Ayodhya’s local economy has experienced a dramatic transformation following the consecration of the Ram Temple, marking what many describe as a historic shift in the city’s financial landscape.
In just the first six months after the temple’s consecration, approximately 11 crore visitors traveled to Ayodhya, creating an unprecedented influx of devotees.
Read on to find out all about this boost in the economy!
Ayodhya’s Economic Transformation Following the Ram Temple Consecration
During this same six-month period, local shopkeepers and traders reported that their earnings increased nearly fivefold compared to earlier levels.
A detailed study called “The Economic Renaissance of Ayodhya, India: A Case Study on Sri Ram Mandir,” conducted by the Indian Institute of Management, Lucknow (IIM-L), examined and compared Ayodhya’s economic conditions before and after the temple’s construction.
The research found that property prices in areas surrounding the Ram Temple rose significantly after the project was completed.
According to the study, more than 150 new hotels and homestay accommodations have been established in the city to meet the growing demand from visitors.
Online bookings for lodging increased sharply, registering a rise of around 400 percent.
Tourism-Driven Tax Revenue in Ayodhya Estimated at ₹20,000–₹24,000 Crore
The report estimated that tax revenues generated from tourism-related activities could range between ₹20,000 crore and ₹24,000 crore.
Employment opportunities have expanded rapidly, particularly in sectors such as hospitality, construction, transportation, and other service industries.
The study observed that Ayodhya now receives an average of about two lakh devotees every day, further strengthening the city’s hospitality and allied businesses.
Looking ahead, the researchers projected that over the next four to five years, nearly 1.2 lakh direct and indirect jobs could be created across hospitality, transport, tourism, and related sectors as a result of sustained growth.
In January 2024, Industry body CAIT estimated merchandise sales, services trade, and spending around the upcoming Ayodhya Ram Mandir inauguration could touch ₹1 lakh crore – double its initial projection of ₹50,000 crore.
