Special report: Weddings and life events 2015
A wedding or civil partnership ceremony is one of those events that will stay with you for the rest of your life – and it seems people in Europe are forking out for the cost.
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The wedding or the house? A realistic look at costs of life events for people in Europe
Executive summary
A wedding or civil partnership ceremony is one of those events that will stay with you for the rest of your life – and it seems people in Europe are forking out for the cost. This survey of 12,743 people in 13 countries found holding a wedding or civil partnership ceremony was the most expensive life event that people in Europe experienced in the last five years. For the second most expensive moment, people gave a range of “other” answers, which include illness, or the death of a loved one. Divorce is the third most expensive life event, followed by unemployment and redundancy.
However, the median cost of a wedding in Europe in the last five years was only EUR5,000, a much lower figure than many that hit the news headlines. The median figure is used in this report to get a realistic number, not skewed by very high (or very low) responses. People at the upper end of the “big day” budget said they spent more than 10 times that amount, giving an answer in excess of EUR50,000.
People who married or had a civil ceremony in the last five years are more likely to agree that they got into debt for their big day. The trend is seen in 12 of 13 countries surveyed. The reasons behind the finding are not clear, however, the period coincides with the aftermath of the global financial crisis, which may have increased financial pressure. The way people in Europe expect to celebrate their union may have also changed.
Men and women are both very likely to save specifically to fund all or part of their big day. However, when it comes to other ways to fund it, there are differences between the sexes. Women are more likely to receive money gifted from family – perhaps reflecting traditions. While it is common in modern life in many countries for a couple to fund their celebration, traditionally a bride’s parents paid. Men are more likely to borrow to pay for the ceremony – both from a financial institution or from loved ones.
It seems most are happy with the amount they spent. Only a third of people in Europe agree their big day would have been better if they had more to spend. Big celebrations tend to be a family affair, with many people giving advice – but balancing the interests of all parties can be a challenge. This is demonstrated by the 52% of people in Europe who agree that expectations of friends and family have too much influence on how much is spent on marriage or civil partnership celebrations.
Given a choice between a lavish ceremony or spending money on a house, most people in Europe prefer the house. Germany is the only country where the share agreeing falls below half.
For guests, the costs of attending a wedding or civil ceremony might include a special outfit, travelling and buying a gift. Overall, 62% of people in Europe agree weddings are too expensive for guests to attend.
This survey of 12,743 people in 13 countries found holding a wedding or civil partnership ceremony was the most expensive life event that people in Europe experienced in the last five years. It found many couples prefer to spend money on a house than a bigger ceremony and most guests are feeling the pinch of celebrating weddings and civil unions.
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