Recession Proof Romance

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Surviving the ‘New Normal’

Destination Weddings & Honeymoons Magazine recently unveiled their 2009 research report.
Top line findings reveal that this market continues to spend, travel and are recession-resistant.

Highlights of the research report include:

  • Destination Weddings magazine forecasts the market for such weddings will grow to $16bn this year from $13b in 2008, extending a winning streak that has seen the market boom from just $3b in 2001.
  • The average budget for a traditional wedding has fallen by 7 per cent to $20,398 in the past year because of the recession, while the average for destination weddings has risen 4 per cent since the 2006 survey to $20,600.
  • The average number of guests traveling to attend a destination wedding is 48.
  • Traditional weddings average $124 per guest, while destination weddings triple that average at more than $400 per guest.
  • The average that each guest spends to attend a destination wedding is $1,605 {*excluding airfare}.
  • The Caribbean accounts for just over half of international destination weddings from the US followed by Mexico with 21 per cent. Florida is top US destination, followed by Hawaii, which fell from the top spot.

Source: http://www.reuters.com/article/lifestyleMolt/idUSTRE54A63B20090511

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