Sorry buddy, but I can't afford to be your best man

The wedding industry is bouncing back from the recession quite nicely. A March IBISWorld report said, “The amount spent on weddings is estimated to grow during the next five years as the demand for large, costly weddings rises.” According to TheKnot.com and WeddingChannel.com’s 2012 Real Weddings Study, the average wedding budget is $28,427, the highest it’s been since 2008.

These increasingly spendy shindigs may put a squeeze on the bride and groom, but they’re also hitting wedding parties hard. According to a Harris Interactive survey conducted for CouponCabin.com, 9 percent of people asked to be a bridesmaid or a groomsman turned down the request because it was too expensive.

Overall, fewer men than women turn down requests to be in wedding parties, but this trend is reversed among men in the 18- to 34-year-old age bracket. Young men turned down requests to be groomsmen 12 percent of the time, a rate even higher than women in the same age bracket.