Tourism contributed USD 194 billion to FY19 (pre-Covid) GDP and is expected to grow at an 8 per cent CAGR to USD 443 billion by FY33, it said, adding tourism to GDP ratio in India at 6.8 per cent of GDP is below most of the large emerging/developed economies; which are higher by 3-5 percentage points.
Stating that Ayodhya could be a template for India’s tourism boost, it said Rs 85,000 crore (USD 10 billion) makeover is set to transform the ancient city from a sleepy town to a global religious and spiritual tourist hotspot.
“Tourism is projected to surge and increase economic and religious migration to Ayodhya, multiple sectors stand to benefit, including hotels, airlines, hospitality, FMCG, travel ancillaries, cement etc,” the brokerage said.
Phase 1 of a new airport at Ayodhya has become operational and can handle 1 million passengers.
Additional domestic capacity and an international terminal is expected by 2025 with a capacity to handle 6 million passengers.
Railway station has been upgraded to double the capacity to 60,000 passengers per day.
A 1,200-acre greenfield township is being planned and road connectivity is being beefed up as well.
