00:00 The grand opening of the Ram Temple in Ayodhya by Prime Minister Narendra Modi is expected
00:10 to have a tremendous economic impact on the region.
00:13 According to brokerage firm Jefferies, this landmark event is set to transform Ayodhya
00:19 into a global religious and spiritual tourist hotspot.
00:22 That's right.
00:23 Jefferies predicts that the makeover will attract over 50 million tourists annually.
00:29 It is to be noted that the project includes a $10 billion investment in a new airport,
00:35 revamped railway station, township, improved road connectivity and more.
00:40 The firm believes this will drive a multiplier effect, leading to the development of new
00:45 hotels and various economic activities.
00:48 Before the pandemic, tourism contributed $194 billion to the GDP in the fiscal year 2019.
00:54 Jefferies anticipates that with this makeover, the tourism industry will grow at an 8% CAGR
01:01 to reach $443 billion by the fiscal year 2033.
01:05 Currently, the tourism to GDP ratio in India stands at 6.8%, trailing behind other major
01:12 emerging and developed economies.
01:14 According to Jefferies, multiple sectors stand to gain, including hotels, airlines, hospitality,
01:20 FMCG or fast-moving consumer goods, travel ancillaries, cement and more.
01:26 The increased economic and religious migration to Ayodhya is expected to boost these sectors
01:31 significantly.
01:32 The first phase of the Ayodhya airport has become operational at $175 million, with an
01:39 international terminal expected by 2025.
01:42 The airport can currently handle 1 million passengers and is planned to accommodate 6
01:47 million with the completion of the international terminal.
01:50 The railway station has also been upgraded, doubling its capacity to handle 60,000 passengers
01:56 per day.
01:57 Additionally, a 1,200-acre Greenfield Township is in the works and road connectivity is being
02:02 improved.
02:03 Jefferies notes that India, which was ranked the seventh most beautiful country by Forbes
02:09 in 2022, already boasts 42 UNESCO World Heritage Sites, ranking sixth globally.
02:16 The country, with its unique landscapes, including hot and cold deserts, remains one of the top
02:21 destinations for tourists.
02:23 .
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