The much awaited day has finally arrived. Ayodhya is set to witness the grand ceremony of Ram Mandir's inauguration today, i.e. 22nd January. The temple's inauguration is not only opening doors to an economic boom in the city of Ayodhya, but in fact for the entire state of Uttar Pradesh.?
The grand opening of the Ram Mandir in Ayodhya today by India's PM Narendra Modi is set to make the city a new tourist hotspot. In fact, Ayodhya can attract as many as 50 million (or 5 crore) tourists per year, as per American investment bank Jefferies.
¡°A $10 billion makeover (new airport, revamped railway station, township, improved road connectivity, etc) will likely drive a multiplier effect with new hotels and other economic activities. It can also set a template for infra-driven growth for tourism,¡± said Jefferies.
Ram Mandir, Ayodhya, is said to be India's answer to the Vatican City and Mecca.
Rs 4 lakh crore - That's how much revenue the state of Uttar Pradesh (UP) is expected to generate this year, thanks to the tourism boost expected from Ram Mandir's inauguration in Ayodhya.
According to SBI report, the total expenditure by tourists in UP may cross Rs 4 lakh crore mark by end of this year, given the completion of Ram Mandir in Ayodhya and initiatives taken by the UP government to promote tourism.
Also Read:?List Of India's Richest Temples & Their?Networth?Ahead Of?Ram?Mandir Inauguration
Ram Mandir's inauguration in Ayodhya is not just a one day event that is boosting the tourism in the city and state. In fact, it seems to be just the beginning of an economic boom for Ayodhya and the state of UP. Besides the lakhs of devotees and 7,000 guests expected to attend the Ram Mandir's inauguration today, the footfall in the city and state are expected to continue to grow in coming months this year.?
Property prices, flight costs and hotel booking rates have already been surging in the state and city, and the addition of the Ayodhya airport and revamping of Ayodhya railway station are also expected to boost tourisim and connectivity for devotees from all across the country and world.?Ayodhya is expected to get Rs 85000 crore makeover through investments in next 10 years.
In January alone, the city is expected to generate Rs 50,000 crore revenue.
SBI's report expects tourist spending in the state doubling this year compared to 2022.?In 2022, foreign tourists spent an additional Rs 10,000 crore on the state, while domestic tourists spent close to Rs 2.2 lakh crore. Ayodhya welcomed 2.21 crore tourists in 2022.
Ram Mandir in Ayodhya and other tourism plans could bolster Uttar Pradesh's finances by Rs 20,000-25,000 cr in tax revenue.?The state is benefiting greatly from the Center's Pilgrimage Rejuvenation and Spiritual Heritage Augmentation Drive (PRASHAD) program, according to a SBI report which was released on January 21st. According to its budget, Uttar Pradesh expects its own tax revenue to reach Rs 2.5 lakh crore in FY24.
The SBI report suggested that India should work with other nations to create a tourism map, saying, "The state government can devise an encompassing travel itinerary that gives the discerning tourists a glimpse of the enchanting history across multiple places of importance in the state as well as surrounding states on a hub and spoke model."
The report observed that the rise in spiritual tourism has changed the face of tourism in Uttar Pradesh (UP), leading to better physical and digital infrastructure, easier access to connectivity, and a significant rise in travel.
The report, which praised the state for its efforts on economic and socioeconomic fronts, predicted that Uttar Pradesh economy will surpass $500 billion as India's economy grows to $5 trillion by FY28.?It stated that by FY28, UP's GDP is expected to account for the second-highest percentage of India's GDP and could surpass that of Norway, the Scandinavian nation ranked second in the Human Development Index (HDI).
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