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Thursday, 5 April 2018

Counting the costs of that “one special day”

Counting the costs of that “one special day”: Wedding season is upon us. And for many of the happy couples out there, it’s the season of jitters — and it’s not because of commitment fears. Costs of getting married have continued to rise globally. In the UK, couples in 2017 spent an average of GBP 27,161 for that one special day. In Egypt, the costs are far greater. The numbers vary, but from we’re seeing an urban middle-income couple could plurge see costs reach between EGP 600k to well over EGP 1 mn. Even in Egypt’s poorer rural communities, expenses can get as high as EGP 150k. It is perhaps not surprising that 13.6 mn Egyptians over the age 18 are unmarried, according to the CAPMAS 2017 census.

Why is it that bad? Beyond inflation and unemployment, probably the biggest driver of these costs is tradition. Grooms and their families have to make sure an apartment is ready and furnished. There’s also the dreaded Shabka, which at around USD 3,000 is giving plenty of men the cold sweats. Dowries can get up to EGP 50,000. And that’s before the actual wedding itself, which we pride ourselves for making it an extravagant affair, with relatives you’ve never heard of coming out of the woodwork. The state appears to have recognized that it has gotten so bad that there’s a bill floating in parliament to setup a fund to offer couples USD 3,400 in interest-free loans payable in 12.5 years.

Does it have to be this way? Short answer — not really. You can forgo with some of the cumbersome traditions. For the other expenses, CNBC says couples are increasingly looking to marry in the off season to save on costs. With popular wedding dates running between May and October, it perhaps worth looking at alternative dates. Risks that come with it include bad weather and shorter guest list — which may not be a problem at all.

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