Destination Wedding Global Market Report 2024

The destination wedding market size has grown exponentially in recent years. It will grow from $27.64 billion in 2023 to $36.49 billion in 2024 at a compound annual growth rate (CAGR) of 32.0%. The growth observed in the historical period can be attributed to a growing desire for unique experiences, enhanced affordability of travel, the influence of social media on travel trends, an increase in wedding tourism, and the allure of cultural and exotic destinations.

The destination wedding market size is expected to see exponential growth in the next few years. It will grow to $105.92 billion in 2028 at a compound annual growth rate (CAGR) of 30.5%. Anticipated growth in the forecast period is expected due to the ongoing desire for exclusivity in wedding experiences, an expanded array of destination options, a shift towards more intimate gatherings, an increased focus on sustainability within the wedding industry, and the anticipated global economic recovery.

The expanding use of social media is propelling the destination wedding market. Social platforms play a crucial role in wedding planning and communication, influencing how couples plan and document their special day. Pew Research Center reported a 72% usage rate of social media among Americans in 2021.

The escalating number of international marriages is expected to drive growth in the destination wedding market. The Korea Times reported a 27.2% year-on-year increase in international weddings in 2022. This upward trend in international marriages fosters the growth of destination weddings as a preferred choice among couples crossing borders for matrimonial ceremonies.

Eco-friendly weddings in natural locations gain traction in the destination wedding market. The trend reflects a consumer preference for sustainable celebrations, as demonstrated by couples' choices in incorporating environment-friendly elements into their weddings. For instance, according to a 2022 real weddings survey by Theknot, a US-based wedding planning company, 70% of couples agreed if they planned to have a marriage in 2022 to include environment-friendly activities and décor such as buying second-hand or up-cycled items, using recycled paper items, and minimizing the use of single-use plastic. One-third of the couples believed that the vendors should be more proactive in providing eco-friendly solutions.

Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities who work together to achieve shared goals aligned with their individual strategic objectives. In February 2023, the Singapore Tourism Board partnered with WeddingSutra to position Singapore as a premier destination for high-end weddings. The collaboration facilitated informative discussions and networking opportunities, highlighting Singapore's unique venues and luxurious offerings to key players in the wedding industry.

In July 2021, Matrimony.com Ltd., an India-based wedding services provider, acquired ShaadiSaga for Rs.11 crore ($ 1,410.87 Million). Matrimony.com aimed to expand its services in the north and west markets and become a market leader in the destination wedding space. Shadisaga.com is operated by Boatman Tech Pvt. Ltd., which is a wedding planning site providing a one-stop solution for planning and deciding venues and vendors for destination weddings.

Major companies operating in the destination wedding market report are Sparkles & Bubbles Weddings, Tropical Wedding & Honeymoon, Vivaah Weddings, Revel Events Weddings, The Wedding Travel Company, ALL THINGS BEAUTIFUL Weddings, Peach Perfect Weddings, The Destination Wedding, Wedding Planner Roma, Jennifer Fox Weddings, Sandals Resorts, The Knot, Magical Weddings, WeddingWire, Lomas Travel, Zola Inc., Exquisite Vacations Inc., LUXE Destination Weddings, Brides by Liza, Perfect Weddings Abroad, White Eden Weddings, Fiestasol Weddings, LM Wedding Planner, Studio Brzak Events, Planned For Perfection Weddings, BAQAA Glamour Weddings & Events, The Big Night Weddings, Shehnaiyan Weddings, Impressario Inc. Weddings, Signature Wedding Details, Honeymoons Inc., Iberostar Hotels & Resorts, Karisma Hotels & Resorts, Hard Rock Hotels, Palace Resorts, Dreams Resorts & Spas, Aisle Planner, I Do! Wedding & Events, BaliVIP Weddings, Wedding Italy, My Wedding Away, Jamaica Wedding DJ, Wedding Destinations, The Bridal Consultant.

North America was the largest region in the destination wedding market share in 2023. The regions covered in the destination wedding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the destination wedding market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Destination weddings often revolve around four distinct seasons: high season, mid-season, low season, and mid-peak season. The high season, spanning from late winter to the end of summer, signifies the period when most weddings take place. Various activities within destination weddings encompass accommodation services, food services, butler services, and other related offerings. These events involve a series of functions, including pre-wedding ceremonies, the main wedding event, receptions, bachelor’s parties, and other celebratory gatherings. Venues for destination weddings can be either national or international destinations. Booking channels for these venues commonly include phone reservations, online booking platforms, and in-person booking services, providing multiple avenues for couples planning their dream destination weddings.

The destination wedding market research report is one of a series of new reports that provides Destination wedding market statistics, including destination wedding industry global market size, regional shares, competitors with a destination wedding market share, detailed Destination wedding market segments, market trends and opportunities, and any further data you may need to thrive in the destination wedding industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The destination wedding market includes revenues earned by entities by providing services such as decor and design, destination and venue selection, entertainment, pre wedding celebrations, wedding communication, and logistics. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.