Britons Spend GBP10.45 Billion Per Year Attending Weddings

BRADFORD, England, May 7 /PRNewswire/ -- With the wedding season fast approaching, new research by Santander Cards(1) reveals that the bride and groom aren't the only ones splashing out on the big day, with the average guest spending an astonishing GBP380 in the run up to and during the day, equating to a national spend of GBP10.45 billion.

The biggest outlay that wedding guests face is travel and accommodation (GBP210), followed by a wedding present (GBP131), outfit and accessories for the day (GBP123) and the cost of attending the hen or stag do (GBP114). But incidentals such as other meals and styling come at a price too:

The research showed that a surprising 19 per cent of wedding guests don't buy any wedding presents.

When it comes to funding the cost of attending a wedding, 65 per cent of Britons use their salary, 27 per cent rely on savings and 14 per cent use a credit card. However, four per cent have had to resort to other means of borrowing to fund the expense of being a wedding guest, with three per cent borrowing from family or friends, and one per cent using a personal loan.  

Emma Roberts, Director of Santander Cards, commented: "To avoid suffering a financial hangover long after the wedding festivities have come to an end, those who have put spending on a credit card should make sure they transfer their balance to a 0 per cent deal to manage their money as effectively as possible. The Santander Credit Card, available through branches or over the telephone, offers 0 per cent on balance transfers for 13 months and has no balance transfer fee for any of our existing customers with a mortgage, current account or investment product with us."

According to the research, over a quarter of Britons (26 per cent) have reduced the amount they spend when attending a wedding as a result of the economic climate, compared to 70 per cent who say they have maintained their spending. 

The research also found that Britons spend more than twice as much on a wedding present for a best friend if they have been asked to be the best man/bridesmaid at an average of GBP165, compared to GBP67 when they haven't. The average amount Britons spend on a wedding present for a friend is GBP48, and GBP27 for a colleague.  

The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.

Notes to Editors

1. Opinium Research carried out an online poll of 2,026 British adults from 29th January to 1st February 2010. Results have been weighted to nationally representative criteria.

About Us

Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with presence in 10 main markets. At the end of 2008, Santander was the largest bank in the euro zone by market capitalization and third in the world by profit.

In the UK, Santander operates two retail businesses - Santander, which was formed out of the Abbey and Bradford & Bingley retail network, and Alliance & Leicester. Together they have over 1300 branches, around 4,500 cash machines and they provide a full range of bank accounts (, corporate banking services, loans and savings products to 25 million customers.

Alliance & Leicester will become known as Santander by the end of 2010. 

For more information please visit http://www.santander.co.uk

SOURCE Santander