Destination wedding market in Europe expected to reach US$20,672 million
NEWARK, Del, Sept. 27, 2022 (GLOBE NEWSWIRE) — According to Future Market Insights (IMF), demand in the European destination wedding market is expected to increase to 10.4% CAGR during the forecast period (2022-2032). Market sales are expected to reach a valuation of US$29,672 million by 2032. With growing preference for international and personalized weddings, market growth is poised to increase by 2x over the next decade.
The key factor propelling the growth of the market is the growing preference of couples planning the destination wedding for the opportunity to spend time with their loved ones concurrently with their wedding. The concept allows them to have a good time together before and after the ceremony.
Destination wedding planners take care of all the reservations, from booking the tickets to organizing an event, including various other aspects such as food, accommodation, clothing and others. Additionally, destination wedding planners focus on consumer behavior and preferences and support them through every stage of the wedding. Planners try to provide a nut-free experience throughout the trip. Therefore, couples are opting for the destination wedding.
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Key takeaway meals from Wedding destination Europe Market Study
- In terms of venue capacity, the capacity of 100+ guests in the European destination wedding market holds a 66% share of the overall market.
- Based on inclusion and activity, the catering service holds a significant 39% share of the overall destination wedding market in Europe.
- Among famous destinations, Italy is the preferred destination with 17% market share, followed by Santorini.
- Based on booking channel, the in-person bookings segment is expected to experience the fastest growth over the next decade
“Destination wedding planners in Europe are strategizing to expand their range of events to cater for all types of wedding events. KMajor players are focusing on innovation in wedding plans to make them more special, customizable, cost-effective and improve couples’ experience.” Says an IMF analyst.
Leading destination wedding manufacturers in Europe are focusing on aggressive promotional strategies, advertisements, and new product launches that have driven the sales growth of the global destination wedding market in Europe.
The major players present in the destination wedding market in Europe are White Eden Weddings, FiestaSol, Tropical Wedding & Honeymoon, Magical Weddings, Sparkles & Bubbles, All Things Beautiful, Planned for Perfection, Peach Perfect Weddings, The Wedding Travel Company, LM Wedding Planner, Jennifer Fox Weddings, W Day, The Destination Wedding, Wedding Planner Roma & Studio Brzak Events, among others.
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Destination wedding market in Europe by category
Per guest capacity:
- Less than 100 guests
- 100 and more
- High season
- Low season
By inclusion and activity:
- Hosting services
- food service
- Butler services
- Other services
By Types of Functions:
- Ceremonies before the wedding
- Wedding ceremonies
- Bachelor Party
- Other types of functions
By booking channel:
- Reservation by phone
- Online booking
- Reservation in person
- Amalfi Coast
- The rest of Europe
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1.1. European market outlook
1.1.1. Who travels?
1.1.2. How much are they spending?
1.1.3. Direct contribution of tourism to GDP
1.1.4. Direct contribution of tourism to employment
1.2. Summary of key findings
1.3. Summary of key statistics
1.4. MFI analysis and recommendations
2. Presentation of the market
2.1. Total expenditure (millions of US dollars) and forecast (2022-2032)
2.2. Number of tourists (Mn) and forecast (2022-2032)
2.3. Projected annual growth in total expenditure (2022-2032)
2.4. Projections of annual growth in the number of tourists
3. Key Market Trends
3.1. Key trends impacting the market
3.1.1. Availability of well-facilitated wedding destinations
3.1.2. Great availability of cultural, spiritual and heritage places
3.1.3. Growing Trends in Personalized Wedding Packages
3.1.4. High demand for an eco-friendly destination wedding
3.1.5. Additional events specific to the surroundings
3.1.6. Ability to find destinations with perfect weather
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