When the pandemic hit the world, the hospitality sector got affected but it also bounced back stronger than was expected. On its way to regaining the lost ground, hospitality and tourism sector today, is on the verge of becoming the largest and fastest-growing sector globally. The tourism industry in India accounts for roughly five percent of the country’s gross domestic product (GDP). A central govt estimate says that by 2030, the overall contribution of tourism sector to India’s GDP will be $250 billion.
The hospitality industry is being reinvented by a new breed of business involving tourism and hospitality services. The sector is experiencing some game-changing developments and trends as the way of perceiving life and tourism has changed forever post Covid. With the millennials and Gen Z gradually dominating the travel decisions, the sector is uptight with trends like a staycation, leisure travel, solo trips, backpack trips, experiential travel, destination weddings, etc. One of the most promising segments of the industry is wedding tourism. Keen on investing in a richer experience for the guests coming from across a large age bracket, the brands are re-inventing their offerings for unique wedding celebrations.
Destination weddings: A trend set to only grow
Turning the tide steadily, destination weddings are redefining India’s wedding culture and the industry looks promising to say the least. India has been known for the mega celebrations and gatherings during festivals round the year, well, Indian weddings are nothing less than a festival. The $50-billion wedding market in India witnessed around 3.2 million events during the period November 2022-Feruary 2023, making a sharp spike from 2.5 million a year back.
The Indian weddings, known for the rituals, traditions, and opulence for ages, is now witnessing a shift from spending on jewellery to destination weddings creating everlasting joy and memories.
The best for the best
India, being a land of diversity, has an array of options for a perfect picturesque site right from royal heritage palaces, endless coastlines, and beaches, an intimate wedding at a resort, or a gala wedding in the hills. This creates an abundant opportunity for hospitality brands located in distinct regions to host destination weddings at their property. All in all, to offer a colossal affair, the brands have been putting their best foot forward paying attention to each and every detail for the guests to have a memorable celebrations.
National economic growth owing to wedding tourism
The rising interest in destination weddings is unquestionably a boon to our nation’s economic growth. Given the grandeur of weddings, there are many factors involved that bring in revenue for a variety of industries besides solely the hospitality sector. The Ministry of Tourism, Govt of India is already working on a Wedding Tourism Policy towards making India a preferred destination for weddings and events. It is expected to provide a structured approach to the wedding industry’s growth and development in India, creating job opportunities and boosting the economy.
Moreover, as per an estimate by KPMG report Indian weddings costs anywhere between 5 lakh to 5 crore rupees and an Indian spends one-fifth of the savings for their wedding. Hence, every wedding function has a significant potential to generate employment and business for a wide range of industries, from the dedicated wedding photographers to the wedding décor team to the F&B vendors making the occasion bigger than ever.
Amping up the local economy
Given a range of opulent locations across India, the local regions also have an edge to have a chance to create a decent chunk of money. The off-beat locations offer an intimate wedding with a scenic view. As a result, a destination wedding at off-beat locations also generates employment for tier 2 and tier 3 cities. Everything from hotels for lodging, local transportation, household help for the wedding preparations, local food stalls to refuel while sightseeing, markets to buy wedding-related supplies, local souvenirs for guests, last-minute shopping, etc., boost the business for the localities strengthening their economy.
The notion of destination weddings truly combines the sentiments of joy, togetherness, and celebration on the one hand and lucrative industry on the other. The prognosis for travel, weddings, and leisure is poised to glow with the emerging trends of wedding celebrations keeping up with the rituals.
Source : TOI