SHANGHAI: COVID-19 wasn't kind to wedding planners in China, where marriages are traditionally elaborate, expensive affairs, but the industry estimated at almost US$500 billion is now facing a bigger threat: A plunge in the number of couples willing to tie the knot.
This drop in marriage registrations will exacerbate the decline in births in China, now one of the world's fastest-ageing societies. Many cities deny unmarried mothers child-raising or healthcare subsidies and having children out of wedlock is often frowned upon. 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 more than 100,000 yuan ."People are more inclined to go for a simple and niche wedding," said Chen, adding that a decade ago, it was common for couples to spend millions of 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.
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Source: straits_times - 🏆 5. / 69 Read more »