The weddings market has halved since the beginning of the crisis, to a value of around 650 million euros, while the number of divorces has risen by 17% in the summer months compared with the similar period of 2008, according to ZF's calculations.
The progression of the weddings market can be calculated based on three indicators: the number of official marriages, the budgets allocated for wedding parties and the fees charged by firms that organise such events.
Last year in Romania there were nearly 134,000 marriages, down 10% on 2008, according to data from the National Statistics Institute (INS). However, in the first eight months of the year, the number of marriages fell by nearly 21% in 2010 against 2008, to almost 90,000 in January-August of this year. If you add the 25-30% decline in budgets allocated for wedding parties, as well as in the fees charged by organising firms, one can get an estimate of the decline of a business worth in the past over 1.2-1.3 billion euros a year. Only half the Romanians who get married also hold a wedding party, say representatives of companies that organise such events.
The weddings market has halved since the beginning of the crisis, to a value of around 650 million euros, while the number of divorces has risen by 17% in the summer months compared with the similar period of 2008, according to ZF's calculations.
The progression of the weddings market can be calculated based on three indicators: the number of official marriages, the budgets allocated for wedding parties and the fees charged by firms that organise such events.
Last year in Romania there were nearly 134,000 marriages, down 10% on 2008, according to data from the National Statistics Institute (INS). However, in the first eight months of the year, the number of marriages fell by nearly 21% in 2010 against 2008, to almo
