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CONTENTS

4 10 14 18 26 30 32
Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7

THE BIG FAT SMALL IS THE EMERGING MILLENNIALS EXTRAVAGANT DESTINATION THE IMPACT OF
INDIAN NEW BIG BUSINESS ARE WEDDINGS CITIES ENTERTAINMENT
WEDDING OPPORTUNITIES TRANSFORMING ARE THEY TOP MATCH INDUSTRY
WITHIN INDIA’S $50 REALLY
THE WEDDING BILLION NECESSARY?
INDUSTRY WEDDING
INDUSTRY
 1

The Big Fat

ACCORDING TO THE FUTURE MARKET INSIGHTS,
THE GLOBAL DESTINATION MARKET GREW FROM
US$7484.9 MN IN 2016 TO US$ 16779.0 MN IN 2020.

INDIAN THE MARKET IS EXPECTED TO GROW

Wedding
FROM US$ 21590.4 MN IN 2021 TO US$
290,550.5 MN BY 2

I n today’s day and age, a

lavish wedding affair is
more of a desired
necessity, which is why
India is witnessing a huge
increase in the
destination wedding
scene. According to Future Market
Insights, the global destination market
grew from
US$7484.9 Mn in 2016 to US$ 16779.0 Mn
in 2020. The market is expected to grow
from US$ 21590.4 Mn in 2021 to
US$ 290,550.5 Mn by 2031.
The major factors for the growth of the
industry are the rise of the middle class,
booming economy and celebrity
endorsements. If there is one event on
which the Indian community spends
massively and doesn’t shy away from
going into debt for; it is weddings. The
wedding function itself is a chance for a
Image Courtesy: Akansha Kumar and Varun Peri
family to display its wealth and status as
 1

IF THERE IS ONE EVENT

ON WHICH THE INDIAN
COMMUNITY SPENDS
MASSIVELY AND DOESN’T
SHY AWAY FROM GOING INTO
DEBT FOR; IT IS WEDDINGS.
THE WEDDING FUNCTION
ITSELF IS A CHANCE FOR

Image Courtesy: Akansha Kumar and Varun Peri

A FAMILY TO DISPLAY ITS
WEALTH AND STATUS AS
PART OF A WIDER SOCIAL
CIRCLE. FROM WEDDING
THEMES, LOCATIONS, FOOD
AND DRINKS, GIFTS, THE
GAME OF DISPLAY IS AT
ITS PEAK DURING SUCH
EVENTS. AN INCREASE IN part of a wider social circle. From wedding
THE LEVELS OF EDUCATION themes, locations, food and drinks, gifts,
the game of display is at its peak during
AND INCOME HAS LED TO such events. An increase in the levels of
education and income has led to a
A GREATER EXPOSURE TO greater exposure to wedding trends
among the middle-class Indian consumer.
WEDDING TRENDS AMONG Destination weddings are now on the top
of these events to showcase their wealth.
THE MIDDLE-CLASS INDIAN The Indian middle class is expected to
CONSUMER. DESTINATION become the world’s
fifth-largest consumer market by 2025.
WEDDINGS ARE NOW ON Indian millennials are eager to invest in
more ‘curated weddings’, and exotic
THE TOP OF THESE EVENTS locations.

TO SHOWCASE THEIR
WEALTH.
Image Courtesy: Krishma Sood Bojwani and Dhiraj Bhojwani
 1

IN 2022, THE AVERAGE COST

OF A DESTINATION WEDDING
HOVERS AROUND $35,000. THIS
MIGHT DIFFER DEPENDING
ON THE LOCATION,
NUMBER OF DAYS,
NUMBER OF EVENTS,
TIME OF THE YEAR,
NUMBER OF GUESTS,
AND EXCHANGE
RATES ETC.

Leading hoteliers say, a wedding in luxury

properties is usually a 2-3 days affair. The
entire cost including the accommodation,
meals for guests, entertainment and the
events- is $133,358-200,000 (INR 1-1.5 Cr).
The average estimated baseline cost of a
destination wedding hovers around
$35,000 (INR 26 lakh).

