The United States economy is rebounding and so are grandeur weddings. The Knot surveyed 17,500 couples married in 2012 and found newlyweds and their families spent an average of $28,427 on weddings and related events, including bridal showers and bachelor/bachelorette parties. The $28,000 benchmark is the highest median since 2008.
Couples increased spending on almost every aspect of weddings, including invitations, flowers, and catering. More than 25 percent of couples splurged on entertainment, hiring a live band or photographers, which is double the 2011 statistic.
Anja Winikka, The Knot’s site director, credits this increase to the economic upturn.
“Couples are a little bit more comfortable and able to splurge a little bit more,” she said.
Statistics support her assertion. A smaller percentage of respondents were impacted by the economy. Only 26 percent of couples reported the economy as a factor in their wedding budget, compared to 29 percent in 2011.
Same-sex couples, who were included in the survey for the first time, spent more on their wedding than heterosexual couples, but had fewer guests.
More than 50 percent of marriages end in divorce, according to the American Psychological Association, so is an expensive wedding worth the cost?
The Knot’s full findings are included in the infographic below.