Ayodhya’s ₹85,000 cr renovation could bring ₹25,000 cr tax revenue boost to Uttar Pradesh (Ayodhya Ram Mandir).

Ayodhya Ram Mandir

Ahead of the Ram Mandir consecration, Uttar Pradesh is set to host over 20 million tourists in the coming month. The transformed Ayodhya, with its makeover, plays a pivotal role in attracting visitors for this historic event (Ayodhya Ram Mandir), contributing to the region’s cultural and religious significance and boosting tourism in the state.
  • Prime Minister Narendra Modi presided over Ayodhya’s historic moment on Monday, leading the consecration ceremony of the Ram Mandir. The event marked a significant cultural and religious milestone, symbolizing the fulfillment of a longstanding aspiration for the construction of the temple in Uttar Pradesh.
  • Before the Ram Mandir inauguration, Ayodhya’s transformation involved an estimated $10 billion (₹85,000 crore approx.) expenditure, as reported by PTI. Additional funding is also planned for further redevelopment.
  • India’s tourism, generating nearly $200 billion, constitutes 7% of its economy, trailing behind comparable economies.
  • A report by Jefferies suggests that Ayodhya’s extensive ₹85,000 crore makeover, encompassing a new airport, revamped railway station, township, and improved road connectivity, could catalyze over ₹25,000 crore in tax revenue for Uttar Pradesh.
  • Despite the significant contribution, India’s tourism sector still falls short by up to 5 percentage points compared to other large emerging and developed economies.
  • This comprehensive redevelopment signals a transformative effort to boost tourism and enhance infrastructure in Ayodhya, according to PTI’s report on the matter.
  • Jefferies’ report emphasizes that Ayodhya’s extensive makeover has the potential to draw more than 50 million annual tourists.
  • Comparatively, the Golden Temple in Amritsar receives 30-35 million visitors, Tirupati temple sees 25-30 million, Vatican City attracts around 9 million, and Mecca in Saudi Arabia welcomes approximately 20 million tourists each year.
  • This projection positions Ayodhya as a significant destination, potentially surpassing footfalls at renowned global religious and cultural sites, according to the findings.
  • Uttar Pradesh stands to gain ₹4 lakh crore from the Ram Mandir initiative. In boosting Ayodhya’s tourism, the city’s airport is now operational, handling 1 million passengers, set to expand to 6 million by 2025.
  • Additionally, the railway capacity has doubled to accommodate 60,000 passengers daily, enhancing connectivity and facilitating the anticipated influx of visitors to the (Ayodhya Ram Mandir) historic site.

 

Ayodhya Ram Mandir

 

  • Presently, Ayodhya boasts 17 hotels with 590 rooms, and an additional 73 hotels, 40 under construction, are in the pipeline. Major players like Indian Hotels, Marriott, and Wyndham have inked deals, with ITC exploring opportunities.
  • OYO plans to add 1,000 rooms to the city. With tourism projections for Ayodhya and Uttar Pradesh, experts suggest that total tourist expenditure in the state could surpass ₹4 lakh crore by year-end, according to an SBI report cited by the Economic Times.
  • The surge in hotel development and strategic partnerships reflects the optimism surrounding the economic impact and increased tourism in Ayodhya Ram Mandir and Uttar Pradesh.
  • The Ram Mandir in Ayodhya is poised to evolve into a global tourism destination, comparable to Mecca and the Vatican, in the near future.
  • This transformation is anticipated to significantly enhance the tax revenue generated by Uttar Pradesh, aligning Ayodhya with renowned international religious and cultural sites.
  • The potential surge in global visitors reflects the cultural and historical significance of the Ayodhya Ram Mandir, signaling a substantial economic impact for the region in the coming years.

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