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Gay marriage an economic boon for NYC

Mayor Bloomberg says nuptials have had positive economic impact of $259 million and generated $16 million in city revenues

Gay marriage an economic boon for NYC

Gay marriage has boosted New York City’s economy by $259 million in the past year and generated $16 million in city revenues, according to a study released Tuesday (24 July).

NYC & Company and the City Clerk’s Office report that since the Marriage Equality Act went into effect exactly a year ago, 67 percent of same-sex couples held wedding receptions at restaurants, homes, hotels or catering halls in the five boroughs, with 296,500 guests and 201,600 of them traveling from outside of the City.

New York City Mayor Michael Bloomberg said gay marriage has not only made the city ‘more open, inclusive and free,’ it has also helped to create jobs and support the economy.

‘New York has always been a great place to get married and since the passage of the Marriage Equality Act, we’re welcoming more and more couples, their families and friends from around the country and the world,’ Bloomberg said.

Couples averaged costs of $9,039 for their wedding celebration with 31 percent spending $10,000 or more. Approximately 235,900 hotel room nights were booked, more than 40,000 wedding announcements were printed, and 47,445 wedding favors were purchased.

City Council Speaker Christine C. Quinn added that the marriages ‘will continue to have on our city is a boon for New York and for all those who fought so hard to make equality a reality in New York State.’

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