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Reuters
Reuters
Business
By Gergely Szakacs and Krisztina Fenyo

Hungary's booming wedding market doused by soaring inflation

Szimonetta Parapatics and Dennis Hudi attend their wedding ceremony in Budapest, Hungary, March 25, 2023. REUTERS/Bernadett Szabo

Soaring inflation is taking the steam out of Hungary's wedding market, supercharged in recent years by Prime Minister Viktor Orban's lavish family support measures, with the number of weddings plunging to a nine-year-low at the start of 2023.

Nationalist Orban, in power since 2010, has launched tax breaks, housing support schemes and cheap loans worth some 5% of economic output per year for newly weds to arrest Hungary's demographic decline, while strongly opposing immigration.

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