Wedding market slumps nearly 40% in 1H

Macau’s wedding market has seen a notable slowdown this year, with an industry player reporting a nearly 40% drop in business during the first half (1H) of the year compared with the same period last year.

Some wedding companies expect their business to decline by nearly 40% this year compared with last year, with wedding banquet sizes continuing to shrink, business declining across the sector, and operational pressures mounting, according to a Chinese-language report by Macao Daily News

Pang Man Hoi, president of the Association of Wedding and Banquet Planning of Macao, reportedly said this year’s wedding market sentiment has been weaker than last year, attributing the decline to the changing attitudes of couples born after 2000 – now the main driver of wedding spending – who increasingly favor minimalist celebrations over traditional grand banquets.

According to him, in the past, couples would host 20 to 30 banquet tables, bringing with them a range of related services such as floral arrangements and photography, but now most couples opt for smaller weddings with only seven to eight tables, often choosing restaurants over hotels, with everything scaled down.

He noted that wedding production budgets had fallen sharply, from an average of MOP20,000 to 50,000 per wedding previously to just MOP10,000 to 30,000 now.

The downturn has made it difficult for smaller wedding companies to survive, with some having already exited the market and others diversifying into advertising or event planning to supplement income, while larger firms have remained more resilient.