Wedding budget is costing 37 lakh rupees in 2024 destination weddings are spending 51 lakh average
Wedding Budget: Wedding season is going on in India and you must be seeing wonderful wedding photos of your friends and relatives on social media. Every year lakhs of marriages take place in the country during the wedding season and this year also around 48 lakh marriages are going to take place in the wedding season. Now if we look at the wedding expenses, we are going to tell you about a report in which the expenses of weddings in India have been told and you will be surprised to know what changes have happened in it.
Wedding budget in India reaches so many lakhs of rupees
A study has revealed that the average wedding expense in India has reached Rs 36.5 lakh (37 lakh) and it has increased by 7 percent compared to last year. Whereas for couples who choose destination wedding, the average expense of such a wedding has reached Rs 51 lakh.
Why is the expenditure on weddings increasing?
The direct reason for the increase in expenditure on weddings is that the cost incurred has seen an increase of 10 percent on a year-on-year basis. The expenses ranging from wedding venue to catering have increased a lot as compared to before. This report has come from wedding firm WedMeGood in which it has been told that people are taking help from special wedding planners to event management agencies and are leaving no stone unturned in giving a royal touch to the wedding.
People are spending up to Rs 1 crore on marriage
Wedmigood spoke to 3500 couples for this study and found that 9 percent of these couples spent more than Rs 1 crore on their wedding ceremonies and events. Whereas 9 percent people have spent between Rs 50 lakh and Rs 1 crore on marriage. The wedding budget of 40 percent of the couples was less than Rs 15 lakh. The total number of people spending between Rs 25 lakh-50 lakh was 23 percent and the number of people spending Rs 15 lakh-25 lakh was around 19 percent.
This figure is interesting
Another interesting statistic is that 82 percent of couples financed their wedding through personal savings and family savings. 12 percent of the couples took loans and 6 percent financed the wedding by selling their assets or through liquidation.
CAIT estimate
Confederation of All India Traders (CAIT) has said that this year 48 lakh marriages are going to take place only in November-December and it is estimated that Rs 6 lakh crore will be spent on them.
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