Indian wedding industry shines in the year 2024, surveys and experts predict increasing growth in revenue.
2024 has been a great year for the Indian wedding and tourism industry. Thanks to several impactful initiatives taken by the Government, and the hospitality sector’s active partaking, the wedding and related industry in the county has seen a surge in business, contributing to the country’s economic growth. Only in the months of November and December has the country reportedly seen approximately 4.8 million weddings. This huge number of weddings helped generate substantial revenue for wedding-related industries such as apparel, jewellery, venues, giftings and catering. (The United Indian) According to the Confederation of All India Traders (CAIT), a revenue of Rs 4.25 trillion have been generated over just 23 auspicious days. With around 10 million weddings taking place annually, the growth curve is expected to only go higher.
In December 2023, PM Narendra Modi urged everyone for the “Wed in India” movement, followed by the Ministry of Tourism launching a campaign called “India Says I Do”. These initiatives aimed at boosting the wedding and tourism industry in the country by encouraging Indian couples to host weddings within the country’s diverse venues. According to a report, metropolitan cities have seen a 34% increase in demand for wedding services, with the national capital leading the way with a 44% rise.
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Following the growth in demand for destination weddings, both Indian and state governments focused on enhancing infrastructure to host luxury weddings. Rajasthan and Kerala saw an increase in investment in luxury venues. Hilton Hotels launched ‘Spark by Hilton’ in India with a plan to open 150 hotels all over the country catering for the mid-market segment. (Skift)
The hospitality sector including venues, catering and destination weddings, has seen an increase in demand of 25-30% over the last two years. The surge in domestic weddings has impacted international tourism as well. Thailand eased regulations to attract Indian wedding tourism after noting a slowdown. (Khaosod)
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Overall, 2024 has greatly boosted the wedding and tourism industry, boosting economic growth marked by the market for high-demand dates and trends towards quality-focused domestic weddings.
