FICCI-MRSS Knowledge Report on 1st ever Wedding Tourism Summit released
Wedding tourism destination market in India is expected to grow to Rs 45,000 crore by end of 2020, said a joint study by FICCI and MRSS India. The current wedding destination market is estimated at Rs 23,438 crore out of the overall Indian wedding market of Rs 110,000 crore.
“A large number of states, especially Rajasthan, with its wide array of forts and luxury hotels and Odisha, with its widespread beaches in addition to private entities like Aamby Valley in the West and Ramoji Film City in the South have already made their name as prime wedding destinations in India,” said the report.
While destination wedding accounts for 28%, traditional wedding still accounts for 40% while theme based wedding stands at 22% and the balance 10% is simple wedding preferred by consumers.
Celebrity endorsements of destination marriage and emergence of wedding ecosystems players like wedding planners and spruced up infrastructural support amenities are some of factors that have worked in favour of wedding tourism.
Today all major national tourism sites have a separate section promoting wedding tourism in their country, testifying the fact that it has cemented its’ position in the niche tourism products, the report said.
Globally, wedding tourism has started contributing incredible statistics recording a massive growth of 75% between 2007 and 2012, reported by Weddings and Honeymoons International (2012); and an incredible 400% increase from 2000 to 2010 for the American market (TIAA, 2010). These figures, though a little old showcases the immense potential that this niche tourism has to offer.
India has an impeccable opportunity to place itself at the global map of wedding tourism. Moreover, the Indian destinations have the potential to match up with the global leaders in terms of its exclusivity and exquisiteness, said the report.
Commenting on the report, MRSS India, chairman, Raj Sharma said, “The WTS is the first of its kind and MRSS is proud to be the knowledge partner for this new property of FICCI.”