Dear Reader,
The Indian wedding market is estimated at $40 billion, the second largest in the world after the $70 billion US market. And it is growing at an estimated 25-30 percent annually. An average Indian spends an estimated one-fifth of his/her wealth accumulated in a lifetime on weddings. Also, with half of India’s population being under the age of 25, the marriage market is set to benefit from this demographic dividend in the next five to ten years. As the Indian economy grows at an exponential rate so does the disposable income of people, destination weddings are increasingly becoming popular abroad with an average wedding party comprising 350 guests. Indian weddings are getting bigger and aspirational travellers with spending power are now considering international venues to celebrate their special day. Tourism boards of various countries have realised that Indian weddings are the key to promoting their local industries, especially during lean season, and are pursuing quality Indian wedding planners.
Weddings truly mean big business in India.
So big is the weddings sector that recently, 300 attendees from 60 countries attended the 3rd edition of International MICE & Wedding Forum (IMWF), at the Titanic Deluxe Golf Belek Antalya, Turkey from May 28-June 1. India was represented by a strong contingent of 120 participants. We bring you a report from the event. As an outbound MICE destination we rediscover Korea, which witnessed a total number of 123,416 Indian tourists (not exclusive to MiCE) in 2017. The average stay for a MiCE participant in Seoul is approximately seven days. Seoul boasts of some of the fastest Internet speeds, both wired and wireless. And with city-wide Wi-Fi coverage, visitors can be connected online from anywhere in the city. Marriott group’s MCUBE – (Marriott Meetings Matter), held recently at the newly-opened JW Marriott Jaipur Resort & Spa, brought together the largest corporate and professional conference organisers under one roof. We highlight more industry news from the event. Keep reading and giving your feedback to us at: micetalk@ddppl.com