Spiritual tourism surges as improved infrastructure sparks cultural connection

Spiritual tourism surges as improved infrastructure sparks cultural connection

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  • January 21, 2024
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SBI Research in a report stated that improved infrastructure and accessibility in spiritual tourism have increased the potential of tourism in the country, allowing people to connect with rich heritage and culture.

In a report titled, “Where Latin America meets Scandinavia: The Road to Salvation passes through Uttar Pradesh,” it said, “Spiritual tourism and the resultant pivot in the psyche of the common men and women wishing to re-connect with the unparallelly rich heritage and culture of the country has upended the potential of tourism exponentially as better physical and digital infrastructure has made connectivity accessible to all, from means of commuting to gateways of communication at the fingertip nudging people to travel and connect with our history more meaningfully.

Citing estimates by the state government, the report stated that around 32 crore tourists visited the state in 2022, with an impressive footfall of 2.21 crore in Ayodhya alone. The total expenditure by these tourists exceeded 2 lakh crore.

The state with its numerous holiest places and shrines, such as the Ganga River, Varanasi, the Taj Mahal and now the new Ram Temple in Ayodhya, has experienced a remarkable upswing in domestic tourism

Further, it stated that the spending by foreign tourists was around 10,500 crore in India, with the UP ranking fifth in terms of foreign visitor numbers.

It is estimated that with the completion of Ayodhya Ram Mandir this year and a melange of initiatives taken by the UP government to promote tourism, the total expenditure by tourists in the state is likely to cross 4 lakh crore mark by the end of 2024. This would help the state government earn an additional tax revenue of 20,000-25,000 crore due to a huge spurt in number of tourists during FY25.

As India is expected to achieve the $5 trillion economy by FY28, the country needs to grow by a CAGR of 8.4 per cent till 2027 (in dollar terms) which translates into 11.0-11.5 per cent nominal GDP growth per annum.

The report further added that Maharashtra and Uttar Pradesh to break the $500  billion threshold and contribute 10 per cent to India’s GDP. 

“UP will be one of the two states which will break the $500 billion mark in 2027 (or FY28) when India achieves the 3rd place in the global economy. The GDP size of major Indian states in 2027 will be more than the size of some of the European countries like Norway, Hungary, etc”

 

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Published: 21 Jan 2024, 11:49 AM IST

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