It found the earnings gap between Canadian-born white men and recent-immigrant visible-minority men and women was 40 per cent and 61 per cent, respectively. Immigrants, especially recent arrivals, have a tougher time finding work in this country because of how their work experience and skills are valued in the Canadian labour market, the study said. The study found that visible-minority women earn 17 per cent less than white men, while the gap for visible-minority men is 8 per cent. While our relatives in India often imagine expatriates and their children as well-to-do, visible minorities in Canada can expect to make less money, relative to white men, despite higher levels of education, according to a new report by the C.D. But in the Canadian context, visible minorities, and especially new immigrants, face other financial challenges. If you’ve attended an Indian wedding in Canada, it’s easy to see that many immigrants and their children maintain that level of grandiosity.īig weddings are often a status symbol in India. On average, Indians will spend roughly one-fifth of their accumulated wealth on a child’s wedding, according to a report by KPMG and Google. Not only is India’s economic growth slowing, gold prices are rising because of tensions in the Middle East.Įven the Indian government has also weighed in on the issue, criticizing weddings for being too big and wasteful of food. Wealthy Indians are cutting back on wedding expenses because of economic uncertainty, according to a report in the Financial Times earlier this month.
That message is starting to take root in the motherland.
Wedding expenses in india movie#
Since most of us don’t earn money like Bollywood movie stars, it’s time to face some hard truths about our finances and teach our kids that it’s the marriage that counts, not the wedding. Cultural expectations for big weddings are out of whack with economic realities in Canada. Some have events that stretch over an entire week. The average cost of an Indian wedding in Canada is $100,000, according to a documentary titled Little India Big Business. With Indian wedding season under way, parents of a whole new generation are about to blow their savings – whether they can afford to or not. If my parents had invested the 50-grand in a TSX index fund, and reinvested the dividends, it would be worth more than $180,000 today.
When factoring in inflation, that’s the equivalent of more than $66,000 today – a total that doesn’t include the thousands of dollars they spent on 22-karat gold jewellery since my birth in anticipation of my wedding day. Although we persuaded my folks to cut the guest list in half, they still spent about $50,000 on the ceremony and the reception in 2003. My husband and I will celebrate our 17th anniversary this year, but we still think our big, fat wedding was a colossal waste of cash. Sorry, Mom and Dad, that day hasn’t come.
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