Source:
https://www.entrepreneur.com/article/332959
https://timesofindia.indiatimes.com/business/india-business/
luxury-destination-weddings-
back-in-india/articleshow/81303014.cms
Image Courtesy: Samode Palace
 12

SMALL Is the

T
THE NEW AGE MILLENNIAL
COUPLES PREFER EXPERIENCES

NEW BIG
OVER LARGER-THAN-LIFE GRAND
AFFAIRS. THEIR PREFERENCES HAVE
DRASTICALLY CHANGED FROM THE
TRADITIONAL WEDDINGS
TO EXOTIC YET SIMPLE
ARRANGEMENTS AND
AESTHETICALLY
APPEALING DECOR.

he new age millennial couples prefer

experiences over largerthan- life grand
affairs. Their preferences have drastically
changed from the traditional weddings to
exotic yet simple arrangements and
aesthetically appealing decor. If there’s one
thing millennials are absolutely sure of, it is
their idea of happiness - one that isn’t
focussed on material things or career
status. They believe in living a meaningful
life where they are happy about creating,
sharing, and capturing memories made
through experiences. As per a study done
by Eventbrite, of all millennials, 78% said
they would rather spend their money
on a desirable experience than a desirable
possession. And this focus on experience
construes directly to the wedding industry.
More millennials are opting for destination
weddings because the experience tops the
gifts received at a big fat wedding reception
at home. With the reduced guest list,
couples can now invest in their dream
weddings with a decent budget.
Social media has become a major player.
In the last 10 years, weddings have become
more personal to the couple and less
traditional. The biggest shift that has been
noticed over the last decade is that couples
are wanting to ‘brand’ their weddings, and
create a wow-moment for themselves and
their limited guests.

Image Courtesy: Akansha Kumar and Varun Peri

 2

THE SPENDING HABITS NUMBER OF GUESTS

HAVE CHANGED. 150
MILLENNIAL AND
100
GEN Z COUPLES HAVE
MORE DISPOSABLE 50

INCOME THAN EVER 0

2019 2020 2021
BEFORE, WHICH
MEANS THEY ARE NOT
RELYING ON THEIR The spending habits have changed.
Millennial and Gen Z couples have more
PARENTS FOR THE disposable income than ever before, which
means they are not relying on their
CASH INFLOW. HENCE parents for the cash inflow. Hence more
MORE CURATED curated and customised/ themed
weddings are in demand.
AND CUSTOMISED/ The average guest count has gone down.
According to The Knot Real Weddings
THEMED WEDDINGS Study, the average wedding size in 2021
increased to 105 guests from 66 guests in
ARE IN DEMAND. 2020 and 131 guests in 2019.
Intimate weddings are less stressful to
THE AVERAGE GUEST plan. They allow you to think outside the
COUNT HAS GONE box, you have to host, feed and entertain
less people and be more creative with
DOWN. ACCORDING venue and vendor options.
They allow the couples to focus on
TO THE KNOT REAL what’s important, inviting a handful of
people who matter to them the most and
WEDDINGS STUDY, actually spending quality time with each of
THE AVERAGE them.

WEDDING SIZE IN
2021 INCREASED TO
Source:
105 GUESTS FROM 66 https://eventbrite-s3.s3.amazonaws.com/marketing/Millenni-
als_Research/Gen_PR_Final.pdf

GUESTS IN 2020 AND https://www.reminiscentstudio.in/wedding-planning/how-wed-

dings-have-transformed-in-the-last-decade/

131 GUESTS IN 2019. Image Courtesy: Noon Moon Events

https://medium.com/@discjockeysnow/the-rise-in-destina-
tion-weddings-facts-and-advantages-explainedc99091af2e0f
image - https://in.pinterest.com/pin/421649583842983777/
 13

EMERGING
BUSINESS
OPPORTUNITIES
WITHIN THE
WEDDING
INDUSTRY

T
WEDDING PLANNERS:
he grand spectacle of the ‘Big Fat Indian Wedding’ comprising
extravagant ceremonies represents a growing market in India. The
recession proof industry is estimated to be a $40 billion opportunity.
With all the hype surrounding this segment and the craze among
Indians for a memorable one, the industry is expected to grow at 20
per cent per year. Employment opportunities go along with this trend
of fancy Indian weddings. From fashion designers, event planners, florists to caterers, an
efficient team is indispensable to make weddings truly incredible.

