One of the first same-sex marriages in Australia was the Sydney wedding between two men, 28 year old Michael Petchell and 29 year old Benjamin Gresham, in a fancy event funded thanks to the donations from over 20 suppliers from the wedding industry;caterers, florists, and wedding planners, donated AU$40,000 for the couple’s wedding. An investment, if recent predictions by industry analysts are any indication.
Since the Australian Parliament’s legalisation of gay marriage in December 2017, analysts have recently predicted that the increased number of marriages as a result of the legalisation will increase an approximate 10% in revenues, not only for wedding catering in Sydney but for the wedding industry across the country.
Wendy McCool, responsible for organizing a contest for a free same-sex wedding, says that Australia’s wedding industry, from wedding catering in Sydney to planning in Canberra, is very much excited, for them and for the gay community at large. The legalisation is a great change for Australia, as a country.
The Parliament’s legalisation came after more than one decade filled with failed attempts. The recent success lead the wedding industry across Australia shifting their marketing and buying strategies in order to adapt to the changes. An example of this is how the industry has phased out the term ‘bridal party’ to ‘wedding party’.
The increase in weddings from the legalisation is one that the country’s wedding industry welcomed warmly, due, in part to the gradually declining marriage rate in recent years. Tony Richens, operator and owner of gay website Eikon, says that businesses see the profit in gay weddings.
A report published back in September by Australia and New Zealand Banking Group Senior Economist Cherelle Murphy, says that, if half of the 46,800 known same-sex couples in Australia married, it would boost the country’s economy by AU$650 million within the next 12 months.
Other benefits expected include increased spending from tourists looking to capitalize on the new law, increased confidence from consumers, as well as business from Aussie couples who would’ve have otherwise headed abroad to get married.
University of Sydney Senior Lecturer Hayley Fisher says that the pent-up demands will result in a surge of weddings within the next few years, which will stabilize given time.