Wedding Venue Shortage: Increased Demand Through 2024 Means You Should Start Looking Now
The so-called wedding boom is making it harder for couples to find an available venue to say “I do.” Due to COVID-19 postponements, wedding planners and vendors across the U.S. have received a record number of inquiries and bookings through 2024, The Wall Street Journal reported.
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The wedding industry also experienced the effects of supply chain issues and shortages. “A shipment of our dresses were stuck at the port, just as fall wedding season was about to begin,” Monica Ashauer, COO and co-founder of Birdy Grey, told The Knot. “Our entire team was on the phone all day, every day, [with] our freight forwarders for updates on our containers.”
According to predictions from The Knot, 2.6 million weddings will take place in the U.S. in 2022, the WSJ added. The same number of weddings also took place in 2021, causing venues and vendors to find themselves overbooked and pushing up prices.
Those especially eager to tie the knot have resorted to begging, bribery or lowering their expectations. Some couples are even putting down a deposit on venues sight unseen.
Couples planning to walk down the aisle within the next couple of years should book early, be flexible and expect a higher price tag, industry experts advise. The expected average cost for weddings in 2022 and 2023 ranges from $24,300 to $24,900 — up from $22,500 in 2021, according to The Wedding Report.
“We’re probably going to see 2022 as the biggest year in the wedding industry,” Vishal Joshi, chief officer of Joy, an online wedding planning suite, recently told Yahoo Finance Live. “And I think that even the year after we’re probably going to see a good amount of surge.”
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