Monuments never create the formal jobs...

Statue of Unity will improve livelihood, promote job creation & tourism: PM Modi

Prime Minister Mr. Narendra Modi in his speech said that the tourist city will be developed and the jobs will be created by the statue of unity. But in India, neither monuments nor so-called tourist cities have created formal jobs. Most of the monuments are not even able to generate the revenue to overcome the expenditure. 

Data sources - Press Information Bureau, Government of India, Ministry of Culture

Except for Taj Mahal, Agra Fort and Group of monuments, Fatehpur Sikri, other monuments are struggling to generate the revenue. The revenue from Taj Mahaj is highest among all monuments. It was 21,84,88,950 Rs in 2013-14 i.e. around 21 Crore Rupees. For simplicity, let's assume that the statue of unity will generate 21 crore Rupees and so-called tourist cities will generate 41,73,16,987 Rs (It's a total expenditure on all World Heritage Monuments in India in 2013-14. I couldn't find any other proxies for revenue from tourist cities). 

Name of World Heritage Monument	2011-12	2012-13	2013-14
Ajanta Caves	17405443	8402193	9242624
Ellora Caves	4345368	14154331	9026556
Agra Fort	2168440	5151591	9888033
Taj Mahal	12900219	12651521	28575522
Sun Temple, Konark	32169898	39636120	27577338
Group of Monuments at Mahabalipuram	1615355	3881106	6412906
Churches & convents of Goa	1780000	1506643	1600000
Group of Temples, Khajuraho	3765863	3776982	4640907
Group of Monuments at Hampi	73160000	81211000	23958000
Group of Monuments, Fatehpur Sikri	2596272	26951161	25035369
Group of Temples, Pattadakal	1604348	1836553	351306
Elephanta Caves	400000	2036872	2164065
Great Living Chola Temples at Thanjavur, Gangaikondacholapuram and Darasuram	2123000	1667000	1210700
Buddhist Monuments at Sanchi	1977330	2494920	1453124
Humayun’s Tomb, Delhi	71231220	77402200	71198110
Qutub Minar Complex, Delhi.	71231220	77402200	71198110
Prehistoric Rock Shelters of Bhimbetaka	571185	350384	409653
Champaner-Pavagarh Archaeological Park	11847000	10389000	12374550
Red Fort, Delhi	68569170	68562560	60719750
Rani- Ki-Vab(The Queen’s Stepwell ) at Patan, Gujrat	1618000	1375000	4789100
Hill Forts of Rajasthan
i.                     Jaisalmer	3153521	7951166	5753020
ii.                   Chittaurgarh	2753791	4339297	5206675
iii.                  Kumbhalgarh	2459921	1888055	2389403
iv.                 Ranthambhore	1881843	1472745	1834386

Data sources - Press Information Bureau, Government of India, Ministry of Culture

Forget about jobs but how many years it will take to recover the fixed cost of developing the project?? Again for simplicity, ignore the cost part of the project.
Talking about jobs alone, how many jobs will be created by this 60 crore rupees? The total contribution of the tourist industry is around US $41,582.4 million i.e. around 291076.80 crore Rs. and that industry generates 2,34,54,400 jobs in the economy (The Travel & Tourism Competitiveness Report 2017). So if we do the simple calculation, then in given industry 1 crore Rs generates 80 jobs. So 60 crore will create 4800 jobs i.e. around five thousand jobs!!!
Now let's examine the nature of the jobs. The Travel & Tourism Competitiveness Report 2017 finds that the skilled labor is missing from given industry. There is no inadequate education supply, practice, and training. This is indirectly showing the informal nature of the tourism industry. If the government is trying to create the jobs through such project then the government is actually expanding the informal sector. Therefore it might create jobs but won't improve the livelihood. 

The secular stagnation is at corner. Fiscal policies must be restructured otherwise....