What Wedding?

by Sara Clemence on March 6, 2009 in Lifestyle,Money

moneybouquetLast spring, quite a few people—from Kiplinger to the National Association of Catering Executives—were suggesting that weddings might be recession-proof. As with so many ideas in the early stages of the downturn, that proved to be wrong. Everyone is getting pummeled now, including couples, vendors and honeymoon locations.

People are still getting hitched, but unsurprisingly, they’re cutting back—big. The average amount spent on weddings is expected to drop 10 percent in 2009, says The Wedding Report, a Tucson, Ariz.-based research firm.  And some vendors and venues are going out of business, according to a recent release by The Travelers Companies about wedding insurance. “The reality is that no one entity is immune to the issues with today’s economy,” Alan Tuvin, vice president of product management for Travelers said in a statement.

What’s an engaged pair to do? DIY Bride offers some practical advice on how to recession-proof the big day.

And The Royal Plantation Collection and ABCNews.com are hosting an online contest for a free honeymoon. Send a video (by March 9) explaining how the economy has affected your plans, and you could receive a five-day, four-night trip. The Bahamas Ministry of Tourism also has the Bahamas Bridal Bailout—from March 20 to April 21, couples can enter to win a free destination wedding.

We don’t know the odds of winning, but suggest planning ahead just in case you don’t.

Recessionwire is on Twitter! Follow us to get the latest headlines, tips and insights for surviving and thriving in the recession. http://twitter.com/recessionwire.

Be Sociable, Share!
  • more

Previous post:

Next post: