Marriage loans suggested as a way to save Turkish wedding industry
TESK chair Bendevi Palandöken said that he wants banks to offer marriage loans in an attempt to allow young couples to marry despite the financial challenges of the pandemic, and to boost the industry. The wedding industry brings in about 20 billion Turkish Liras annually, but experts have low revenue projections for this year, he noted.
Duvar English
Turkey's wedding industry has been struggling to stay afloat amid the COVID-19 pandemic, and Turkey's Tradesmen and Artisans Confederation (TESK) recommended that banks offer marriage loans, the daily BirGün reported on March 29.
Even though Ankara lifted wedding bans for a while over the summer, many couples have opted against large ceremonies as a precaution, leaving the industry stark, TESK chair Bendevi Palandöken said.
"The wedding industry brings in about 20 billion Turkish Liras annually, but we have a low revenue projection for this year," Palandöken noted.
The government should support couples who have to cancel wedding plans because of unemployment or low funds, the chairman said.
"Zero-interest loans should be given to couples with a six-month delay in payments," Palandöken said. "Spending by marrying couples affect 415 different areas of business."
However, the pandemic may not be the only reason behind the dip in the number of nuptials in Turkey, as the number of weddings in Turkey has been consistently decreasing over the past decade.
Data from the Turkish Statistical Institute (TÜİK) revealed that the number of nuptials in 2020 was the lowest in the past decade, which was a 19 percent drop from 2015, and a 10 percent decrease from 2019.