Massive Influx of Devotees Predicted to Boost State Economy
The consecration ceremony of the Ayodhya Ram Temple is expected to usher in a significant economic windfall for Uttar Pradesh, with estimates suggesting a potential surge in tax collections and unprecedented growth in the state's overall wealth. According to a recent research paper by SBI Research, the opening of the Ram temple and associated tourism initiatives could result in tax collections of up to Rs 5,000 crore in the fiscal year 2024-25.
The report highlights Ayodhya as a pivotal factor in this economic upswing, predicting that Uttar Pradesh stands to gain a staggering Rs 4 lakh crore in the coming year, positioning the state as a major economic force. Foreign stock market research firm Jefferies further anticipates that Ayodhya could surpass renowned religious destinations like Vatican City and Mecca, drawing an estimated 5 crore devotees annually.
Comparing potential revenues, the report notes that Ayodhya's annual income could outshine other prominent religious sites in India. For instance, Tirupati Balaji in Andhra Pradesh, which attracts 2.5 crore devotees annually, generates Rs 1,200 crore. Vaishno Devi, with 80 lakh annual visitors, accrues an annual revenue of Rs 500 crore. Even the iconic Taj Mahal in Agra, drawing 70 lakh visitors annually, contributes Rs 100 crore to the economy, while Agra Fort sees 30 lakh visitors, bringing in Rs 27.5 crore annually.
Internationally, Ayodhya is poised to become a major pilgrimage site, potentially rivaling Mecca and Vatican City. Mecca attracts 2 crore visitors annually, contributing $12 billion to Saudi Arabia's revenue, while the Vatican City, with 90 lakh visitors, generates a revenue of USD 315 million.
Government officials estimate that over one lakh devotees are expected to visit Ayodhya daily, with projections suggesting this number could soon rise to 3 lakh. With an average expenditure of Rs 2,500 per devotee, Ayodhya's local economy alone is anticipated to witness a substantial boost, potentially reaching Rs 25,000 crore.
Moreover, the anticipated influx of devotees to Ayodhya is expected to positively impact other religious sites in Uttar Pradesh, such as the Kashi Vishwanath Temple in Varanasi and the Banke Bihari Temple in Mathura. This, in turn, could lead to an additional economic injection of nearly Rs 1 lakh crore annually, contributing to both regional and national economic development.
A tourism department official emphasized that religious tourism has the potential to create new employment opportunities in sectors like transportation, hotels, and the production of local goods. Drawing parallels with economically developed nations like Switzerland, Italy, France, America, and the UAE, he expressed optimism that India, with the inauguration of the Ayodhya Ram Temple, is set to join the ranks of nations that have achieved significant economic development through tourism.
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