The wedding information media "Wedding.ESDlife" released the results of its "2024 Wedding Spending Survey" yesterday (Nov. 27), predicting that the number of weddings this year will be 46,000. The average wedding expenditure for couples is expected to drop slightly by 2% to HK$41,000, with various wedding expenses decreasing by at most 8%. The only exception is the banquet expenditure, which has risen by 10%.
From September to November of this year, "Wedding.ESDlife" surveyed 806 couples planning to marry between 2024 and 2026. The survey revealed that total wedding spending, after two years of increases, has decreased by 2% from last year's HK$419,751 to HK$410,079.
The figures reflect that the economic environment has led couples to be more cautious in planning their wedding budgets and expenses. There is a downward trend in various wedding expenditures, such as the average spending on wedding jewelry and rings, which has dropped 17% from HK$114,527 in 2023 to HK$94,542. Expenses for honeymoon trips, wedding dresses, and wedding photography have also decreased by at most 8% compared to last year. The only expense that has risen is the banquet expenditure, which increased from HK$170,886 last year to HK$187,758, marking a 10% rise.
Additionally, up to 80% of couples expressed a willingness to accept electronic cash gifts, citing convenience (73%), unnecessity to deposit cash, checks, and bank vouchers (36%), convenience for guests unable to attend the wedding (26%), and reduced risk of theft (26%) as reasons. However, 74% of guests indicated they would not consider electronic cash gifts, primarily due to a lack of sense of ceremony (68%) and a desire to personally place cash in red envelopes for couples (60%).
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