Jai Shree Ram To Everyone!
॥ राम राज बैठे त्रैलोका। हर्षित भए गए सब सोका ॥
“When Sri Ram ascended the throne and took over the administration of the kingdom, all three worlds – heaven, mortal and underworld – became incredibly joyful, and all their sufferings vanished – Ramcharitmanas.
The most-awaited day or inauguration of Ram Mandir Ayodhya on 22 January 2024 is the biggest religious event in the world. People have waited for 500 years for this auspicious day when Ram Lalla will ascend to his birthplace – Ayodhya. The day indeed marks the advent of happiness, blessings, wealth, and prosperity, especially for the people of Ayodhya. Not only is the Pran Pratishta a religious event, but it also marks a large economic impact as India gets a new tourist spot that could attract 50 million plus tourists a year, foreign brokerage firm Jefferies said in a report. As the country gears up to inaugurate Ram Mandir in Ayodhya, businesses have also found a new place for their investment.
With the inauguration of Ram Mandir in Ayodhya, everyone is buzzing about the temple’s economic impact. In today’s blog, we will walk you through the economic impact of the Ram Temple on the country.
Developing Ayodhya As A Tourist Hub
Every year, India earns a significant amount of money from religious tourism. In 2022, the country earned more than 1.34 lakh crore, recording a growth of 106 per cent compared to the number recorded in 2021. According to the tourism data of the UP Government, Ayodhya attracted more than 25 million tourists in 2022, which will make a new record after the inauguration of Ram Temple on 22 January 2024. To facilitate tourism for everyone, PM Modi recently inaugurated the new airport named Maharishi Valmiki International in Ayodhya, which was built at a cost of over Rs. 1,460 crore.
Many business owners in the aviation and hospitality industries are flocking to the city to expand and capitalise on the tourism opportunity. With so much taken into account, tourism in Ayodhya is projected to increase, and multiple sectors stand to benefit, including hotels, airlines, hospitality cement, travel ancillaries, etc.
Aviation Industry In Ayodhya
As you know, respected PM Modi has recently inaugurated an airport in Ayodhya, which has already facilitated travel for tourists to a great extent. In the aviation sector, SpiceJet has uplifted Ayodhya’s connectivity with non-stop flights to Chennai, Bengaluru, and Mumbai. Aviation surge is supported by Air India Express and IndiGo, which will contribute to enhanced daily flight connections between Ayodhya and Delhi. The government has also invested in revamping the existing railway station, township and road connectivity in Ayodhya.
Reports also say that additional domestic capacity and an international terminal are projected to be launched by 2025 with a capacity to handle 6 million passengers. However, the existing railway station has been upgraded to double the capacity to 60,000 passengers every day. According to the Economic Times report, tourism is big in India, and the creation of the Ram Temple in Ayodhya with enhanced connectivity and infrastructure can have a significantly large economic impact.
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Hotel Industry In Ayodhya
Just like the aviation industry, the hotel industry is also going to flourish in the country with the inauguration of Ram Temple in Ayodhya. Renowned hotels in the country, like Taj and Radisson, are also marking new ventures in the city, with nearly 50 major hotel construction projects currently underway.
OYO, the country’s largest hotel chain operator, aims to add 50 hotels and homes, aggregating to some 1000 rooms. “These new properties will be strategically located near Ayodhya’s prominent landmarks, ensuring convenient access for visitors exploring the city’s iconic attractions,” says Anuj Tejpal, Chief Merchant Officer at OYO.
Massive Infrastructure Development Project
Apart from hotels and the aviation industry, the city will also witness colossal infrastructure development as announced by the central and state governments. Under the Ayodhya Master Plan 2031, a project worth 85,000 crores will be executed to upgrade the town’s infrastructure. It has already been witnessed that the government has disclosed a new international airport and a revamped railway junction. During a recent visit to Ayodhya, PM Narendra Modi said, “Infrastructure-related works will once again establish modern Ayodhya with pride on the map of the country.”
Real estate developers have flocked to the town in search of prime land. According to Abhinandan Lodha, Managing Director of the House of Abhinandan Lodha (HoAL), the company plans to invest `1,200 crore in the city. Its project will be spread over 51 acres, which includes a luxury hotel, residential plots, villas and high-rise luxury apartments.
Sneak Peek Into Major Economic Development In The City
- Trains like Vande Bharat and Amrit Bharat are introduced for better connectivity
- OYO to add 50 hotels and homes in the city
- HoAl company plans to invest 1,200 crore in the development of the city.
- An international terminal will be launched by 2025
- The newly inaugurated Ram Temple comes at the cost of $225 million.
Way Forward
With the inauguration of the Ram Temple in Ayodhya, millions of people across the world have set their eyes on the city to take blessings of Ram Lalla. The Economic Times reports that Ayodhya has become a catalyst for boosting India’s tourism and hotel industry, which transforms the ancient city from a serene town to a global religious and spiritual tourist hotspot, similar to Mecca and the Vatican. SBI anticipates that the total expenditure by tourists in Uttar Pradesh could surpass Rs. 4 lakh crore by the end of 2024. With the inauguration of the Ram Temple, all roads seem to be leading to Ayodhya.
