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Originally Posted by preciousjeni
I could totally be buying into foolishness, but I feel like I remember a reputable survey that estimated about 4% of the population identifies as LGBT. I assume an even smaller number of these people are going to be getting married.
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Statistics range anywhere from 4% to 11% of the population. I don't know of any conclusive research though, as self-reporting is awkward here.
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How significant could the financial repercussions or windfall really even be? And, why is it a concern?
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If we assume your (worst-case) 4% figure, there are 19 million people in New York, so you're looking at about a million LBGT there. What's the average outlay on a wedding? Google claims something like $25k, and that doesn't include gifts, hotel rooms, liquor sales, flights in/out, etc. It adds up rapidly.
Now consider that you'll have other couples coming in from Florida, Pennsylvania, etc. ... $200MM seems easily reachable, especially if the actual number is closer to 11%.