Wedding business fairly risky, study finds

According to the survey, nearly one-in-three, or 29.1%, of the country's venues are at a high level of economic danger while 60% are in moderate danger while just 10.6% are at a low risk level.

By YONI TEITZ
July 19, 2007 06:32
1 minute read.
wedding biz 88 298

wedding biz 88 298. (photo credit: Ariel Jerozolimski)

A new study by business research firm Dun & Bradstreet has found that the Israeli wedding industry generates some $2 billion in revenues annually, yet despite that figure a significant number of event venues are at economic risk. According to the survey, nearly one-in-three, or 29.1 percent, of the country's venues are at a high level of economic danger while 60% are in moderate danger while just 10.6% are at a low risk level. Most wedding halls in the country are centered around Tel Aviv and Haifa due to the large, middle- to- upper class populations in those areas, as well as ease of transportation for guests. The study finds that halls in those areas are faring slightly better than the rest of the country, with just 22% and 21%, respectively, in economic danger, compared to 24% in the south and the coastal plain. The industry, according to the study, comprises some 800 businesses, with 40,000 weddings conducted per year. The survey also revealed the latest trends in weddings and marriage, revealing that 63 percent of couples now prefer to marry in outdoor reception areas, as opposed to halls. A shortage of attractive halls in major cities, the study found, combined with urban noise restrictions, restrict party locations for most couples, making outdoor areas outside of cities even more appealing. Many kibbutzim and moshavim have taken advantage of this trend, the study also found, noting that while in the past many kibbutzim insisted on only raising money through agriculture, they now have begun using spare fields as wedding locations and a valuable source of additional income. Due to Israel Lands Administration restrictions, however, the survey indicated that most of these kibbutz reception areas only operate on a temporary basis. Meanwhile, the study noted that most Israeli men marry between the ages of 25 and 29, while women marry earlier, between 20 and 24; that most weddings here take place between the middle of July and the end of September, and that venue and service prices consequently rise sharply during that period. Thursdays are also much more requested for weddings and consequentially more expensive, the study found.


Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection

By GLOBES, NIV ELIS