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M.V. Lee Badgett, research director at the Williams Institute on Sexual Orientation Law and Public Policy at the UCLA School of Law, estimates that gay weddings could add $370 million to the state economy over the next three years, the Los Angeles Times reported.
Wedding planners, bakers, florists, caterers and hotels have already noticed an uptick in business since the California Supreme Court's May 15 decision to overturn a state ban on same-sex marriage.
The estimate is based on the assumption that about half of California's 92,000 same-sex couples will get married and that those couples will each spend approximately $8,040 on their weddings.
The $370 million figure is a rough estimate since no one can accurately predict how many same-sex couples will actually tie the knot nor how much they will spend on their weddings.
The figure could be smaller, since the Supreme Court ruling could be nullified. State officials Monday verified that there are sufficient petition signatures for a proposed Nov. 4 ballot initiative that would amend the state constitution to ban same-sex marriage.
If the Supreme Court does not stay its ruling, California counties can begin issuing marriage licenses to same-sex couples beginning June 17. (The Advocate)