The new-age event management companies are taking over the wedding industry in India,
wedding planners cater to all needs and oversee the smooth functioning of the ceremony. The
Image Courtesy: Akansha Kumar and Varun Peri

wedding planning market is expected to grow at a steady rate during the period of 2021-2025.
CATERERS:
New trends such as fusion food andcountless wedding invitees catering in India have seen
tremendous boom in recent years. The Indian catering industry alone is estimated to be at INR
15,000 crore, with a lot of young talented people entering this profession. There is a high
demand for professionals from culinary schools as well as hospitality professionals leading to the
growth of this Industry as a whole.
TRAVEL PLANNERS:
The last few years have seen a sharp rise and growth for destination weddings in India. Due to this
rising trend, travel and tourism management is now a significant component in wedding planning.
Experienced graduates would, therefore, be an invaluable addition for the wedding planning and
event management companies to help organize the ceremony in exotic locations.
DESIGNERS AND MAKEUP ARTISTS:
Changing trends in fashion leads to numerous ‘bridal collections’ launched every wedding season.
Although these collections have been available at a steep price this industry has seen many new
players enter the market. Theme based parties and shenanigans require not only the bride and
groom but also the guests to be dressed up for the occasion. The wedding day is the day of the
bride. In order to look her absolute best, professional make-up artists are hired and also, with the
growth of social media, the obsession to have the perfect outfit for brides is a potential business
opportunity for designers and makeup stylists to boost huge capital in this segment. Designers
and makeup professionals are key elements within the India wedding industry.
3

The wider fashion industry has also THE AVERAGE CLOTHING BUDGET FOR A WEDDING IN
recognised the direction of the wind of the
wedding industry and taken steps to cash INDIA IS $375,500. WEARING AN EXCLUSIVE SARI
FOR THE EVENT CAN COST AS MUCH AS $110,000.
in on this growing trend. The Indian
wedding and fashion industries exist in a

UP TO 80% OF A DESIGNER’S BUSINESS IN INDIA

symbiotic state of being. What benefits one
will always boost the other as well, and vice

COMES FROM BRIDAL COUTURE.

versa. Both industries are well aware of this
relationship and have constantly moved to
strengthen this state of affairs. In doing so
they have cemented themselves as a vital
cog in India’s economic story, and are set
to dominate the nation’s fashion industry
for decades to come.
This has also translated to more year-
round employment. Tahiliani is hunting for
more factory space, having added 500
embroiderers and a few hundred other
positions in related skills. Anita Dongre now
has an annual turnover of over 700 crores
(£82.2 million), after her bridal business
grew 30 per cent in the last year.
Sabyasachi’s eponymous brand had a
revenue of INR 253 crore in FY 2019 and
INR 274 crore in FY 2020.

Source:
https://m.dailyhunt.in/news/india/english/entrepreneur+in-
dia-epaper-entrprnr/emerging+business+opportunities+with-
in+the+wedding+industry-newsid-142292806
https://kenresearchreport.wordpress.com/2016/02/25/in-
dia-wedding-market-outlook-to-2020-focus-on-onlinematch-
making-and-wedding-planning-segment/
https://www.entrepreneur.com/article/340894
https://ciceroni.in/Lounge/bridal-shopping-guide-in-surat/
Image Courtesy: Noon Moon Events
 14

EUROMONITOR INTERNATIONAL FORECASTS THAT

INDIA’S $1 BILLION LUXURY FASHION SEGMENT
WILL REGISTER A 20.3% COMPOUNDED
ANNUAL GROWTH RATE OVER
THE NEXT FIVE YEARS.

T
MILLENNIALS ARE
TRANSFORMING
INDIA’S $50
BILLION
WEDDING he $50 billion Indian wedding market has

INDUSTRY
had to revamp. The reward for getting it
right is immense: Half of India’s 1.3 billion-
strong population is under the age of 30,
incomes are growing, and the ubiquity of
social media has led to a showcase of
aspirational weddings on Instagram.
Euromonitor International forecasts that
India’s $1 billion luxury fashion segment
Image Courtesy: Akansha Kumar and Varun Peri

will register a 20.3% compounded

annual growth rate over the next five years.
The high-end jewellery category is
expanding almost as fast.
Tourism is also a potentially large
employment generator besides being a
significant source of foreign exchange for
the country. In FY20, 39 million jobs were
created in the tourism sector in India; this
accounted for 8.0% of the total
employment in the country. The number is
expected to rise by 2% annually to 52.3
million jobs by 2028.
 4

According to WTTC, India ranked 7th in

terms of travel and tourism total
contribution to GDP in 2021.
During 2020, travel and tourism
THE GLOBAL BUSINESS
contributed around 121.9 billion US dollars TRAVEL ASSOCIATION
which is expected to reach 512 billion
dollars in 2029. (GBTA) PREDICTS THAT
International hotel chains are increasing
their presence in the country, and it will 15 YEARS FROM NOW,
account for around 50% by 2022.
India was globally the third largest in terms INDIA WILL LIKELY BE
of investment in travel and tourism with an
inflow of US$ 45.7 billion in 2018,
A TOP-THREE MARKET
accounting for 5.9% of the total investment IN BUSINESS TRAVEL
in the country.
Hotel and Tourism sector received SPENDING. INDIA IS ONE
cumulative FDI inflows of US$ 15.57 billion
between April 2000 and September 2020. OF THE FASTEST GROWING
TRAVEL MARKETS IN THE
WORLD AND BUSINESS,
MICE AND LUXURY TRAVEL
MARKETS ARE GROWING
AT A VERY FAST PACE.
“TOP CORPORATES, FILM
PRODUCTION HOUSES AND
DESTINATION WEDDING
PLANNERS IN INDIA
CONTRIBUTE TO MOST
OF THIS BUSINESS AND
ARE KEEN TO EXPLORE
NEWER DESTINATIONS –
DOMESTIC AS WELL AS
INTERNATIONAL,”.

Image Courtesy: Noon Moon Events

 14
MILLENNIALS ARE THE LARGEST
GENERATION IN THE LABOR FORCE OF THE
WORLD AND WILL COMPRISE
MORE THAN 75% OF THE
WORKFORCE BY 2025.
Image Courtesy: Noon Moon Events
THE TREND OF BIZ-CATIONS IS CATCHING UP
FOR YOUNG WORKING PROFESSIONALS AND WEARY
MILLENNIALS AND GEN Z ARE EXTENDING
OFFICIAL TRIPS BY A FEW DAYS TO
EXPLORE A PARTICULAR DESTINATION.
Experts believe, India has good offerings in
terms of MICE and destination weddings
segments, the biggest challenge that we
face is, everyone has their own PNLs and
their own targets to meet. So a lot of
undercutting happens. The industry just
needs to come together and work as one.
Millennials are also driving the most
important trends in the travel industry.
According to Thomas Cook, India has seen
a growth of nearly 50% among young
travellers who are opting for experiential
holidays. Millennial footfall is also rising in
cruising. As against 2018, millennial
cruising rose to 86% in 2019, and this trend
is only going to grow further in the future.
Travelprofessionalnews.com (Millennial-
Traveller-executive-summary.pdf, 2014)
claims that 87% of millennial travellers look
to Social Media for travel inspiration for
their next adventure. Social Media
continues to be one of the largest
influences on the type of vacation a
Millennial may book.
The Tourism industry is unleashing its
potential to recognize the expectation of
millennial travellers and is prepared to
cater to their customized needs. In this
regard it has been observed that presence
on the social networking site enhances the
accessibility of the product “Social
networking sites are very important to
attract a larger audience with easy
accessibility. It is a combination of both
audio visuals which has more convincing
power. Younger generations make the
highest ratio of consumers, as they often
use social media”.
 4

AS NEARLY 57% OF THE YOUTH

ASPIRES TO TRAVEL THE WORLD, DETAILED SURVEY
TRAVELLING IS FINDINGS:
THE TOPMOST AMBITION FOR
THIS YOUNG GENERATION. The holidaying millennial!
AT LEAST - AT LEAST -
ONCE EVERY YEAR ONCE EVERY YEAR

71% 91%
take a holiday take a holiday
in India in India
22% 51%
take a holiday take a holiday
abroad abroad

