Economists look at marriage in this context. This is because same-sex marriage, even where permitted, has been introduced only recently. Do we not pay taxes? According to the Queensland Department of Tourism, legislative change on same-sex marriage would result in several key economic benefits for the wedding and tourism industries. Supporting marriage equality can also help businesses avoid boycotts. It turns out that economics does a pretty good job at explaining and predicting patterns in marriage that would otherwise appear irrational.
Allowing for same-sex marriage in Australia would decrease the number of Australians travelling overseas for marriage purposes, therefore reinvesting funds into industries at home. Economy Mar 29, 3: From Ireland to New Zealand, same-sex marriage has been formally recognised in various countries throughout the world. Economics of same-sex weddings: Same-sex couples will be a new source of demand for businesses and this will benefit a wide range of industries. There also is some significant costs , not only in money but in time, in working all of this out. The expenditure on weddings from the introduction of marriage equality legislation would result in a boom to the Australian economy. One more study indicated that same-sex couples experience levels of stability similar to heterosexual couples. Taking into consideration flow-on effects, such as expenditure from international wedding guests and honeymooning expenses, it can be seen that marriage equality would provide significant economic stimulus. Heterosexual and homosexual couples will generate different patterns in terms of what commodities they produce. The latest Census reports the number of same-sex couples has increased to 46, Although a highly political topic, from an economic perspective marriage equality is expected to bring positive benefits, ranging from increased spending in the Australian economy, increased labour productivity to improvements in social and mental health. Same-sex marriage in New York state became legal on July 24, Retrieved 5 May , from https: For example, if same-sex marriage were to produce some negative effects on the rest of the society. Port Douglas Wedding Professionals chair Rob Cooke said every year there were fewer couples committing to marriage in Australia. That figure was extrapolated using data from the Census when there were nearly 34, same-sex couples in Australia. Those fairly obvious fiscal benefits just scratch the surface of what our economy might have to gain. Five ways to count the marriage equality boom. In principle, the same productivity gains could arise from a co-habitation or de facto relationship. Cairns Australia could experience a significant economic boom if same-sex marriage is legalised, say those in the tourism and finance industries. Paul Egan left and Craig Gundersen want to get married in Australia. On the other hand, the fact that governments and employers use marriage to dole out benefits makes some wonder if same-sex marriage equality would come with a price tag for state and federal budgets. As such, Australia would be a more attractive destination for top talents and businesses in support of marriage equality. They want their LGBT employees to be able to focus on their jobs, not on dealing with the stigma and inequality that creates problems for their families.
Video about economic benefits of same sex marriage:
NPR Covers IDC Report on the Economic Benefits of Marriage Equality
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