Guests Spend Less On Weddings Thanks To Recession

AROUND £178m less will be spent on weddings this year, as the recession even bites on romance.

Nearly two thirds of those planning nuptials have had to change their plans for the big day because they have not got as much cash as they need to do what they want, according to research from insurer LV=.

Just over 11m Brits will go to a wedding this year, and one in eight of them will be asked to contribute cash rather than gifts. One in three Londoners have gone abroad to attend weddings, as couples travel further afield in a bid to reduce costs. Yet guests will still be spending an average of £224 in travel and accommodation costs per couple. A third of couples would be less likely to attend a wedding abroad because of the extra cost during the recession.

The average guest is spending £37 less this year on their friends’ weddings, but the average spend is still £50 each on presents for the bride and groom.

John O'Roarke, managing director of LV= home and travel insurance, commented: "Weddings are clearly an expensive affair - but not just for the bride and groom. Despite the recession this research shows that the average couple will spend over £300 per wedding they attend. People planning on attending or holding their own wedding, both in the UK or overseas such as a Spanish wedding, should have travel insurance in place so that if they do have to change their plans at the last minute they won't be out of pocket.

"In addition, much of this spend will be on wedding gifts so anyone planning their own wedding should check their home insurance policy to ensure it includes an automatic increase in contents insurance to cover wedding gifts. 

"Finally, gifts such as cash will not be covered on most insurance policies, so the bride and groom should make arrangements for any large amount of cash to be deposited somewhere safe rather than left in the house while they are on honeymoon."