Gay Marriages Could Boost California Economy By $370 Million By 2012

Los Angeles, CA (AHN) - If 50 percent of California's 92,000 gay couples decide to march down the aisle, the state economy could receive $370 million for the next three years, according to a new study.

That was the estimate of the Williams Institute on Sexual Orientation Law and Public Policy of the UCLA School of Law, which calculated the financial benefit from the recent California Supreme Court ruling.

The state's Supreme Court decision giving gay couples the legal right to marry may also benefit matrimonial service providers like bake shops, restaurants, wedding planners, jewelry stores and even churches.

Gays have higher incomes and are less likely to cut corners on their wedding rites and receptions. According to PlanetOut, gay consumers have 20 percent higher income than heterosexuals and would likely spend 10 percent higher than traditional couples would on their wedding day.

The growing acceptance of same sex unions is not only among those who would benefit financially from their wedding rites. The Field Poll pointed out that the latest survey, which represents a turnaround in public opinion in three decades, said 51 percent of Californians now believe same sex couples have a right to have their union recognized by the state.