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AUSTRALIA has had its say today, and returned a result of 61.6 per cent in favour of legalising same-sex marriage.
The final count saw 7.8 million responses in favour of same-sex marriage, and 4.9 million against.
Those in the wedding industry believe that Australia can now become a hotspot wedding destination for same-sex couples looking to tie the knot in Australia's idyllic locations.
According to the Queensland Department of Tourism, the legalisation of same-sex marriage will result in several key economic benefits.
"If half the population of same-sex couples chose to marry within one year, the benefits to the economy in the first year of the legislation would be over $1 billion,"
Cherelle Murphy & Mandeep Kaura, co-head of Australian Economics & Economic statistician, ANZ.
The resounding 'Yes' response means something extra special for Tara Baker and Arlia Hassell, founders of Dancing With Her.
Baker and Hassell, who were finalists in the 2017 Gold Coast Young Entrepreneur Awards in the Arts & Culture category, have been shaking up the wedding industry with their company.
Dancing With Her have been instrumental in pushing for the recognition of same-sex relationships under the law.
They pride themselves on educating vendors about what it actually means to be inclusive, and consistently shout out that wedding media needs to be more inclusive of all types of relationships.
Since 2016, the couple's social media following has grown to exceed 10,000. Their mini magazine was downloaded in over 25 countries around the world, and the couple have begun to compile an online directory of preferred vendors in Australia and the US.
The five immediate economic benefits of marriage equality according to the ANZ:
- Expenditure on weddings. This could benefit a range of industries including retail trade, hospitality, arts and recreation, professional services (pre-nuptial agreements and divorce).
- Increased service exports due to offshore visitors marrying and honeymooning in Australia.
- The diversion of Australian same sex couples back home that would otherwise have married overseas. This may further boost the industries listed above.
- Increased state government revenue from same-sex marriage license fees and from conducting on-site ceremonies in state run registries of births, deaths and marriages.
- There may also be a small boost to consumer confidence, given the change to marriage equality is a policy supported by the majority of Australians.
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Business News Australia
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