ahmedabad, and Mumbai. Air India has announced direct flights from Bangalore, Kolkata, and Delhi. Spicejet and Aksa Air have also launched flights between Ayodhya and several destinations. IRCTC introduced travel packages to Ayodhya, according to the report. Meanwhile, if you are looking to book your air tickets from Canada, browse through Flyopedia.ca, as we have more affordable and last-minute flight deals from Canada to India.

Identified Beneficiaries and Companies

Jefferies has identified Indian Hotel Company Limited and EIH as possible hotel beneficiaries, as well as ITC, Jubilant Foodworks, Britannia Industries, Godrej Consumer, Westlife Foodworld, Hindustan Unilever, Devyani International, and Sapphire Foods in the FMCG and QSR space.

Hotel Construction Boom in Anticipation of Visitor Traffic

InterGlobe Aviation (Indigo), SpiceJet, and IRCTC stand to benefit from the travel sector. The city is seeing a robust wave of hotel building and construction due to an anticipated increase in visitor traffic. Ayodhya, which currently has roughly 17 hotels and 590 rooms, is preparing for a large expansion. A significant 73 new hotels are in the works, with 40 currently in various stages of building.

Projections for Hospitality Developments

Many popular hotel brands and hospitality industries, including IHCL (Indian Hotels Company Limited), Marriott International, Wyndham, and OYO Rooms, are intending to open new hotels in Ayodhya.

The hospitality developments are projected to significantly increase hotel capacity to meet the growing number of tourists and pilgrims visiting Ayodhya. Moreover, book direct flights to Chennai from USA, and explore the hospitality of Incredible India. Visit Flyopedia to secure your tickets now!

Also Read: Sacred Spaces: 7 Ashrams in India for Finding Your True Calling