Skip to main content

Nigeria’s booming wedding industry

Weddings are becoming increasingly extravagant in Nigeria.
In Lagos, Nigeria’s most populous city, around USD17 million was spent on parties over a 5-month period in 2013 alone – with one fifth of the sum on weddings! Consumer expenditures in the Nigerian economy amounted to USD160.9 billion in 2012 – a figure expected to surpass USD300 billion in the next 5 years. A significant slice of this expenditure went to weddings and festivities. Over 8,000 visitors attended a wedding trade fair in Abuja in October 2012; featuring 105 wedding vendors from Nigeria.
This trend is primarily driven by young Nigerians who have been living abroad. They have incorporated new, international wedding themes into their big day, along with the novel concept of hiring a wedding planner. From elaborate décor to flying in make-up artists from abroad – Nigerian couples are bent on that fairy-tale wedding.
How far will Nigerian couples go to make their Big Day a once-in-a-lifetime experience?https://www.spireresearch.com/newsroom/spirethoughts/nigerias-booming-wedding-industry/
Labels:

Comments

Post a Comment

Popular posts from this blog

Express Pharma Magazine 16th to 30th November 2013 National

API manufacturers need to relook business processes to operate more efficiently                                                                                                                                                                                  
Post a Comment
Read more

A room-sized 3D printer?

Torbjørn Ludvigsen is a Swedish inventor whose company – Replicating Rapid Prototyper (RepRap) – is busy raising funds to develop the Hangprinter. This suspended 3D printer uses the walls and ceiling of a room as its “frame” and can be used to print furniture-sized objects in an entire room. While cable-driven 3D printers already exist, this 3D printer is different. It uses a frameless 3-D printing system which is cheaper to assemble – a mere USD250. It uses an entire house as a 3D printer frame and all parts of the suspended 3D printer are mounted on a single moving unit. The self-replicating machine is designed to manufacture a large fraction of its own parts. Will RepRap revolutionize the construction of low-cost buildings for developing nations? https://www.spireresearch.com/newsroom/spirethoughts/a-room-size-3d-printer/
Post a Comment
Read more

The Earthquake in Nepal jolts the economy

Nepal – one of the poorest countries in the world – had a rude awakening when a 7.8 magnitude earthquake struck on 25 April 2015. The impact was tragic. Casualties continue to rise, with immense damage to infrastructure. Will the nation be able to pick up the shattered pieces of its economy? Leon Perera, Chief Executive Officer of Spire Research and Consulting shared his insights in China Daily – Asia Weekly. With the estimated cost of rehabilitation set to hit USD5 billion – a quarter of the nation’s Gross Domestic Product (GDP) of USD20 billion in 2014 – the economic impact of the earthquake is massive. According to United Nation’s data, 8 million people are directly in the line of fire. Both agriculture – with well over 70% of the population employed in this sector – and tourism have been badly afflicted. Perera opined that the disaster will also impact the nation’s ability to grow and transport fresh food – the agricultural sector alone accounts for 38% of GDP. Moreover, ...
Post a Comment
Read more

ASEAN gaming on the rise

ASEAN’s gaming market is set for rapid growth. By 2017, there will be an estimated 80 million middle-income households, adding more consumers in the 20-50 years age bracket. This means gaming revenues will reach USD2.2 billion – double in value. What factors contribute to this emerging market? With improved broadband infrastructure and more disposable income, online as well as mobile gaming is increasingly accessible. By the end of 2016, there will be 230 million smartphones in Asia – which means more potential users. ASEAN governments have been quick to cash in. For instance, game developers in Indonesia receive subsidies to encourage market growth whereas the University of the Philippines actively promotes game development and design courses, hosts gaming events as well as offers scholarships to attract students. However, the gaming market in ASEAN is highly fragmented. Each ASEAN country has unique preferences and gaming behaviour. No one single publisher or format c...
Post a Comment
Read more

E-tailing set to grow in India

India’s e-commerce industry has recorded massive growth during the last five years. The factors contributing to this growth include increasing number of internet users, growing acceptability of online payments, availability of a cash on delivery option and favourable demographics. Will India’s e-commerce industry continue its growth trajectory? Spire Research and Consulting conducted a research study on India’s e-tailing industry among 300 Indian retailors in the apparel, consumer electronics and food sectors. The findings of the study were further published on Asahi Shimbun’s Japanese website. According to research findings, 91% of Indian companies in the apparel, consumer electronics and food sectors offer online shopping solutions to customers. The overwhelming take-up can be attributed to the introduction of online payment systems and developments in logistics infrastructure. Over 54% of the online businesses reported a growth of more than 20% in sales revenue post increasi...
Post a Comment
Read more