31% 44%
take for business take for
abroad business abroad

Image Courtesy: Akansha Kumar and Varun Peri
Source:
Expedia Survey 2017
Image - https://www.ibef.org/uploads/industry/Tour-
ism-and-Hospitality--Sector-Chart-January-2021.jpg
https://www.ibef.org/industry/tourism-hospitality-india.aspx-
#:~:text=In%20FY20%2C%2039%20million%20 jobs,52.3%20
million%20jobs%20by%202028
 15

EARLIER ONLY THE ELITE WERE KNOWN FOR

ORGANISING SUCH LAVISH AFFAIRS BUT
TODAY A NEW CONSCIOUSNESS HAS
BEEN SEEN IN THE UPPER MIDDLE-CLASS
AS WELL AND THEY TOO DESIRE TO
HAVE GRAND CELEBRATIONS

A
EXTRAVAGANT
WEDDINGS
ARE THEY
REALLY ccording to a report by New World Wealth,

NECESSARY?
India was home to around 2,36,000 High
Net Worth individuals (HNWIs) in 2015 and
this number is set to grow by 135 per cent
to reach around 5,54,000 by 2025. It is no
wonder then that National Tourist Offices
(NTOs) have been promoting themselves
for destination weddings bearing in mind
that the market is one that can afford the
extravaganza.
To say that destination weddings are just
for the upper class could be wrong. The last
few years have seen some major changes
in terms of wedding expenditure in terms
of grandeur. Earlier only the elite were
known for organising such lavish affairs but
today a new consciousness has been seen
in the upper middle- class as well and they
too desire to have grand celebrations.
Globally wedding tourism has seen a
growth of 400% in the past 10 years.
Image Courtesy: Akansha Kumar and Varun Peri
5
SIZE OF WEDDINGS USERS
PLANNED WITH THE INTERNET PERMEATING MORE
Had a>100 Guests DEEPLY INTO OUR DAILY LIVES, A BIG FAT
Intimate Wedding INDIAN WEDDING ALSO
22.2%
32.1% 32.1%
22.2% CREATES UNREALISTIC
EXPECTATIONS OF EVERYTHING A
3.8% PERFECT WEDDING ‘MUST
Small HAVE’. SIZE OF WEDDINGS
Original Plan 42.0% PLANNED 2021-22
Ceremony
42.0% 3.8%
More often than not, middle class people
also get sucked into this vortex of
extravagance, and take loans from the bank
only to spend a copious amount of money
on their weddings. This leads to a debt
crisis and consequently a debt spiral,
thereby significantly damaging their
financial stability in the long run.
Moreover, the photos of such weddings
that are plastered all over social media take
away from the fact that a wedding is a
personal experience. With the Internet
permeating more deeply into our daily lives,
a big fat Indian Wedding also creates
unrealistic expectations of everything a
perfect wedding ‘must have’.

Source:
image - https://www.statista.com/statistics/1173562/india-will-
ingness-to-have-destination-weddings/
Image Courtesy: Krishma Sood Bojwani and Dhiraj Bhojwani
 16

Destination
W
AMONG THE LEADING
CITIES FOR PERSONALIZED,

CITIES
THEME BASED
DESTINATION WEDDINGS
IN INDIA ARE
RAJASTHAN, GOA,
TOP MATCH KERALA AND
UTTARAKHAND ith Indian millennials more than eager to
choose the most exotic locales they can
afford to celebrate their big day, which
cities stand to cash in on the destination
wedding boom? Among the leading cities
for personalized, theme-based destination
weddings in India are Rajasthan, Goa,
Kerala and Uttarakhand. With its forts and
palaces, Rajasthan provides the perfect
setting for a royal wedding. The demand for
destination weddings have gone up by 62%
with top destination choices being Jaipur,
Jodhpur and Udaipur. Kerala and Goa
provide the ideal palette for beach
weddings. Goa saw the largest signing of
keys in 2018 at 2,209 keys with ADR
between $228 and $270. Many nature
lovers choose resorts in Uttarakhand for
their spectacular mountain backdrops.
In destinations such as Mussoorie, ADR is
between $170 and $256. Italy’s Lake Como
has made way for Udaipur’s Pichola Lake
and Tuscany for Goa for a large number of
well-heeled Indian lovebirds who wanted a
destination wedding like Virat Kohli and
Anushka Sharma (Tuscany) and Deepika
Padukone and Ranveer Singh (Como). Ultra
luxury hotels in India at main wedding
destinations like Jaipur, Jodhpur and
Mussoorie manage demand for hosting
“diverted destination” weddings that many
postponed from last year as they cannot be
held abroad due to current travel
restrictions. The biggest hospitality players
include Taj, Oberoi, ITC, Leela, Marriott and
Accor have a major presence in these
destinations.
Image Courtesy: Krishma Sood Bojwani and Dhiraj Bhojwani
 7

