omniture

SweetRing: Recently Launched Consumption Tax Increases Economic Burden for Malaysian Wedding Consumers

- 50% of respondents to a poll taken in Malaysia said that they would limit spending on their wedding to 20,000 ringgits (USD 4,500)
SweetRing
2017-04-25 13:40 1744

KUALA LUMPUR, Malaysia, April 25, 2017 /PRNewswire/ -- Is the Goods and Services Tax (GST) recently rolled out on April 1 too much of a burden for the average Malaysian? Perhaps we can answer that question from a recent survey done by SweetRing, a global dating app, that finds out how much Malaysians are willing to spend on their weddings.

High cost of living leads nearly half of Malaysians surveyed to say they would limit wedding costs to 20,000 ringgits (USD 4,500)

According to the poll that SweetRing took of its membership, nearly 50 per cent of the Malaysian respondents said that they would like to limit the spend to 20,000 ringgits (approx. USD 4,500), while less than 10 per cent indicated that they would like to spend 40,000 ringgits (approx. USD 9,000) or more and go for a luxury affair.

Alex, a 30-year-old SweetRing member, said, "I need to work harder and bring in more money so I can afford the GST on whatever we buy, let alone the cost of a wedding."

In addition, male and female respondents had different opinions when it came to the financial "requirements" for marriage. Fifty per cent of the male respondents stated that a man should only consider marriage if he has the financial means, with 60 per cent among those who gave that answer being more specific, explaining that he should be earning at least 4,000 ringgits (approx. USD 880) before tying the knot. In comparison, 50 per cent of the female respondents said that they would like to see their potential mate bring home 6,000 ringgits (approx. USD 1,320) before saying "yes" to any proposals, so that the couple can expect to maintain a certain quality of life after getting married.

Cindy, a 29-year-old SweetRing member, responded, "It is important to take into consideration the financial condition of the person you will marry. Otherwise, it would be better to hold off on getting married until you find the right person, so as to avoid the financial issues that can damage the marriage."

More about SweetRing can be found at https://www.sweetring.com

Source: SweetRing
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