Age, marital status, and income are significant factors in how people feel about destination weddings and wedding spending.
Have wedding invitation, will travel.
That is the party cry of young, single wedding guests, according to wedding spending trends tracked in a new survey of Affluent investors conducted by Millionaire Corner.
For the third consecutive year, destinations weddings comprise about one-fourth of nuptial celebrations, according to the 2012 Real Weddings Study released earlier this year by TheKnot.com, a website devoted to all things weddings.
Nearly half (47 percent) of Affluent respondents to our survey are on board with destination weddings. They believe that couples should be able to decide how they want to celebrate. But 43 percent have a negative attitude, stating that they put a financial burden on friends and family attending the event.
Related story: Wedding spending was up in 2012. Click here to read more.
Age, marital status, and income are significant factors in how people feel about destination weddings and wedding spending, our survey found. Forty-three percent of respondents under the age of 40 are enthusiastically positive about the prospect of a wedding adventure, compared to just 19 percent of baby boomers and seniors above the age of 60. Conversely, they were the least likely to carp about the financial burden of a destination wedding (29 percent) vs. the 43 percent overall).
Single people, too, are much more positive about the prospect of a destination wedding than their married counterparts, with 28 percent psyched about making the wedding experience an adventure vs. 24 percent of married couples. They are also slightly more likely to state that the location of a wedding is not important (14 percent vs. 10 percent).
Forty-four percent of married couples, compared with 40 percent of Affluent respondents who are single, focused more on the wedding spending burden of a destination wedding on attendees. They also tend to believe that a destination wedding can distract from the meaning of the marriage ceremony.
Not surprisingly, those with less household income are less disposed to relish the prospect of paying for a destination wedding. Nearly half (46 percent) of those with less than $100,000 of household income expressed a negative attitude toward the expenses attached to destination weddings, vs. 39 percent of those with at least $200,000.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.