Credit Card News Morgan Stanley Weddings Cost Brits Billions 15097956

Morgan Stanley: Weddings cost Brits billions

24 November 2005
Attending winter weddings will cost Brits £4.4 billion this year, according to a report by Morgan Stanley Credit Card.

The credit card provider found generous Brits who attend the weddings of family and friends this winter will spend an average of £292 on gifts, outfits, travel and accommodation.

Men will be particularly generous, according to Morgan Stanley, forking out 75 per cent more on gifts than women.

Marketing director at Morgan Stanley Credit Card, Patrick Muir, said: “Weddings have predominately been thought of as a costly business for the bride and groom.

“However, our research shows that it is not only the happy couple that will be spending on their cards.”

Fifty-somethings are expected to spend more than any other age group on winter weddings, with their total average spend reaching £558.

But those in their twenties are expected to be the best dressed, spending over £100 on their oufit – 70 per cent more than the national average.

Morgan Stanley Credit Card says Brits could save by sharing the price of wedding gifts among friends or by buying gifts using a credit card that gives cash back.

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Written by Editorial Team