Hotspot Ayodhya to see 50 mn tourists: Jefferies – Industry News

The consecration of the Ram Mandir is a landmark moment in India’s cultural history and offers many opportunities to the tourism sector to flourish, according to a report by Jefferies.

India’s latest religious tourist hotspot is expected to attract more than 50 million tourists a year, says the brokerage firm. A $10-billion (close to Rs 85,000-crore) makeover comprising a new airport, and revamped railway station, among others, will likely drive a multiplier effect, leading to new hotels and other economic activities, the report says.

In addition, the report also sees the temple town as India’s answer to Mecca and the Vatican, with all three being of religious, cultural and historical significance. The annual estimated footfall at Vatican City is 9 million, while it is 20 million at Mecca, which means Ayodhya will surpass the two global tourist destinations in terms of tourists. Mecca sees an estimated $12 billion in annual revenue, while for the Vatican, it is $315…