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Micetalk - - Editorial -

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

Pic­ture credit: JW Mar­riott Kolkata

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