In an attempt to stimulate ailing birth rates and combat the pressures of aging populations on their economies, many countries offer fiscal incentives for marriage. Here are three countries which offer benefits to those who tie the knot:
1. Japan
Japan has to face a decline in population and marriage rate; that’s why the Japanese government took an initiative to help newly married couples with the newlywed support program. According to this program, as much as 600,000 yen ($5,700) in assistance covers the rent and other living costs in municipalities which joined the program. It saves newlyweds from economic burdens and encourages the growth of families.
2. Hungary
One of the most comprehensive financial programs to incentivize marriage and increase birth rate has been offered in Hungary. Couples that marry before the bride reaches age 41 can receive subsidized loans up to 10 million forints (around $33,000). If three children are born to that couple, they don’t have to repay that loan. This policy is both a marriage and a pro-natalist program designed to increase population.
3. South Korea
The country is in the process of experiencing one of the lowest marriage rates in the world. As a result, the government of the country has already launched a pilot program with married couples being offered financial incentives ranging from $64,000 to $85,000. The program will be extended in 2025 to include international nationals residing or working in South Korea, provided it proves to be a successful initiative. This incentive reverses the downward trend of marriage in a country where societal pressures and financial burdens have made marriage less attractive.
Applying this logic, these countries are making bold moves in enticing people into marriage to counter the demographic crises they are facing. For singles looking forward to settling down, these financial incentives give them more drive to say, “I do.”
