Spending on Weddings Reach Record High in Hong Kong
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The amount of money spent on a wedding by a Hong Kong couple has reached a record high. In 2014, couples spent more than 311,887 Hong Kong dollars ($40,218 U.S. dollars) on average to tie the knot, according to the latest survey from EDSLife, a popular lifestyle portal in Hong Kong. This means that Hong Kong wedding industry is now worth 17.2 billion HKD ($2.2 billion U.S. dollars). In the U.S., studies from the Knot say that couples only spend $31,213 on their big day.
The largest expense for new Hong Kong couples is the wedding banquet, which cost 159,519 HKD on average, meaning the market for Chinese wedding banquets alone is estimated to be worth around 8.8 billion HKD.
The largest expense for new Hong Kong couples is the wedding banquet, which cost 159,519 HKD on average, meaning the market for Chinese wedding banquets alone is estimated to be worth around 8.8 billion HKD.
Photo: fete-eventplanner
The traditional Chinese banquet is not just the meal. It’s a gesture of “thanks” and appreciation to the couple’s parents for raising them and allowing them to get to this stage of their life. The food and beverage portion of the banquet typically involves first getting banquet invitations, which often includes sweet treats (cookies or pastries) to be sent by mail to the guests, and then five to ten courses for the wedding itself, with ingredients such as abalone, lobster, shark’s fin, fish roe, swift nests, and decorations around the food that symbolize fertility and local delicacies.
“Chinese banquets are definitely the most expensive component of Hong Kong weddings,” says Vicky C., Chief wedding planner and stylist at The Theme Wedding, “Wedding packages at hotels in Hong Kong increase by 10-15% per year but on the other hand, the package includes more, such as an extra night stay at the bridal suite and better quality meals.”
“Chinese banquets are definitely the most expensive component of Hong Kong weddings,” says Vicky C., Chief wedding planner and stylist at The Theme Wedding, “Wedding packages at hotels in Hong Kong increase by 10-15% per year but on the other hand, the package includes more, such as an extra night stay at the bridal suite and better quality meals.”
Photo: fete-eventplanner
The categories behind wedding banquets are wedding rings and accessories, honeymoons, and wedding photography. These four expenses account for 87% of each couples’ total wedding consumption. But nowadays, couples are willing to spend more on newer categories such as celebrity emcee’s which start from 20,000 HKD and can reach up to 500,000 HKD per show, says Isaac Y., wedding planner at The Theme Wedding.
Another category that has been on the rise in the last few years is wedding photography. An average session with a wedding photographer costs around 22,635 HKD but can easily go up to 80,000 HKD, says Jackson Ho, wedding planner at Match & Fusion, who works with all tiers of wedding photographers in Hong Kong.
Another category that has been on the rise in the last few years is wedding photography. An average session with a wedding photographer costs around 22,635 HKD but can easily go up to 80,000 HKD, says Jackson Ho, wedding planner at Match & Fusion, who works with all tiers of wedding photographers in Hong Kong.
Photo: pinkwedding
And even though the number of couples getting married in Hong Kong has been on the decline, according to surveys from the Hong Kong Census and Statistics Department, that doesn’t seem to have affected the wedding industry at all. “My business has been unaffected by those statistics,” says Ho, “Statistics also say that females are getting married when they are older but I still get clients that are born post 1990’s. Of course, usually with these clients, their parents pay for most of the wedding because they are wealthier.”
