Page 19 - CIJ June 2024 - Digital Edition

COVER STORY

The direct impact of Ayodhya’s tourism, support functions and jobs. Keeping with the country’s
religious tourism development are: developing tourism sub-sectors goals, the airports, existing and
Banks: Lenders, including and focusing on five key areas: coming up, in these religious sites
HDFC Bank, J&K Bank, and green tourism, digital tourism, are equally driven by the green
Karnataka Bank open bank destination management, skilling concept. Around 25 airports in
accounts of the Ram Mandir Trust in the hospitality sector and India are using 100 percent green
to collect donations and payments supporting tourism-related to energy while another 121 airports
for various events at the temple. MSMEs. will be made carbon neutral by
2025.
FMCG: Investments in Speaking of green tourism,
packaged water, soft drinks, and energy conservation and Environmental sustainability
fast-food services. alternative energy is a major initiatives are a must to combat
the ecological impact of tourism
focus. Praycations are now being
Hotels: Many hoteliers like Taj, powered by solar energy. There is on religious places. Afforestation
Radisson, and ITC are building 73 a major push on green initiatives drives, waste management
new hotels in Ayodhya. to promote responsible tourism systems, and eco-friendly
Real Estate: Land prices in and and to ensure that small businesses transportation options can promote
around Ayodhya have risen as high have the resources for green environmental conservation and
as 10x from 5 years ago! investments and to create local preserve the natural heritage.

Travel: Since the start
of 2024, the travel and
tourism sector has seen
a huge surge in travel
searches and bookings for
Ayodhya, sending stocks
of Thomas Cook (31.71%)
and EaseMyTrip (16.09%)
soaring in January 2024.
According to recent
reports, the T&T market in
India is expected to generate
a revenue of US$23.72bn
in 2024. The CAGR 2024-
2028 of 9.62% is expected to
result in a market volume of
US$34.25bn by 2028.
As of February 2024
report, India has over
750,000 temples; more than
600,000 mosques; 25,700
churches; 6,414 Gurudwaras,
and around 8,949 Jain
temples.
The National Tourism
Policy, 2022, aims at
improving framework
conditions for tourism
development in the
country, supporting tourism
industries, strengthening
Source: Mint & published by Market Brew (Tata Fintech)

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