Experts believe as much as £18 million in the first year
San Francisco, CA -- (SBWIRE) -- 02/05/2013 -- While sectors of the British economy still toil and struggle, there is one section of the economy that is likely to see a consistently positive boost in the coming years: Gay Marriage. According to experts, the gay marriage industry could bolster the British economy by £18 million within the first year, said ministers.
Experts have predicted that the introduction of the same-sex weddings could eventually lead to 3,000 unions on top of the 6,000 already held each year.
The Government has estimated that these ceremonies could be capable of adding an additional £4,750 of spending per wedding, which would come out to a total somewhere around £14.4 million. Hoteliers, florists, caterers, as well as gift stores, and of course planners and Djs would all likely benefit from the 50% surge in wedding expenses.
There are thousands of same-sex couple that are expected to turn their currently civil union into an official marriage, which one analysis states that may deliver a cool £3 million injection into the economy.
The officials also assume that many same-sex couples from foreign countries are likely to make their way to the U.K. In order to enjoy the opportunity an official union ceremony.
Boris Johnson, Mayor of London, stated that ““Marriage should be open to all, regardless of sexuality.
“I have no doubt marriage equality is of benefit to our economy, and that in itself is a good thing.”
While the largest boost is expected within the first year, during which a larger than average influx of couples will seek to tie the knot, the move is likely to have a long-term positive effect on the countries bottom line. The Lesbian and Gay Lawyers Association stated that there will also be an influx of same-sex couples from abroad that look to enter England and Wales to get hitched.
“The requirements for residents are relatively easy to meet (contrary for example to Spain), most people speak English and England is known for picturesque country settings. We expect a modest boost to the tourism industry,” it said.
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