Latest Breaking News Online News Portal
The Knot Worldwide CEO Tim Chi argues ‘supply chain issues and labor shortages are real’ at a time when wedding demand is surging.
The wedding industrial complex is strong in the United States, and a new global study has captured data showing how Americans approach weddings differently from their international counterparts.
The Knot Worldwide, a leading wedding magazine and an online wedding planning resource, collaborated with its national and international sister publications and released a “2023 Global Wedding Report,” which surveyed over 25,000 couples across 15 countries.
The Knot Research & Insights team published the global report on Friday, June 2.
MONEY-SAVING TIPS FOR WEDDING GUESTS AS INFLATION MOUNTS: ‘COST OF FUN’
It broke down wedding trends in the U.S. and how those trends compare to wedding trends in Argentina, Brazil, Canada, Chile, Colombia, France, India, Italy, Mexico, Peru, Portugal, Spain, Uruguay and the U.K.
The global report identified key data points.
The Knot Worldwide and its sister publications analyzed wedding trend responses from over 25,000 couples across 15 countries in the company’s 2023 Global Wedding Report. (iStock / iStock)
Those data points cover premarital relationship trends, how couples are being impacted by the economy, how they plan to spend their wedding money, the general wedding planning process — and which wedding traditions are in or out.
“The wedding industry was resilient throughout COVID-19 and bounced back quicker than most expected — but that doesn’t mean it was unchanged,” said The Knot Worldwide’s CEO Tim Chi in a statement.
“Weddings look different than they did before and during the pandemic — which is why we’re calling 2023 the year of transformation,” he continued.
WHO PAYS FOR WHAT IN A WEDDING?
“We found that after spending time apart from family and friends, celebration is more important than ever and couples are creating new ways to wow their guests,” he also said.
“They’re also rethinking what matters most and incorporating what’s authentic to them.”
Premarital relationship trends for 2023
American couples are meeting and living in different ways than they did in previous generations. (iStock / iStock)
How do most American couples meet?
Nearly one-third (32%) of American couples meet online, The Knot’s global wedding report found.
Meeting virtually is reportedly the most common way Americans are finding their long-term romantic partners.
Having mutual friends was the most common way couples met outside the U.S.
In seven countries, one-in-five or one-third of couples met because they had friends in common, including Argentina (21%), Uruguay (21%), Brazil (24%), France (27%), Portugal (27%), Spain (31%) and Italy (33%), The Knot found.
DATING APPS FLOURISH AMID CORONAVIRUS PANDEMIC AS SINGLES GET SERIOUS ABOUT DATING
Meeting a significant other through work was the second most common way couples met outside the U.S.
Colombia (21%), Chile (22%), Mexico (23%) and Peru (33%) were the four countries in which meeting a loved one at work was most prevalent.
Thirty-two percent of American couples reportedly met online before their first date, according to The Knot’s 2023 Global Wedding Report. (iStock / iStock)
In India, 40% of couples meet their long-term romantic partner through an arranged marriage, according to The Knot.
Canada tied with the U.S. in terms of online meetings, while the U.K. was a close second with 30%.
How many Americans live together before the wedding?
Three in four American couples (78%) reportedly live together before their weddings, according to The Knot.
Three out of four American couples reportedly live together before getting married, according to The Knot’s 2023 Global Wedding Report. (iStock / iStock)
The U.S. tied with Argentina on premarital cohabitation.
Yet both countries were surpassed by Portugal (80%), Italy (81%), Uruguay (82%), Canada (82%), the U.K. (90%), France (91%) and Spain (91%).
ENGAGEMENT-RING SHOPPING: WHAT YOU NEED TO KNOW BEFORE YOU BUY THAT ROCK
The six countries that have a lower premarital cohabitation rate than the U.S. are Chile (75%), Colombia (52%), Peru (43%), Mexico (42%), Brazil (41%) and India (15%), according to The Knot’s findings.
How the economy, spending plans look for 2023 newlyweds and soon-to-be-weds
American couples are spending more on weddings than previous generations, according to The Knot’s annual “Real Weddings Survey.” (iStock / iStock)
Are American couples concerned about the economy?
Half of American couples (51%) told The Knot that their wedding budget and plans were affected or are now being affected by the current economy.
The Knot broke down economic concern responses into three categories: lower (below 35%), medium (35% to 55%) and high (over 60%).
Six other countries showed “medium” concern over the economy, including Mexico (39%), Chile (43%), Colombia (46%), Brazil (48%), Peru (51%) and Canada (52%).
WEDDING GIFT SPENDING: HOW MUCH IS TOO MUCH? HOW MUCH IS NOT ENOUGH?
Argentina is the country with the highest economic concern, with 68% of Argentinian couples saying their wedding budgets and plans were affected by the 2023 economy, according to The Knot.
Half of American couples have had their wedding budgets and plans affected by today’s economy, according to The Knot’s 2023 Global Wedding Report. (iStock / iStock)
The five countries that showed the least concern about the economy — with only three in 10 having wedding budgets and plans affected — were Spain (30%), the U.K. (30%), Portugal (31%), France (31%) and Italy (34%).
How much money are Americans spending on weddings?
American couples are reportedly spending $30,000 on 117 wedding guests, according to The Knot.
The approximate average, which is based on self-reported numbers from readers and users of The Knot’s wedding planning platform, can vary by guest count, location, season and other factors.
The U.S. has the highest wedding expenditure out of all the countries The Knot surveyed.
