Wedding Budget Statistics and Trends

Evoma is a Bangalore wedding venue with a hall, accommodations, catering, stage (mandap), lighting, flowers, seating, parking and all the other hundreds of minor details that you need to consider during wedding planning.

wedding budget statistics

The couples and families who come to Evoma to book their wedding hall ask us questions about all this and more. But the one thing that is the most important to everyone is this – What is the budget going to be for all this?

In this article, we attempt to share with you the most recent wedding budget trends and statistics, so you know how big the wedding industry is in India, how much is being spent, and what is the average spend. This can help you set your own wedding budget, and plan for marriages in the near future.

1. Number of weddings taking place in India.

There may be fewer weddings in some months due to a lack of auspicious dates. The most auspicious dates are found between late October and December, so this is commonly known as the Indian wedding season. All told, there are about 30,000 weddings taking place1 per day, on average, in India. That works out to over 9 lakh weddings per month, and more than 10 million per year.

2. Estimated budget and spending at Indian weddings.

On average, the Indian family (on the girl’s side) will spend 20% of their wealth, at that time, for a wedding, that takes place in the average Indian family once in 20 years. The total value of the Indian wedding industry is estimated2 to be in excess of $50 billion, second only to the U.S. wedding industry ($70 billion).

Estimated spending per wedding may typically vary from Rs. 5-10 lakh at the lower end, and up to Rs. 5 crore for high-end luxury arrangements, depending on the size (people attending), location, bridal gold jewelry and clothing budget, food and drinks menu, and most importantly – the number of days (1 to 5 days).

3. Breakup of Indian wedding budget costs.

The three big-ticket items at an Indian wedding are the wedding hall or kalyana mandap where you hold the marriage ceremony and then the reception, then the catering costs (per plate x number of guests), and the bridal gold and jewelry.

Wedding Hall: Daily rental of between Rs. 10,000 to Rs. 5 lakh, depending on type (mandapa, hotel, convention center, outdoor ground, etc.) and location within city.

Catering: Per plate cost of between Rs. 350 to Rs. 2,000 (about Rs. 200 difference for veg and non-veg). A dedicated kalyana mandapa where they have a cooking crew available only for weddings will cost between Rs. 350-550 at the lower end, while a luxury 5-star hotel will charge you Rs. 1800-2000. Evoma, for the record, is a 4-star luxury hotel in Bangalore where the typical per plate rate for wedding catering is Rs. 499.

Bridal gold and jewelry: More than half of the 900 tons of gold purchased annually in India is bought3 during the wedding season, with an average of 30-40 grams per wedding. As of now, the cost per gram is Rs. 3,237 (24 carat, 99.99% pure). This means the cost of gold alone works out to between Rs. 1 lakh to Rs. 1.3 lakh, on average. This is not including the making charges, and all the existing gold that the girl and her family will have collected for 20 years to ensure that there is enough gold jewelry at the time of marriage.

Apart from this, you have wedding day clothes and apparel, event planning costs (wedding planner), hotel accommodation, decorations, stage, lighting, videographer, gifts for guests, floral arrangements and lighting, transportation, etc.

All inclusive cost for a typical 1-day wedding in India will work out to Rs. 5-10 lakh in a 2nd tier city, and between 25-50 lakhs in a metropolitan city.

References:

1. The Flourishing Indian Wedding Industry – Indian Retailer

2. Fascinating Indian Wedding Industry Statistics – BrandonGaille

3. How technology is changing Indian weddings – BBC

4. Discover everything you need to plan your big day – WeddingWire


 December 18, 2018  Dolly

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