JOHANNESBURG - South Africa’s appetite for celebrating major milestones is driving a R500-billion industry, despite mounting financial pressure on households and the broader economy.
From weddings and coming-of-age ceremonies to family gatherings and end-of-year celebrations, South Africans continue to spend on important life events.
“There are those critical moments in our lives that cannot go without being celebrated,” says Zandile Makhoba from UCT’s Liberty Institute.
“Whether it’s a wedding or a coming-of-age ceremony within the family, those are moments we don’t want to miss,” she says.
Makhoba says celebrations provide an opportunity for families and communities to come together and share positive experiences.
She says research shows that taking part in social celebrations can have benefits for people’s social and physical wellbeing.
READ: Missed the customary marriage deadline? Here's what you need to know
While celebrations can be expensive, Makhoba says many people plan and save for predictable events.
December, for example, is typically packed with family activities and celebrations, giving people time to budget and put money aside.
However, she says planning does not necessarily prevent people from overspending.
The celebration economy contributes about 6 percent to South Africa’s GDP, supporting industries including clothing, food and beverages, events and venues.
For those hosting the celebrations, the return is not necessarily financial.
Makhoba says the real value is often emotional -- the opportunity to spend time with loved ones and create lasting memories.