Saudis spend over Dh2bn on weddings a year
Saudis have emerged among the most extravagant people sepnding on weddings, lavishing more than SR2 billion (Dh2 billion) every year on such events.
The Arabic language daily ‘Al Watan’ said jewellery and dresses, mainly for brides, account for more than 50 per cent of wedding expenses.
“Massive wedding expenses in Saudi Arabia are a key reason for the strong business in the cosmetics sector which is the largest in the Middle East,” the paper said, quoting Iman Abdul Shakour, head of the committee organising the Gulf Kingdom’s annual wedding festival, which opens in the Western Red Sea port of Jeddah on Monday.
She said grooms in Saudi Arabia and the other five GCC countries spend at least $700 million (Dh2.5 billion) a year on jewellery.
“The average spending on jewellery by a wedding couple in the GCC is nearly $25,000 (Dh92,000). This is one of the world’s highest rates, if not the highest.”
She said heavy wedding expenses have maintained high growth in the cosmetics business in the GCC, with a projected growth of 15 per cent to $1.7 billion (Dh6.3 billion) in 2015.
“We should also not forget that per capita consumption of make-up items and perfumes by Gulf people is one of the world’s highest.”
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