Wedding tourism is a fast growing niche tourist market which is expanding rapidly worldwide, and in South Africa. This growing sector is also good for the property market, and will stimulate demand for lodge-styled properties, according to the Seeff Property Group.
A study done by the South African GoldTrust Company based on Google searches in America, showed South Africa as the most popular wedding destination in Africa. Weddings held here have featured in some of the most exclusive magazines including Vogue Magazine in America.
At one point the local wedding industry was worth an estimated R20b per annum locally. The “Research and Markets’ 2023 Destination Wedding Global Market Report” estimated the global market will grow by 33% this year to USD28 billion (R501b), and by 178% to USD78 billion (R1397b) by 2027 in the next three years.
The favourable exchange rate and quality of venues on offer to the local and international wedding market is also outstanding. Investing in a wedding venue can therefore be a rewarding venture. Demand and the prices of wedding and venue properties depend on the location as well as the particular facilities on offer, according to Seeff.
Unique properties such as Dinokeng Lodge, should therefore attract good interest, according to Karen McEwen and Tracy Keyter, agents with Seeff in Centurion.
Writer: Gina Meintjes
