The Financial Impact of COVID Restrictions on Weddings – We Have The Figures!
We know many of you may have been impacted by the government restrictions around weddings in the last few months, whether you’ve had to cancel or postpone your wedding, or your business has suffered because of the cancellations.
Wedded Wonderland conducted a survey to determine the true financial impact of Wedding Restrictions on Couples and Businesses in NSW and VIC.
Here are our findings:
The impact on NSW Couples;
The average couple in NSW has lost $11,672 to date in having to either cancel or postpone their Wedding
The average spend per Wedding in NSW for these Couples is $80,847
The number of guests on average for these Couples is 258
The impact on NSW Businesses;
The number of Weddings booked for 2020 on average in NSW is 136 per business
Average value per client is $8,259
Number of Weddings or Wedding related events cancelled on average per business is 23
Total monies lost to date due to COVID cancellations or renegotiated quotes/invoices on average per business $179,178
Number of Weddings or Wedding related events postponed on average is 72 per business
Should postponed Weddings or Wedding related events not take place, the average loss of income per business is $1,366,607
The average number of staff lost due to COVID and Current Government Restrictions – 4.5
Image via Mark Jay Photography
Impact on VIC Couples;
The average couple in VIC has lost $11,324 to date in having to either cancel or postpone their Wedding
The average spend per Wedding in VIC for these Couples is $61,561
The number of guests on average for these Couples is 223
Impact on VIC Businesses;
The number of Weddings booked for 2020 on average in VIC is 79
Average value per client is $7,993
Number of Weddings or Wedding related events cancelled on average per business is 14
Total monies lost to date due to COVID cancellations or renegotiated quotes/invoices on average per business $92,231
Number of Weddings or Wedding related events postponed on average is 52
Should postponed Weddings or Wedding related events not take place, the average loss of income per business is $432,000
The average number of staff lost due to COVID and Current Government Restrictions – 3.8
Due to these figures, we think change needs to happen! We have drafted a letter to the NSW government requesting Wedding restrictions be properly considered and eased, as weddings are a right of passage, an entity for many Couples and their families.
You can send find the letter here and send one in yourself to encourage the government to look at the figures and consider easing restrictions! Our letter to the VIC government is coming soon – stay tuned.
We can’t wait to celebrate like we used to once again!
