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Queensland Economic Advocacy Solutions

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Same Sex Marriage to boost the Queensland Economy

November 15, 2017

Same sex marriage is primarily an ‘equality’ issue not an ‘economic’ one but there is a substantial benefit to the Queensland economy estimated at $130 million in the first year alone if it comes to pass.

Whether readers voted ‘yes’ or ‘no’ what they would no doubt realise is there is a section of the community who want to get married but currently are unable to do so.  That barrier if removed through the ABS Marriage Law Postal Survey results will mean a benefit to the economy that has the potential to create up to 2,200 jobs.

The 2016 Census estimated the number of same sex couples in Queensland at over 8,000 couples and previous work by the University of Queensland estimates that approximately half of these couples would get married.  This would mainly benefit retailers, hospitality and tourism related businesses. Whilst the theoretical headline numbers are quite impressive it’s the practical benefit that we can really relate to.

First of all there is the engagement party, that means gifts are bought from retailers and food and beverage purchased either for a private event or a venue. Now fast forward to the wedding day:

  • Couples want to look their best;
  • Guests want to look their best;
  • Rings are bought;
  • Presents are bought;
  • Florists provide the bouquets;
  • Cakes are baked;
  • Limos are booked;
  • Photographers take their photos;
  • Wedding venues are hired;
  • Food is served; and
  • Beverages are drunk.

All of these add to the economy and it is quite easy to see why the average cost of an Australian wedding is estimated at $36,000. Then there is the honeymoon that will directly benefit Queensland tourism operators. At present much of this money is splashed in New Zealand where same sex marriage is allowed.

If the Australian Parliament follows through on the ‘will’ of the people, as evidenced in the marriage equality survey, then there will be a substantial benefit to the Queensland economy. Differing opinions aside this is the economic reality.

For full disclosure I voted ‘yes’, I am a catholic, married, a father of two beautiful children and respect the right of all individuals to have their own beliefs whatever that may be.

Source: QEAS & ANZ.

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