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.

Diese Geschichte stammt aus der February 1 - 29, 2024-Ausgabe von BUSINESS ECONOMICS.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der February 1 - 29, 2024-Ausgabe von BUSINESS ECONOMICS.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS BUSINESS ECONOMICSAlle anzeigen
Deposit shortage: challenges facing India's banking ecosystem
BUSINESS ECONOMICS

Deposit shortage: challenges facing India's banking ecosystem

In any macroeconomic framework, the household sector plays a critical role as a driver consumption, savings, and overall economic activity.

time-read
4 Minuten  |
November 01 - 30, 2024
India's future dreams in Semiconductors & AI
BUSINESS ECONOMICS

India's future dreams in Semiconductors & AI

A midst the gloom of the RG Kar affair or the Tirupati laddu scam or even the continued terrorist attacks in Jammu & Kashmir, even after the completion of the first general election in the state, we find hope and encouragement when the founder of Nvidia, Jensen Huang, in his recent visit to India says \"India will be a gigantic opportunity for us\".

time-read
2 Minuten  |
November 01 - 30, 2024
The Ramayana: Justice and Modern Man
BUSINESS ECONOMICS

The Ramayana: Justice and Modern Man

Consisting of Twenty-Four Thousand worthy Sanskrit verses, the Ramayana is one such epic, which provides a pathway to one committed to justice to establish himself as an ideal human being by following the exemplary life of its hero.

time-read
6 Minuten  |
November 01 - 30, 2024
Vallabhbhai Patel: A Sardar of Farmers, A Matchless Social Reformer and the Maker of United India
BUSINESS ECONOMICS

Vallabhbhai Patel: A Sardar of Farmers, A Matchless Social Reformer and the Maker of United India

Sardar Vallabhbhai Patel was instrumental in unifying the princely states to form the Union of India.

time-read
5 Minuten  |
November 01 - 30, 2024
Understanding Prosperity: NOBEL Prize awarded for groundbreaking research on institutions and economic development
BUSINESS ECONOMICS

Understanding Prosperity: NOBEL Prize awarded for groundbreaking research on institutions and economic development

The Royal Swedish Academy of Sciences has awarded the Memory of Alfred Nobel to three US-based economistsDaron Acemoglu, Simon Johnson, and James A. Robinson\"for their studies on how institutions are formed and affect prosperity.\"

time-read
2 Minuten  |
November 01 - 30, 2024
Sinking Resources: Groundwater crisis and sustainable solutions in Kolkata
BUSINESS ECONOMICS

Sinking Resources: Groundwater crisis and sustainable solutions in Kolkata

Kolkata's underground water crisis is becoming a serious issue, driven by rapid urbanization and the construction of high-rise buildings.

time-read
4 Minuten  |
November 01 - 30, 2024
Tourism Industry positively impacted by the festive season
BUSINESS ECONOMICS

Tourism Industry positively impacted by the festive season

Diwali transforms streets into a spectacle of festive lights, Diwali transforms streets into olis, and families gearing up for grand celebrations.

time-read
2 Minuten  |
November 01 - 30, 2024
RBI's Shift to a Neutral Stance: Signaling a New Phase in Monetary Policy
BUSINESS ECONOMICS

RBI's Shift to a Neutral Stance: Signaling a New Phase in Monetary Policy

For over a year, the Reserve Bank of India (RBI) has taken a firm stance against inflation, raising interest rates by 250 basis points between May 2022 and February 2023 in response to post-pandemic price pressures.

time-read
1 min  |
November 01 - 30, 2024
UK Budget
BUSINESS ECONOMICS

UK Budget

There _ he latest UK budget represents a departure from previous fiscal documents.

time-read
2 Minuten  |
November 01 - 30, 2024
Han Kang's Historic Nobel Prize Win
BUSINESS ECONOMICS

Han Kang's Historic Nobel Prize Win

The 2024 Nobel Prize in Literature has been awarded to T South Korean writer Han Kang, 53, known for her works including The Vegetarian, The White Book, Human Acts, and Greek Lessons.

time-read
2 Minuten  |
November 01 - 30, 2024