Big fat Indian weddings are back with a bang, fueling a spending spree across venues, food, and unique experiences.
The Indian wedding industry has reached new heights in 2024, with the average wedding budget climbing to ₹36.5 lakh (approx. $44,000), according to a report by WedMeGood. Destination weddings, a growing trend, have seen even higher expenditures, averaging ₹51 lakh (approx. $61,500). This marks a 7% increase compared to 2023, driven largely by rising costs in venues and catering, which are up by more than 10% year-on-year.
Key Highlights of Wedding Trends in 2024
• Top Spending Categories: Jewellery, venues, decor, and catering remain the most expensive aspects, with couples also splurging on bespoke wedding planning services.
• Destination Weddings: Budgets exceeding ₹1 crore are common for these lavish events, inspired by celebrity endorsements and the demand for unique, experiential celebrations.
• Personalization and Experiential Events: Modern couples, particularly Gen Z, are integrating Western-inspired trends such as themed welcome dinners, cocktail mixing sessions, and gaming zones into traditional ceremonies.
Economic Impact
The Confederation of All India Traders (CAIT) estimates that 48 lakh weddings between November and December 2024 will generate ₹6 lakh crore in business, a significant boost for India’s retail sector. Increased auspicious dates this year have further fueled the industry’s growth.
Financing the Festivities
While most couples rely on personal or family savings to finance their dream weddings, 12% are turning to bank loans or borrowing from friends to meet their budgets. Social media is also playing a key role, as couples prioritize “Instagrammable” moments, driving demand for luxury venues and stunning decor.
As founder of TailorMade Experiences, aptly put it:
“In India, most households allocate the biggest budgets towards the purchase of a house and weddings of their children.”
With rising costs and innovative trends, the Indian wedding industry continues to reflect the cultural ethos of “big, bold, and beautiful.”
