Is Ayodhya emerging as a global destination brand?
BUSINESS ECONOMICS|February 1 - 29, 2024
Traditionally, sacred spaces and modern urban landscapes have been perceived as incompatible, akin to oil and water.
Shaunak Roy
Is Ayodhya emerging as a global destination brand?

However, Ayodhya's grand Ram Mandir is poised to challenge this paradigm. The temple and its surroundings should not be viewed merely as spots for divine selfies but as bustling centres for both the devout and high-flying corporates. Who would have anticipated that spirituality could yield significant economic rewards? 

Over the past decade, India has witnessed a remarkable surge in religious and spiritual tourism. Pilgrimage destinations like Haridwar, Varanasi, and Rishikesh have transformed into vibrant tourism hubs, drawing devotees from around the world. This surge not only boosts local economies but also empowers micro, small, and medium-sized enterprises (MSMEs) while fostering opportunities for intercultural exchange. India has adeptly blended spiritual awakening with contemporary tourism, making it a universal aspiration.

The Rise of the Sanatan Economy:

India's rich spiritual heritage has evolved into a potent economic force, with over 20 lakh temples weaving a dynamic economic fabric across the country. Hindu temples, serving as spiritual centers and economic catalysts, contribute 2.32% to India's GDP, valued at INR 3.02 lakh crore (approximately USD 40 billion). Religious tourism stimulates economic activity through the purchase of ritual items, offerings, and services, thereby supporting numerous livelihoods.

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