It’s a good time to be in the wedding business.
While COVID lockdowns wiped out the wedding season in 2020, the industry has recovered sharply, creating a flurry of business for vendors, per The New York Times.
While many of these ceremonies are socially-distant “micro-weddings,” not everybody is cutting back, which brings good news for vendors.
Independent research firm Wedding Report expects the average price per wedding to rise through 2023:
Increased spending could be due to a number of factors, including couples saving up during the pandemic, stimulus checks from the government, and the surging stock market.
Wedding Report expects 2022 to have the most ceremonies since the 1980s before settling back to pre-COVID numbers, which weren’t exactly on the upswing.
Data from the National Center for Health Statistics (NCHS) maps the decline in marriage rates along the following timeline:
Since many couples wait to get married before having children, a baby boom could be next.
Recent data reported across multiple states hints at a turnaround from early in the pandemic when birth rates were declining.
With that in mind, it may not be a bad time to brush up on your babysitting skills.