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/

Comments

2022: Recovery or Resurgence?

The Covid-19 pandemic officially marks a grim second year this year. Nonetheless, there is some optimism among scientists that while the virus will become endemic, its threat to human life could reduce over time. In the first of a three-part Spirethoughts instalment examining analysts’ predictions for the new year ahead, we look at 3 economic and social trends that are likely to affect the global economy in 2022. Debt and inflation to grow . Global debt accelerated during the pandemic as governments continued to borrow. Twenty-five nations, including the US and China, now have total debt amounting to more than 300% of GDP, as central banks contribute to inflation by printing money, deepening the debt trap. Inflation, while on the rise, seems unlikely to hit the historic double-digit levels of the 1970s, as government spending should ease in 2022. Industries overheat amid global warming “greenflation”. The other continuing story with global imp...

Ethiopia’s Strategic Cooperation with China

Over the past decade, Ethiopia has experienced an average economic growth rate of about 10%. Ethiopia is expected to grow by 8.5% in 2018, topping China’s projected growth of 6.5%. In recent times, the Ethiopian government has abandoned its 1970’s Communist ideology and put in place some basic reforms. They went on to build sturdy infrastructure and launch a successful industrial policy, calling to mind China’s own development pathway. The Chinese have contributed significantly to the building of Ethiopian infrastructure, with rail systems, buildings and dams. Will Ethiopia succeed in copying China’s development model? Read here more: https://www.spireresearch.com/newsroom/spirethoughts/ethiopias-strategic-cooperation-with-china/

Gazing into the crystal ball for 2020

A new year means hopes for better global economic growth. What lies ahead? Leon Perera, Chief Executive Officer of Spire Research and Consulting, shared his insights in Business Times – Singapore. A return of normalcy for global economic growth is foreseen despite uncertainties for Brexit and the US-China trade war. The RCEP trade agreement further promises a boost to global growth. Leon further pointed out rising tension due to US’s rigid stance against North Korea, China and Iran. Risk of political fragmentation and global trade is likely with countries set to align to either Chinese or the US spheres of influence. However, hopes of a more rational and rule-based governance remain. Read more: https://www.spireresearch.com/newsroom/media/gazing-into-the-crystal-ball-for-2020/

Spire runs CSR activity with SCS beneficiaries at SuperPark Singapore

Spire Singapore collaborated with the Singapore Children’s Society (SCS) on its CSR activity for the ninth consecutive year. The beneficiaries took part in fun and interactive activities at an indoor park. Spire Singapore took beneficiaries of the Singapore Children’s Society to an excursion to SuperPark at Suntec City, an indoor playground with Finnish roots. Children explored various areas of activities. Children engaged in fun activities which included pedal car racing, street basketball, trampolines and even the climbing wall! The hustle and bustle ended when the children enjoyed lunch before heading home. Spire is immensely proud to support the amazing work of the Singapore Children’s Society, our CSR partner. Read more: https://www.spireresearch.com/newsroom/events/spire-runs-csr-activity-with-scs-beneficiaries-at-superpark-singapore/

Spire appointed as Official Research Partner to the BMW Malaysian Open for the fourth consecutive year

Spire was honored to be appointed as the Official Research Partner of the BMW Malaysian Open for the fourth consecutive year. The 2015 BMW Malaysian Open – the sixth edition of the Malaysian Open – was held from 28 February to 8 March 2015 at the Royal Selangor Golf Club in Kuala Lumpur, Malaysia. The event gathered 13,815 spectators from across the region. Together with the Women’s Tennis Association (WTA) Tour and the Lawn Tennis Association of Malaysia (LTAM), Spire was thrilled to be a part of this prestigious event, which played host to talented sportspersons such as Caroline Wozniacki and Alexandra Dulgheru. As the Official Research Partner, Spire’s Malaysia team conducted a total of 500 survey interviews with the spectators and generated fact-based research insights aimed at improving the event arrangements in the coming years. Spire’s long-standing association with this world-class event attests to the quality of the research it has provided. https://www.sp...

The Knowledge to Decide

Search This Blog