Hong Kong News

Nonpartisan, Noncommercial, unconstrained.
Wednesday, Mar 22, 2023

Diamonds really are a Hong Kong girl's best friend

Diamonds really are a Hong Kong girl's best friend

Almost half of brides-to-be want to be proposed to with a diamond ring of at least one carat, while over half would reject a proposal without a diamond ring, a wedding spending survey has found.
Between September and November, e-commerce website ESDlife surveyed 1,226 people who plan to get married between this year and 2024.

As people could not travel abroad due to the epidemic, a "staycation" has been a popular vacation alternative where couples get engaged. Staycation hotels are the most popular proposal venue, with 46 percent of respondents preferring it, followed by homes (21 percent) and restaurants (10 percent).

Some 56 percent of brides-to-be said if there was no engagement ring in the proposal, they would turn it down.

Almost half of them wanted an engagement ring with at least a one-carat diamond.

"This reflects that the ring and the size of the diamond are crucial for grooms-to-be to invest in," ESDlife said.

Couples are also willing to spend more on rings and other jewelry, as the average spending of such items increased 15 percent from last year's HK$93,081 to this year's HK$108,988, "reflecting that couples are more willing to invest in value-preserving wedding jewelry than other wedding items."

Meanwhile, wedding costs have rebounded after two years, as banquet scales have largely returned to pre-pandemic times, following the relaxation of pandemic restrictions.

The average wedding expenditure per couple is HK$384,366, nine percent higher than last year. Banquets use up the largest portion of the cost, at an average of HK$149,044, a 3 percent increase from last year's HK$144,917.

But couples have arranged for fewer banquet tables, from an average of 20 tables in 2018, to 16 tables this year. This shows that couples are more cautious when arranging banquets due to the pandemic - or some of the couples' friends and relatives have migrated and may be unable to attend the celebration.

Now that travel restrictions in many countries have been lifted, couples are willing to splurge on air fare and hotels for an overseas honeymoon - with the average spending rising 10 percent to HK$45,891 from last year's HK$41,276.

The average spending of pre-wedding photography increased by 28 percent to HK$25,534, as couples may choose to take wedding photos overseas.

ESDlife believed the total value of Hong Kong's wedding consumer market this year would reach HK$9.98 billion, a 24 percent increase from last year, as it estimated that about 29,320 couples have already gotten married this year - nine percent up from last year's 26,899 registered marriages.

For guests attending banquets, the average cash gift amount remained the same this year, with HK$1,500 for premium hotels and HK$1,000 for standard hotels, HK$800 for restaurants and HK$1,000 for clubhouses and other special wedding venues.

Related Articles

Hong Kong News
Credit Suisse's Scandalous History Resulted in an Obvious Collapse - It's time for regulators who fail to do their job to be held accountable and serve as an example by being behind bars.
Goldman Sachs cuts outlook for European bank debt over Credit Suisse crisis
Paris Rioting vs Macron anti democratic law
'Sexual Fantasy' Assignment At US School Outrages Parents
The US government has charged Chinese businessman Guo Wengui with leading a $1 billion fraud scheme that cheated thousands of followers out of their money.
Credit Suisse to borrow $54 billion from Swiss central bank
The BBC problem about China
Russian Hackers Preparing New Cyber Assault Against Ukraine
"Will Fly Wherever International Law Allows": US Warns Russia After Drone Incident
If this was in Tehran, Moscow or Hong Kong
Announcing GPT-4
TRUMP: "Standing before you today, I am the only candidate who can make this promise: I will prevent World War III."
China is calling out the US, UK, and Australia on their submarine pact, claiming they are going further down a dangerous road
A brief banking situation report
We are witnessing widespread bank fails and the president just gave a 5 min speech then walked off camera.
Donald Trump's asked by Tucker Carlson question on if the U.S. should support regime change in Russia?.
'No relation to the American SVB': India's SVC Bank acts to calm depositors amid brand name confusion.
Good news: The U.S. government is now guaranteeing all deposits, held by, Silicon Valley Bank, and the funds are available as of today
Silicon Valley Bank exec was Lehman Brothers CFO
In a potential last-ditch effort, HSBC is considering a rescue deal to save Silicon Valley Bank UK from insolvency
Saudi Arabia has announced a major breakthrough in diplomacy with Iran after two years of intense talks
Elon Musk Is Planning To Build A Town In Texas For His Employees
The Silicon Valley Bank’s collapse effect is spreading around the world, affecting startup companies across the globe
City officials in Berlin announced on Thursday that all swimmers at public pools will soon be allowed to swim topless
Fitness scam
Market Chaos as USDC Loses Peg to USD after $3.3 Billion Reserves Held by Silicon Valley Bank Closed.
A primitive judge in Australia sparked outrage when he told a breastfeeding woman to leave his courtroom for being “a distraction"
Barcelona is feeling the heat as they face corruption charges over payments to former vice-president of Spain's referees' committee, Jose Maria Enriquez Negreira
Banking regulators close SVB, the largest bank failure since the financial crisis
Silicon Valley Bank: Struggles Threaten Tech Startup Ecosystem"
The unelected UK Prime Minister Rishi Sunak, an immigrant himself, defends new controversial crackdown on illegal migration
Old clip of Bill Gates saying Ukraine is a big, fat, corrupt sinkhole is going viral
Man’s penis amputated by mistake after he’s wrongly diagnosed with a tumour
2 universities in Hong Kong embrace use of ChatGPT, other AI tools
In a major snub to Downing Street's Silicon Valley dreams, UK chip giant Arm has dealt a serious blow to the government's economic strategy by opting for a US listing
Missing Chinese banker was working to set up Singapore family office
Hong Kong ditches Covid mask mandate after 945 days
Xi Jinping and His Wife Meet with Cambodian King Norodom Sihamoni and Queen Mother Norodom Monineath Sihanouk
How do stolen goods end up on Amazon, eBay and Facebook Marketplace?
It's the question on everyone's lips: could a four-day workweek be the future of employment?
Is Gold the Ultimate Safe Haven Asset in Times of Uncertainty?
Spain officials quit over trains that were too wide for tunnels...
Hello. Here is our news digest from London.
Corruption and Influence Buying Uncovered in International Mainstream Media: Investigation Reveals Growing Disinformation Mercenaries
When it comes to Tesla vs Lamborghini, an empty vessel makes more noise
European MP Clare Daly condemns US attack on Nord Stream
Former U.S. President Carter will spend his remaining time at home and receive hospice care instead of medication
North Korea test-fires an intercontinental ballistic missile into the Sea of Japan west of Hokkaido
US bombed Nord Stream gas pipelines, claims investigative journalist Seymour Hersh
US Joins 15 NATO Nations in Largest Space Data Collection Initiative in History