Response: Hello Nicole, When the statistics say that weddings are a $40 billion a year business, they are including all of the extravagant Hollywood weddings with all thier excess as well as the $2,000 backyard weddings and the trips to the court house. Many such stats include the cost of the rings and the honeymoon in their figures. Technically, those are separate expenses not associated with the wedding day itself, particularly the costs of the honeymoon.
In my opinion, weddings will continue to occur no matter what the economy. However, a severe downturn in the economy may mean that the more lavish weddings are scaled back to more realistic events. The ones who would be most hurt by an economic downturn are not the average merchants assuming they are not carrying a heavy debt load, but the high end ones who make their money catering to the rich and famous. They would need to adjust their prices and expectations and begin focusing on the needs of the average bride.
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