Skift Take
Nearly 5 million weddings could bring in some $70 billion. And luxury hotels are seeing an uptick in demand.
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India’s wedding season is around the corner, and this year, about 4.8 million weddings are expected, according to a study by Confederation of All India Traders (CAIT). That could mean revenue of $70.4 billion.
Last year, 3.5 million weddings across the nation generated $50.7 billion.
Destination weddings will account for a significant share. “Due to social media, there is more personalization of as many elements of weddings as possible. Experiences continue to count, and there is an interest in exploring new destinations, even if weddings at these places cannot be held due to lack of adequate or suitable venues,” said Parthip Thyagarajan, CEO of wedding planning portal WeddingSutra.com.
According to the survey conducted by CAIT, about 1 million weddings are expected to cost INR 1.5 million ($18,000) each, while 700,000 weddings are likely to cost INR 2.5 million ($29,800) each.
But plenty will be more pricey: 50,000 weddings are estimated to cost INR 5 million ($59,600) each, and a similar number is likely to cost INR 10 million ($120,000) or more.
Hotels Witnessing Destination Wedding Demand: In the run up to the wedding season, luxury hotels are seeing an uptick in demand. About 1 in every 4 weddings at the Ramee Group of Hotels’ properties is a destination wedding, said Saurabh Gahoi, senior vice president of Ramee Group of Hotels.
“We are seeing a significant increase in the rise of destination weddings, especially at our properties like Udaipur,