On average, American couples reportedly spend $30,000 for weddings, according to The Knot’s 2023 Global Wedding Report. (iStock / iStock)
India could be a close second in terms of wedding spending, but the data The Knot collected varies so much that the tech company couldn’t come up with a certain average.
Indian newlyweds reportedly spend $25,000 as a “midpoint” and have 285 wedding guests on average, but some 15% of Indian couples spend over $45,000 on wedding celebrations, according to The Knot’s findings.
WEDDINGS ARE BOUNCING BACK, AND SPENDING IS INCREASING
The U.K., Italy and Spain were three countries that tied with a $23,000 average wedding expenditure. U.K. couples reportedly spend this for 81 guests on average while Italian couples reportedly spend this for 109 guests on average and Spanish couples reportedly spend this for 115 guests on average.
The four countries that spend more than $10,000 but less than $20,000 on average are Uruguay ($15,000; 115 guests), Portugal ($17,000; 112 guests), France ($19,000; 97 guests) and Canada ($19,000; 89 guests), according to The Knot.
American couples reportedly have an average wedding guest list of 117 people, according to The Knot’s 2023 Global Wedding Report. (iStock / iStock)
People in five countries reportedly spend less than $10,000 for weddings on average, including Argentina ($4,000; 106 guests), Colombia ($5,000; 76 guests), Mexico ($8,000; 145 guests), Brazil ($9,000; 125 guests) and Chile ($9,000; 89 guests).
What are the top five wedding vendor categories for Americans?
While some couples like to take on DIY projects to save money on wedding celebrations, there are five wedding vendor categories Americans aren’t skimping on for the big day, according to The Knot.
Ninety-three percent of American couples are buying or renting a new wedding dress for the bride.
Photography is the next most “hired” wedding vendor category in the U.S., with 88% of couples hiring a professional photographer on the big day.
Ninety-three percent of American couples are buying or renting a new wedding dress for the bride. (iStock / iStock)
The groom’s attire is the third high-priority wedding vendor for most American couples, with 87% buying or renting a new outfit for the groom.
‘MICRO-WEDDING’ TREND SPARKED BY CORONAVIRUS BRINGS BUSINESS BACK TO HOTELS
Catering and cake rounded out the top five, with 86% and 79% of American couples choosing to hire professional food preparers and bakers, respectively.
Wedding planning trends for 2023 newlyweds and soon-to-be-weds
American weddings have gotten more elaborate over time and take more time to plan. (iStock / iStock)
How long is it taking Americans to plan weddings?
It’s taking American couples 15-16 months to plan weddings on average, The Knot found.
Couples in the U.K. are taking just as long to plan their weddings, while French couples are taking 13-14 months to plan their weddings on average, according to The Knot.
AI TOOL HELPS COUPLES WRITE WEDDING VOWS AS MARRIAGE EXPERT WARNS, ‘BE CAUTIOUS’ WITH TECHNOLOGY
Spain, Portugal, Italy and Brazil are four countries in which couples reportedly take 11 to 12 months to plan a wedding.
American couples take 15 to 16 months to plan weddings on average, according to The Knot’s 2023 Global Wedding Report. (iStock / iStock)
Engaged couples in Mexico, Chile, Argentina and Uruguay reportedly take eight to 10 months to plan a wedding while engaged couples in Colombia and Peru reportedly take six to seven months.
India has the shortest average planning timeline, which takes between five and six months, according to The Knot.
Which month is the ‘most popular’ time to wed in the U.S.?
October is the most popular time to plan weddings in the U.S., with one-in-five American weddings (20%) happening in the 10th month of the year, The Knot reported.
Outside the U.S., the most popular month to get married varies from August, September, November, December and February, according to the counties The Knot surveyed.
WEDDING WINNERS 2022: THE 10 BEST STATES FOR WEDDINGS THIS YEAR (DID YOUR STATE MAKE THE LIST?)
November was the most common wedding month in Argentina, Brazil, Chile and Mexico.
Twenty percent of American couples reportedly get married in October, according to The Knot’s 2023 Global Wedding Report. (iStock / iStock)
August: Canada (20%) and the U.K. (15%)
September: Spain (18%), Italy (24%) and Portugal (18%)
October: The U.S. (20%)
November: Argentina (20%), Brazil (12%), Chile (18%) and Mexico (18%)
December: Colombia (17%), India (32%) and Peru (16%)
February: Uruguay (18%)
What is the ‘most popular’ reception location in the U.S.?
Americans appear to be split between banquet halls and barns when booking wedding reception venues, according to The Knot.
Banquet halls and barns are the two most popular wedding reception locations for American weddings, according to The Knot. (iStock / iStock)
Both options tied with 20% of American couples choosing a banquet hall or barn for post-ceremony celebrations.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The Knot’s global wedding report found that gardens, villas and hotels were more commonly selected as reception venues by couples who live outside the U.S.
Where do American couples stand on wedding traditions?
(First dance vs. cake cutting vs. bouquet toss)
American couples seem to like some wedding traditions more than others, according to The Knot.
American couples are split on first dances, cake cuttings and bouquet tosses, according to The Knot’s 2023 Global Wedding Report. (iStock / iStock)
Eighty-nine percent of newlyweds had a first dance, while 74% of newlyweds participated in a cake cutting.
Less than four-in-10 newlyweds (37%) had a bouquet toss at their wedding.
CLICK HERE TO READ MORE ON FOX BUSINESS
You can read The Knot’s full 2023 Global Wedding report at: theknot.com/content/wedding-data-insights/global-wedding-report.
