Getting married abroad, the cost of overseas weddings
You may be considering exchanging vows on a beach at sunset, or want to have the excitement of getting married in a major foreign city— whatever your choice for an overseas wedding, there are a few things to consider for your bank balance before you step on the plane and tie the knot.
What are the costs involved with getting married abroad?
Your budget might play a part in dictating your destination—for those with more to spend, you may want to look at France, Italy, or Greece. SN Travel, cited in a guide to overseas weddings by MoneyTransfers.com, has suggested the cost of getting married in France is around £26,000, Italy is approximately £25,000, and those heading to Greece could expect to pay around £23,000. Slightly cheaper European destinations include Spain at roughly £20,000 and Portugal at £19,000.
For those dreaming of the white sand beaches of the Caribbean, the most expensive destinations include Jamaica and Barbados at approximately £16,000, while the Dominican Republic and St Lucia follow at around £15,000. Antigua comes in at the most cost-effective at roughly £13,500.
Other warm destinations you might consider that can be cost-effective include Bali and Thailand at around £15,000, Fiji, Cooks Island, or Seychelles at £14,000, Zanzibar, and the Maldives at £13,000, and Mauritius and Sri Lanka at around £12,000.
Making the most of your international transfers
If you're getting married abroad, you'll likely need to move money overseas to cover the cost. It's important that you research and compare your providers carefully. For instance, the rate of exchange a bank may give you could be significantly less than the rate of exchange a specialist currency provider like Global Reach, as recommended by MoneyTransfers.com, could offer. For example, a bank may provide you with a rate of 1.08 on a £25,000 transfer of Pounds into Euros, which could give you around €27,000. However, another provider such as a currency specialist may be able to offer you a rate in the region of 1.12, which could see you receive around €28,000. That means in this example, you’d have an extra €1,000 to cover honeymoon costs, last-minute wedding expenses, or just as extra money to keep in the bank for a rainy day. MoneyTransfers.com
If you'd like to talk to a currency specialist who can help you make the most of your international money transfers, call to speak to one of our experienced experts on +44 (0)20 7989 0000.