Ram Temple in Ayodhya to lead infra-driven growth for tourism with over 50 million visitors a year: Jefferies

Jefferies reckons that the opening of the Ram Temple in Ayodhya, Uttar Pradesh will have a large economic impact as the country gets a new tourist spot that could attract more than 50 million tourists every year. According to the foreign brokerage, the development will also set a template for infrastructure-driven growth for tourism in the country as a $10-billion makeover of a new airport, a revamped railway station, and improved road connectivity, among others, are likely to drive a multiplier effect with new hotels and other economic activities. 

Which sectors are likely to benefit from the grand opening of the Ram Temple in Ayodhya?

Jefferies expects growth in multiple sectors on the back of a surge in tourism, and increased economic and religious migration to the city, including.  

• Hotels 
• Airlines 
• Hospitality companies 
• FMCG companies 
• Travel ancillaries 
• Cement makers 

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Companies set to benefit from the opening of the Ram temple at Ayodhya:

Here’s a list of some of the companies that have benefitted or are set to benefit from the Ram Mandir inauguration:  

• Indian Hotels Co has signed contracts for two new properties in Ayodhya which will be operational in 2027. 
• ITC Hotels is exploring opportunities in Ayodhya.
• OYO Rooms will add 1,000 hotel rooms in Ayodhya. 
• Restaurant Brands Asia (RBA), Devyani International and Jubilant Foods are either in discussions to set up outlets or have already begun setting up outlets. 
• Burger King has set up one store in the city centre in the first half of 2023. 
• IndiGo has announced direct flights to Ayodhya from Delhi, Ahmedabad and Mumbai. 
• Air India has announced direct flights to Ayodhya from Bengaluru, Kolkata, and Delhi. 
• Spicejet and Akasa Air have also announced flights connecting Ayodhya with other cities. 
• IRCTC has announced Ayodhya tour packages.  

Besides, other likely beneficiaries of the historic opening include EIH Ltd, Britannia Industries, Godrej Consumer, Westlife Foodworld, Hindustan Unilever, Sapphire Foods, MakeMyTrip and EaseMyTrip. 

Ayodhya expects 50-100 million visitors in Ayodhya every year.

Jefferies expects Ayodhya to beat Vatican City and Mecca, Saudi Arabia, in terms of footfall. The brokerage expects 50 million-100 million people to visit Ayodhya, much higher than Vatican City's nine million and Mecca's 20 million.  

How does India fare globally in international tourist arrivals? 

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