The Impect of

D
ENTERTAINMENT
INDUSTRY
INDIA’S FILM, TELEVISION, AND
ONLINE VIDEO
SERVICES INDUSTRIES
(TOGETHER REFERRED TO AS estination weddings hit a headline after
Virat and Anushka’s wedding
“CREATIVE INDUSTRIES” IN in Tuscany, Deepika- Ranveer’s wedding in

THIS REPORT) REPRESENT A Italy’s Lake Como. In a survey conducted

by a private data analytics company, 79 per

COMBINED REVENUE OF ABOUT cent of the respondents have said that the
craze of the “big fat Indian weddings’’ is
$13.3 BN (INR 93KCR) inspired by celebrities. The survey was
conducted in six metropolitan cities across

– A LITTLE OVER HALF the nation in an age group of 25-55 years.

While the highest number of the

OF THE COUNTRY’S respondents -- 79 per cent -- felt that

people spend a huge amount of money on

TOTAL MEDIA AND weddings inspired by celebrity weddings,

73 per cent said that it is indeed not wise to

ENTERTAINMENT (M&E) spend so much money. However, 69 per

cent of the respondents said that it is an

INDUSTRY REVENUE. expression of social standing and wealth. A

good number of them 62 per cent felt

THEY GENERATE A that it is the social pressure that makes

people spend on weddings and they would

GROSS OUTPUT OF rather use the money to invest in their

future, like buying a house or a vehicle etc.

$16.5 BN (INR 115KCR),

AND EMPLOY 8.5 LAKH
(850,000) PEOPLE. Image Courtesy: Krishma Sood Bojwani and Dhiraj Bhojwani
 17

MADE IN HEAVEN, AN AMAZON ORIGINAL

SERIES IS ALSO ALSO CENTRIC AROUND
THE WEDDING INDUSTRY.
IT PORTRAYS WHAT HAPPENS BEHIND
THE SHINY CURTAINS OF THE BIG
This is the direct impact created by these
industries. But their total impact is far

INDIAN WEDDINGS. more. Not only the celebrity weddings, the

cinema has a direct influence on the rise of
elaborate events. Destination weddings
being one among them. Several
documentaries, movies find its content
revolving around extravagant weddings and
the rise in the culture. Recently in 2020, a
netflix’s original, Indian Matchmaking was
released. It was termed as the big fat desi
wedding stereotype. It was a satire or
parody of crazy rich desis fantasising over
weddings and finding a life partner through
a neighbourhood aunty. The series tells you
that the wedding industry in India is
ginormous, and fairly clinical in the way two
people decide to get married. A spiritual
extension of Indian Matchmaking, The Big
Day, a netflix original was released in 2021.
It’s real interest lies in showing just how
over-the-top can a wedding be. So, the
biggest take away from The Big Day was
the way couples of today are reframing the
rules of a traditional Indian wedding, but
most of it got buried under the
extravaganza and the bling factor. Made in
Heaven, an amazon original series is also
centric around the wedding industry. It
portrays what happens behind the shiny
curtains of the big Indian weddings. While
celebrity weddings are raising the bar of
destination weddings, the entertainment
industry is filling its pockets by presenting
the reality of the weddings and wedding
industries.

Source:
https://www.dnaindia.com/india/report-79-people-say-big-fat-
indian-wedding-a-result-of-celebrity-craze-25
Image Courtesy: Samode Palace
https://www2.deloitte.com/content/dam/Deloitte/in/Documents/
about-deloitte/in-about-deloitte-economic-impact-
For editorial submissions and inquiries: shivani.joshi@lapolo.in
SHIVANI JOSHI +91-9953846975

CURATED BY

PUBLISHED BY
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