The Caribbean destination wedding market size is expected to reach US$ 4,995.2 Million in 2023 and US$ 17,349.6 Million by 2033. Overall destination wedding demand in the Caribbean market is projected to increase at 13.3% CAGR during the assessment period from 2023 to 2033.
The Caribbean destination wedding industry is expected to thrive rapidly during the forecast period. This is due to several factors, such as the presence of various attractive destinations favorable government support, and growing interconnectedness.
Caribbean has been a popular destination for weddings due to its stunning landscapes, beautiful beaches, warm climate, and a wide range of resorts and venues that cater specifically to destination weddings.
The destination wedding market is gaining popularity in the Caribbean region and it is one of the most diverse in the world. The Caribbean destination wedding industry contributes significantly to wedding tourism in the region.
This type of tourism (destination wedding) brings in revenue not only for wedding venues and planners but also for local businesses, including restaurants, transportation services, and entertainment providers.
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The market is highly competitive, with several companies offering a wide range of services and packages. A few of the leading players include Sandals Resorts International, Tamarind Global Weddings, Dreams Resorts & Spas, The Little Nell, and others.
Key Takeaways from the Caribbean Destination Wedding Market Study
The Caribbean destination wedding industry is forecast to reach a valuation of US$ 17,349.6 million by 2033.
Over the projection period, demand for Caribbean destination weddings is likely to rise at ~3% CAGR.
By service type, the wedding planning segment held a prominent market share of 6% in 2022.
In season, the high season segment accounted for a market share of 4% in 2022.
Based on guest capacity, below 100 segments held the dominant share of 5% in 2022.
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Key Players:
- Sandals Resorts International
- Tamarind Global Weddings
- Dreams Resorts & Spas
- The Little Nell
- Amangani
- Four Seasons Resort Whistler
- The Ritz-Carlton
- Waldorf Astoria
- Amanpulo
- Belmond Hotel Caruso
- Hotel Santa Caterina
- Rosewood Hotels and Resorts
- St. Regis Hotels and Resorts
- Royal Caribbean International
- Colin Cowie Lifestyle
- Others (as requested)
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