The Cost of Wedding Banquets Is Soaring in Singapore
This article originally appeared on ValuePenguin If you are planning to get married soon, there’s an uncomfortable fact that you need to be aware of: the cost of a wedding in Singapore is rising extremely quickly. What’s even more interesting is that this is occurring amidst trouble in the overall food and beverage sector in the country and the economy is expected to be “sluggish” in the months ahead. Below, we discuss our findings of collecting and analyzing prices of 47 most well-known wedding banquet venues in Singapore. The Cost of Wedding Banquets Has Risen by Almost 50% Since 2011 By comparing the average price of 47 different banquet venues in 2011, 2015 and 2017, our team at ValuePenguin found that the average price of these 47 locations has risen by 49% from S$1,033 (for a weekend dinner) in 2011 to S$1,536 in 2017. This growth was more than 2x higher than the 22% increase in median income excluding CPF contribution, and almost 6x higher than rate of inflation of 8.6% since 2011. To put that in perspective, that represents around S$46,100 of cost for a banquet with 300 people. Given that the median income excluding CPF contribution was around S$3,600 in 2016, this means that
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