Indian Economy News

Retail brands flocking to religious cities with rise in spiritual tourism.

  • IBEF
  • April 1, 2024

Retail brands are capitalizing on the growing tourism in religious cities, expanding their presence to cater to pilgrims' needs. Cities like Ayodhya, Ajmer, Katra, Somnath, Shirdi, Mathura, Bodh Gaya, and Madurai have witnessed the entry of brands like Blackberrys and Manyavar. According to CBRE, brands across various segments are tailoring their offerings to meet the needs of pilgrims, boosted by government initiatives and the rise of online platforms.

Mr. Anshuman Magazine, Chairman & CEO of CBRE, highlights the trend towards transformative experiences in urban spiritual tourism. Key cities experiencing this retail boom include Amritsar, Ajmer, Varanasi, Katra, Somnath, Shirdi, Ayodhya, Puri, Tirupati, Mathura, Dwarka, Bodh Gaya, Guruvayur, and Madurai, where brands are adapting to serve to the increasing tourist population. Enhanced infrastructure and unique retail experiences drive the surge in spiritual tourism, with major hotel chains catering to this trend. Mr. Ram Chandnani, managing director of CBRE India, hinted at the investment opportunities for the hospitality and retail sectors arising from spiritual tourism's growing popularity.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.