Fewer 'I dos' ruin the party for China's $500 billion wedding industry

  • 📰 SaltWire Network
  • ⏱ Reading Time:
  • 58 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 63%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

By Casey Hall and Farah Master SHANGHAI/HONG KONG (Reuters) - COVID wasn't kind to wedding planners in China, where marriages are traditionally ...

By Casey Hall and Farah Master SHANGHAI/HONG KONG - COVID wasn't kind to wedding planners in China, where marriages are traditionally elaborate, expensive affairs, but the industry estimatedBy Casey Hall and Farah Master

"The number of marriages is falling and few are willing to spend a lot on weddings," said Yuan Jialiang, who ran a full-scale wedding planning business for almost a decade in Shanghai before switching to focus on wedding photography before the pandemic.There were 6.8 million marriages across China last year, 800,000 fewer than in 2021 and the lowest since the government began publishing the data in 1986.

Couples traditionally splash out on gold jewellery, elaborate decor and luxury venues but Frank Chen, from Chen Feng Wedding Planning in Shanghai, says few weddings this year had a budget of over 100,000 yuan . Jewellery companies Chow Tai Fook and TSL said they expect demand for wedding jewellery this year to return to pre-pandemic levels."It's just the COVID backlog," said wedding planner Xueyi, whose business in Xi'an and Shanghai has also seen a spike this year."Some of my clients who had bookings rescheduled have actually separated."The economic downturn has hit the middle class, and the youth, the hardest, resulting in high jobless rates and low household spending.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 45. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. business optimism about China outlook falls to record lowBy Casey Hall SHANGHAI (Reuters) - Geopolitics and a slowing economy are fuelling pessimism among U.S. businesses operating in China, with the ...
Source: SaltWire Network - 🏆 45. / 63 Read more »