AYODHYA 2.0: Faith, Tourism and the Next Investment Capital

 The Sacred City Recorded 300 million Visitors in 2025, Nearly 47x Vatican City's Footfall

MUMBAI, India, Oct. 14, 2026 /PRNewswire/ -- Liases Foras, an independent real estate research firm, has released its latest report titled 'Ayodhya 2.0: Faith, Tourism and the New Investment Capital', examining the city's rapid evolution following the consecration of the Shri Ram Janmabhoomi Mandir on 22 January 2024. According to the report, Ayodhya is emerging as India's Spiritual and Investment Capital, recording around 300 million visitors in 2025, compared with around 6 million in 2020 and 164 million in 2024.

The report tracks the growth of Ayodhya's visitor economy alongside infrastructure development, hospitality expansion and changes in the real estate market. What began as a pilgrimage surge is increasingly evolving into a broader economic story, supported by longer visitor stays, improved connectivity and a more vibrant visitor economy.

Key findings from the report:

• The Ayodhya Development Authority's Master Plan 2031 carries a total committed outlay of ₹85,000 crore, covering airport and rail expansion, roads, the Sarayu riverfront, public infrastructure and a 1,407-acre New Ayodhya township.
• More than 1.2 lakh new jobs have been reported across hospitality, retail and construction since 2024, with Ayodhya estimated to contribute approximately 1.5% of Uttar Pradesh's GSDP.
• More than 50 major hotel projects are currently under construction, including Taj, Marriott, Radisson, Oberoi, Leela and Ginger, against an existing organised hotel inventory of around 1,200 rooms.
• Average visitor stays have increased to around 2–4 days, with the report projecting stays of 5–7 days by 2030–35 as spiritual circuits, cultural tourism, wellness, festivals and riverfront activities expand.
• Land prices have appreciated by 25%–40% across the city since 2019, while areas immediately around the Ram Mandir have recorded increases of 5–10 times. Prime-corridor rates are projected to reach approximately ₹37,300 per sq ft by 2031, representing 2.5x growth over the next five years.
• Average daily earnings of small shopkeepers have increased from ₹400–500 to around ₹2,500, while additional annual GST revenue linked to the tourism boom is estimated at approximately ₹400 crore.

The findings also highlight how Ayodhya's tourism economy is broadening beyond pilgrimage, with longer visitor stays, growing interest in wellness, cultural and riverfront experiences, and increasing demand for hospitality, residential and plotted developments. The report expects this expansion to continue through 2035, with the city gradually moving from the initial post-consecration surge towards a more established urban and tourism economy.

Connectivity has also emerged as a major driver of Ayodhya's transformation. The Maharishi Valmiki International Airport now connects the city to major metros, with its Phase II expansion expected to increase annual passenger capacity to 6 million. The redeveloped Ayodhya Dham Junction can handle more than 60,000 passengers daily, while the 67-km Ayodhya Ring Road, ₹12,000 crore NHAI regional road-widening program and Ramayana Circuit are expected to further strengthen regional and intra-city access.

This improving accessibility is also supporting the emergence of new real estate segments. Second homes and branded residences are emerging as new demand categories, alongside wellness, cultural and riverfront experiences, as visitor stays extend beyond single-day pilgrimage.

"Ayodhya's tourism growth is not simply increasing visitor numbers. It is creating a wider economic base across hospitality, retail, transport and real estate. With infrastructure capacity expanding and visitor stays expected to lengthen, the city is moving towards a more diversified tourism and property market. The combination of sustained visitor demand, rising hospitality supply and continued infrastructure investment is expected to support long-term demand across residential, plotted and hospitality-led developments," said Mr. Pankaj Kapoor, Managing Director, Liases Foras.

Over the next decade, Ayodhya is expected to transition from rapid infrastructure-led expansion to a more established tourism and urban economy. As the Master Plan progresses, hospitality supply expands and visitor patterns mature, the city is expected to see sustained demand across tourism, residential and commercial segments, with repeat visitation playing a larger role in the market by 2035. The transformation underway today is therefore not just about accommodating more visitors, but about building the infrastructure, economic ecosystem and investment opportunities to support Ayodhya's next phase of growth.

About Liases Foras

Liases Foras is India's premier independent, non-broking real estate research company. With no brokerage or development interests, the firm has provided impartial, data-driven market intelligence to investors, financial institutions, and policymakers since 1998. The full report "AYODHYA 2.0: Faith, Tourism and the Next Investment Capital" is available upon request.

Media Contact - Liases Foras Real Estate Rating & Research Pvt. Ltd.
M: +91 9833344500 | [email protected] | www.liasesforas.com

Download the report: https://bit.ly/4imKlZ1