Total spending for events worldwide has reached an average of $650 billion annually.
Nigeria is estimated to be among the most extravagant in the world. Even more revealing is the fact that venue rentals subniche is worth about 25% ($5bn) — more reason why it is baffling how little attention is given to the work that goes into securing venues.
Depending on the Human resources location and the space available for the event, some of these venues come with a heavy price tag. The venue is a key factor in planning any event and it can determine the date of an event, depending on its availability. The type of occasion and preferred theme, determines the décor and design of the venue.
here could be priced for as high as ₦4 million, as is with the popular Lekki Coliseum — an event centre in Lekki, with 2 banquet halls that can conveniently hold a thousand guest respectively.
Unocasa on the average, about 30 percent of wedding budgets are spent on the reception or wedding venue. Depending on the country and location, the average wedding budget in many cities on the continent could be anywhere between $4,500 and $40,000 and most families and young people save up (and often borrow) for the big event.