I would like to see an equivalent study on Indian weddings. All the people I know who got married recently spent between $50-$100k on their wedding. My own wedding was about $50k. Food alone was nearly $20k (over 1200 guests were invited - which was on the low end)
I had 8 guests at my marriage and reception (France, 1995). It was purely by choice (no money constraints involved) and while the parents were a bit surprised, their opinion is that it was our marriage, not theirs.
This is unusual but when I mention that people are either indifferent or curious. Nobody takes this as "socially degrading" (for lack of a better expression)