Several Indian and international financial agencies have projected a huge influx of pilgrims in Ayodhya following the grand consecration ceremony on Monday. The temple was opened for the pilgrims for darshan on Tuesday. They predicted that the Ayodhya temple would play a vital role in the realisation of the $1 trillion economy target of Uttar Pradesh Chief Minister Yogi Adityanath.
Larsen & Toubro, the company involved in the construction of the temple, has claimed that it would remain in existence for the next 1,000 years because of the quality of construction and engineering and that its economic impact would be equally significant.
A study conducted by SBI Research recently claims that owing to the Ram temple and other tourism-centric initiatives, Uttar Pradesh is expected to have a tax collection of Rs 25,000 crore in 2024-25.
The report said that Ayodhya would be the most important factor in this with pilgrims coming to the city not only from within the country but also from different parts of the world. It reveals further that with the growth in tourism, Uttar Pradesh would become richer by about Rs 4 lakh crore this year.
Foreign stock market research firm Jefferies claims that Ayodhya will surpass Vatican City and Mecca in terms of the number of devotees visiting the place.
Notably, Vatican City is the holiest place for the Roman Catholics and millions visit every year. Similarly, Mecca in Saudi Arabia, which is the major pilgrimage site for the Muslim community, sees millions of visitors annually.
According to the report, Ayodhya is expected to attract around 5 crore devotees annually, making it a major tourism destination not only within Uttar Pradesh but also in the entire country.
Jefferies has also said that with the construction of the Ram temple as well as provision of various facilities, such as a new international airport, an advanced railway station, township, road connectivity, and new hotels, Ayodhya is becoming a hotspot for tourism.
This will further strengthen Uttar Pradesh’s second place as a tourist destination on the map of India, it states further.
According to the report, along with the increase in the number of devotees, Ayodhya will also see a growth in its annual revenue.
It mentions that Tirupati Balaji in Andhra Pradesh, which attracts 2.5 crore devotees every year, generates an annual revenue of Rs 1,200 crore, whereas Vaishno Devi receives 80 lakh people annually and gets an annual revenue of Rs 500 crore.
Similarly, in Agra, the Taj Mahal attracts 70 lakh visitors, generating an annual revenue of Rs 100 crore, while Agra Fort sees 30 lakh visitors, contributing to an annual revenue of Rs 27.5 crore.
The report says that Mecca attracts 2 crore people annually, contributing to Saudi Arabia’s annual revenue of 12 billion dollars, whereas the Vatican City, with 90 lakh visitors annually, generates an annual revenue of 315 million dollars.
According to another estimate, more than one lakh devotees are expected to visit Ayodhya everyday for Lord Ram’s darshan. This number can soon reach 3 lakh per day.
If this happens, over 10 crore devotees may visit Ayodhya annually. If each devotee spends approximately Rs 2,500 during the visit, the local economy of Ayodhya alone will add up to Rs 25,000 crore.
Notably, devotees travelling to Ayodhya are likely to visit other religious sites such as Kashi Vishwanath Temple in Varanasi and Banke Bihari Temple in Mathura.
This will also positively impact the local economies of Varanasi and Mathura.
In this way, the economy of Uttar Pradesh could receive an additional dose of nearly Rs 1 lakh crore directly each year. This direct boost could have a ripple effect on the local economy, potentially resulting in approximately five times the impact, ultimately contributing to India’s economic development. PNS n Lucknow
Several Indian and international financial agencies have projected a huge influx of pilgrims in Ayodhya following the grand consecration ceremony on Monday. The temple was opened for the pilgrims for darshan on Tuesday. They predicted that the Ayodhya temple would play a vital role in the realisation of the $1 trillion economy target of Uttar Pradesh Chief Minister Yogi Adityanath.
Larsen & Toubro, the company involved in the construction of the temple, has claimed that it would remain in existence for the next 1,000 years because of the quality of construction and engineering and that its economic impact would be equally significant.
A study conducted by SBI Research recently claims that owing to the Ram temple and other tourism-centric initiatives, Uttar Pradesh is expected to have a tax collection of Rs 25,000 crore in 2024-25.
The report said that Ayodhya would be the most important factor in this with pilgrims coming to the city not only from within the country but also from different parts of the world. It reveals further that with the growth in tourism, Uttar Pradesh would become richer by about Rs 4 lakh crore this year.
Foreign stock market research firm Jefferies claims that Ayodhya will surpass Vatican City and Mecca in terms of the number of devotees visiting the place.
Notably, Vatican City is the holiest place for the Roman Catholics and millions visit every year. Similarly, Mecca in Saudi Arabia, which is the major pilgrimage site for the Muslim community, sees millions of visitors annually.
According to the report, Ayodhya is expected to attract around 5 crore devotees annually, making it a major tourism destination not only within Uttar Pradesh but also in the entire country.
Jefferies has also said that with the construction of the Ram temple as well as provision of various facilities, such as a new international airport, an advanced railway station, township, road connectivity, and new hotels, Ayodhya is becoming a hotspot for tourism.
This will further strengthen Uttar Pradesh’s second place as a tourist destination on the map of India, it states further.
According to the report, along with the increase in the number of devotees, Ayodhya will also see a growth in its annual revenue.
It mentions that Tirupati Balaji in Andhra Pradesh, which attracts 2.5 crore devotees every year, generates an annual revenue of Rs 1,200 crore, whereas Vaishno Devi receives 80 lakh people annually and gets an annual revenue of Rs 500 crore.
Similarly, in Agra, the Taj Mahal attracts 70 lakh visitors, generating an annual revenue of Rs 100 crore, while Agra Fort sees 30 lakh visitors, contributing to an annual revenue of Rs 27.5 crore.
The report says that Mecca attracts 2 crore people annually, contributing to Saudi Arabia’s annual revenue of 12 billion dollars, whereas the Vatican City, with 90 lakh visitors annually, generates an annual revenue of 315 million dollars.
According to another estimate, more than one lakh devotees are expected to visit Ayodhya everyday for Lord Ram’s darshan. This number can soon reach 3 lakh per day.
If this happens, over 10 crore devotees may visit Ayodhya annually. If each devotee spends approximately Rs 2,500 during the visit, the local economy of Ayodhya alone will add up to Rs 25,000 crore.
Notably, devotees travelling to Ayodhya are likely to visit other religious sites such as Kashi Vishwanath Temple in Varanasi and Banke Bihari Temple in Mathura.
This will also positively impact the local economies of Varanasi and Mathura.
In this way, the economy of Uttar Pradesh could receive an additional dose of nearly Rs 1 lakh crore directly each year. This direct boost could have a ripple effect on the local economy, potentially resulting in approximately five times the impact, ultimately contributing to India’s economic development.