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

  • 📰 Investingcom
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 53%

United States News News

United States United States Latest News,United States United States Headlines

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

SHANGHAI/HONG KONG - COVID wasn't kind to wedding planners in China, where marriages are traditionally elaborate, expensive affairs, but the industry estimated at almost $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. "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.

 

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

 /  🏆 450. in US

United States United States Latest News, United States United States Headlines

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

Fewer 'I dos' ruin the party for China's $500 bln wedding industryCOVID wasn't kind to wedding planners in China, where marriages are traditionally elaborate, expensive affairs, but the industry estimated at almost $500 billion is now facing a bigger threat: a plunge in the number of couples willing to tie the knot.
Source: Reuters - 🏆 2. / 97 Read more »