Las Vegas reveals latest forecast for Gen Z couples
LAS VEGAS – The Wedding Capital of the World recently hosted its annual Wedding Industry 2023 gathering for Southern Nevada businesses. During the event, guests heard the latest wedding forecasts for Gen Z couples as well as the most up-to-date news on the Las Vegas wedding industry and its ranking on a global scale.
Information presented by Clark County Clerk Lynn Marie Goya, Clark County Commissioner Michael Naft, the Las Vegas Convention and Visitors Authority, the Vegas Wedding Chamber and more was shared just months ahead of the Wedding Capital of the World’s iconic 70th Anniversary Celebration, which will be held Sept. 3 at Caesars Palace.
The presentation revealed that North America’s current destination wedding market value of $3.493 billion is expected to reach $8.166 billion by 2033, according to the Global & North America Industry Analysis 2017-2021 and Opportunity Assessment 2022-2032. Destination wedding market drivers include consumers seeking stress-free weddings, the ability to find destinations with perfect weather, more quality time with guests and availability of well-facilitated wedding destinations.
Among destination weddings in the United States specifically, Southern Nevada accounted for 3.5% of the wedding market share in 2021, according to the Clark County Clerk’s marriage license data. Eighty percent of licenses issued in Clark County in 2022 were to out-of-town couples, and 14.89% of those went to couples from international markets.
Additional data from the Clark County Clerk also states millennials accounted for the largest demographic to marry in 2022 in Las Vegas at 53.1% of the market share. Yet Gen Z is on the rise as a fast-growing market in Las Vegas, accounting for 8.9% of the market in 2022.
With climate change stated as Gen Z’s biggest concern, according to the industry analysis and opportunity assessment, it is crucial to utilize sustainable brands as part of wedding packages. With 57% of Gen Z willing to pay more for brands that do good for the environment, adding sustainability and carbon offset information into wedding products and services can be extremely valuable. For Gen Z consumers, it is also paramount to emphasize stress-free wedding experiences.
Similarly to millennials, more than 80% of American Gen Z travelers look for unique experiences when booking a vacation. For ultimate success, destination wedding professionals should consider finding partners in entertainment, transportation, hospitality and restaurants to create shared group experiences.
Social media continues to provide value when marketing to younger consumers. According to the same industry analysis and opportunity assessment, 22% of customers stated social media was highly effective in influencing their decisions for destination wedding planning. With Gen Z spending more than four hours a day on social media, they prefer mobile-first experiences for research and booking. These consumers are also seeking TikTok and Instagram-worthy experiences to share valuable wedding moments and to relive the experience. Top social media platforms used by wedding service providers also include Facebook, YouTube, Twitter and Instagram.
Popular destination marketing trends also include cultural and heritage locations, personalization, wedding planners and customized wedding tour packages, the rise in honeymoon travel and destination weddings rather than simple leisure tours, drone videography over traditional videography and eco-friendly weddings.
Consumers are also shifting their preferences to high-value premium spots, including higher quality of service, uniqueness and personalization, according to the industry analysis and opportunity assessment. “Premiumization” bridges the prevailing gap between economic and luxury destinations in the market and is quickly gaining popularity.
This September 3, Las Vegas will celebrate its 70th anniversary as the Wedding Capital of the World. With more than five million “I do’s” and counting, each year Las Vegas conducts more destination weddings than any other place on the planet. For well over 70 years a “Vegas wedding” has captured the public imagination as the ultimate quick, stress-free, fun, glamourous wedding destination.
The article Las Vegas reveals latest forecast for Gen Z couples first appeared in TravelDailyNews International.