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NRIPage | Articles | Wedding Industry Sees Surge in Spending as Weddings Bounce Back in 2024 | Get Education & Training Articles. Empowering Lifelong Learning around the world - NRI Page
In 2024, the wedding industry in India has seen a resurgence in spending after the lull caused by the pandemic, with metropolitan cities driving a significant increase in demand for wedding services. Wedding budgets have grown by 6.7%, with the average expenditure reaching Rs 35.6 lakh. As wedding costs rise, so has the demand for gold and jewelry, especially due to the soaring prices of gold, which have increased from Rs 63,500 to Rs 80,000 per 10 grams.
Destination weddings, which were heavily impacted by the pandemic, have made a strong comeback, with about 26% of weddings held away from hometowns this year, up from 18% in 2022. Popular locations like Rajasthan remain in demand, but there is also a trend towards more unique, personalized wedding venues.
The growth of wedding budgets is reflected in the surge of demand for related services such as wedding photography, wedding cards, choreographers, and orchestras. Photographers, in particular, have seen a 2x increase in demand for cinematic wedding photography. Many couples are prioritizing immersive, personalized experiences, often willing to increase budgets by up to 50% to make their wedding unique.
Despite the surge in wedding spending, experts believe the industry still has room to grow, with predictions indicating a market size of Rs 10 lakh crore by 2025. Key trends for 2025 include personalized surprises, AI-driven planning, minimalist décor, and a focus on sustainability.
