A large Australian bank ANZ came to the conclusion that the legalization of same-sex marriage in Australia brings the economy to a 1 billion Australian dollars.
Basically it will benefit small businesses, particularly those associated with the organization of weddings. Also, it will spur the economy through the increased flow of tourists, who will see that the country is becoming more liberal, progressive and hospitable.
In the long term the economy will benefit from the growing welfare of the citizens: it is known that marriage contributes to the financial well-being. Married couples often insured against the financial turmoil; and non-discrimination will reduce the stress level and the amount of depression among homosexuals.
The report’s authors believe that during the first 12 months after legalization would be a big hype around the wedding, then demand will fall. They believe that it will be spent not less than 500 million Australian dollars, and this is the most modest expectations. If at least half of Australian gay couples take advantage of the potential to legitimize the relationship, the economy will receive up to a billion Australian dollars.
These figures are derived from the calculation that the average couple spends on wedding ceremony 51,000 Australian dollars (36,000 US dollars or 32,000 euros), not including possible spending on honeymoon.