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Are Weddings Still Recession Proof?

are weddings still recession proof

In India, a wedding means much more than just two people being tied in a knot of love. The grandeur of the wedding is equated with a person's social and economic status. And families go till crazy heights to maintain this status, even if it sometimes means to drill a hole in their pockets. According to ashokabusiness.org Indian families spend around 30% of their life savings in weddings. Infact, most of the parents start saving for their child’s marriage as soon as he/she is born. 

are weddings still recession proof

Along with making the wedding exquisite, Indian culture also puts a compulsion on getting married. While one in four young adults do not wish to marry, most of them  are not given an option to stay single, they are pushed into a marriage nonetheless. In India, not getting married is considered to be blasphemous. So irrespective of the youths wish, they are forced to get married. This is another reason why weddings in India are recession proof, because marriages are a must in India.

are weddings still recession proof

Coming up of many dating and matrimonial sites have also helped with the huge number of marriages happening in India. These sites give young adults an opportunity to explore their options and ultimately fall in love and marry.

are weddings still recession proof

Must Read - What You Should Be Looking for in a Wedding Planner

Social media sites such as Instagram, have taken the wedding craze a step further. Couples and the wedding organizers such as Shaadi Squad, have started sharing wedding stories on their respective accounts. Many youths are now following celebrity weddings. These weddings are an epitome of extravagance. With their euphoric venues and Sabyasachi lehengas, these celebrity weddings have created a kind of a Bandwagon Effect (everyone is doing it, so I must do it too!)

are weddings still recession proof

Local vendors have now taken a back seat, because people want brands. From flowers to food, everything needs to scream glamour. So, is it solely because of this celebrity and social media culture that we now have a wedding industry that is worth $50 billion?

are weddings still recession proof

While they have definitely set new standards, they are not the only ones to be blamed. India’s History is filled with stories of extravagant wedding gestures. Indian rulers would adorn their entire kingdoms and donate a humongous amount of gold as a celebration of their weddings. India recently witnessed its most expensive wedding of INR 700 crores, the Ambani’s surely had everyone gawking at their wedding expenditure. 

are weddings still recession proof

The Netflix show, Indian Matchmaking, gives a true picture of these big and glamorous weddings. It also portrays the kind of standards set in the realm of marriage. Infact, matchmaker Sima Taparia has made a big name in the wedding industry. And there are so many matchmakers like Sima- just not as popular- that it is a booming profession. Matchmakers like Sima, are getting paid around $20,000 to $50,000 per match.

are weddings still recession proof

The recent Covid-19 pandemic is just an added proof that weddings are recession proof. Despite a nationwide lockdown, we saw multiple cases of people breaking the restrictions imposed by the government and conducting/ attending weddings. And despite the financial and Covid-19 concerns, people continue to have elaborate and grand weddings. This has truly proved that nothing, and absolutely nothing, can stop Indians from getting married. And therefore, it can be deduced that weddings, at least for now, are certainly recession-proof.

are weddings still recession proof

If you are looking for a professionally trained wedding planner or would like to become one, then you can contact us. We, at Wedding Management Institue (WMI), are one of the top wedding and event planning and organization institutes that offer the best Event Management Course to aspiring individuals to turn them pros of the industry.

Also read : How to Budget a Destination Wedding