Here is a possible tourism business idea for 2014: international destination weddings. A recent article in CNNMoney indicates that the average American wedding costs US$30,000. Here’s a breakdown of the biggest costs:
- Wedding Venue & Catering = $13,385
- Engagement Rings = $5,598
- Musical Bands for the Reception = $3,469
- Flowers and Other Decor = $2,069
- Wedding Photos = $2,440
Considering that a wedding’s venue and catering drives the bulk of matrimonial spending, it creates a fantastic opportunity for tourism entrepreneurs to market their services to American couples looking to get hitched.
If you are planning to go after the American wedding market, consider that the primary reason behind such exorbitant spending is the quest for originality – Americans love innovation and new ideas.
While the average spending on weddings continues to rise, the number of guests invited to the event is declining. This creates the perfect environment for international destination weddings, which are often prohibitive due to travel costs. Is it possible that an American couple might have a silver filigree ring made and a ceremony held in Diocletian’s Palace this year? That is the $30,000 dollar question.
*Note: Tricia and I did not have a 30K wedding. 🙂