Retail boom in sacred places as spiritual tourism increases: CBRE, ET Retail

NEW DELHI: With the surge in spiritual tourism, holy destinations are witnessing a retail boom across sectors such as fashion, apparel, food and beverages, hypermarkets, homewares, department stores and consumer electronics, says a CBRE South Asia report. Ta.

According to the report, Amritsar, Ajmer, Varanasi, Katra, Somnath, Ayodhya, Puri, Tirupati, Mathura, Dwarka, Bodh Gaya, Guruvayur and Madura are the major cities witnessing a retail boom.

Retail brands are embracing both mall clusters and high street locations for expansion. Additionally, local governments and businesses are working together to incorporate local practices into the design and offerings of stores, restaurants, and hotels.

The main factors influencing tourism include infrastructure improvements such as roads, airports, public transport, and accommodation facilities such as hotels, guesthouses, and wellness centres.

“Government efforts to promote tourism and improve connectivity between pilgrimage sites are further accelerating this growth. The rise of online retail platforms, which provide easy access to faith-based products and services, is also a key factor. ,” said Ayushmann Magazine, Chairman and CEO, India, Southeast Asia, Middle East and Africa, CBRE.

Restaurants, souvenir shops, and other businesses are increasing the demand for retail space.