Heritage

Prince Harry and Meghan Markle's Wedding Will Reportedly Boost the U.K. Economy by $680 Million

Tourism will be one of the biggest contributing factors.
IMAGE GETTY
Comments

A royal wedding equals big bucks for the U.K. Prince Harry and Meghan Markle's nuptials will help bring in around $680 million (500 million pounds) to Great Britain, according to an estimate provided by Reuters.

The report, made by business valuation consultancy Brand Finance, credits the number of tourists expected to enter the country for the ceremony on May 19 as one of the main reasons for the increase in revenue.

“We think approximately 200 million pounds will come from tourism, travel, hotels,” Brand Finance's chief executive David Haigh told Reuters. That amount translates to over $270 million.

He also expects that 150 million pounds ($202 million) will be spent on parties and 50 million ($68 million) will come from purchases of commemorative merchandise like t-shirts, hats, and other souvenirs. The wedding would also give England over 100 million pounds ($135 million) in free advertising around the world, he added.


ADVERTISEMENT - CONTINUE READING BELOW

Andrew Lee, manager of the Harte and Garter hotel opposite Windsor Castle, agreed with Haigh that tourism will be one of the biggest contributing factors. "It’s going to be a massive boost for the economy, it’s going to be great to see so many people here for the wedding and actually to host the wedding itself,” he said.

VisitBritain, the national tourism agency, estimated that 41.7 million tourists are expected to visit the U.K. throughout 2018. Around 350,000 people visited the U.K. for 2011 Prince William and Kate's wedding, and the Office of National Statistics reported a similar surge is expected for Harry and Meghan's big day.

From: Harper's BAZAAR US

*This story originally appeared on Townandcountrymag.com
*Minor edits have been made by the Townandcountry.ph editors

<>
Comments
View More Articles About:
Recommended Videos
About The Author
Eileen Reslen
View Other Articles From Eileen Reslen
Comments
Latest Stories
 
Share
You can’t miss out on one of the country’s longest-running trade fairs.
 
Share
A screening of The Sorcerer's Stone was accompanied by live music courtesy of the ABS-CBN Philharmonic Orchestra and conducted by Gerard Salonga.
 
Share
Airbnb is giving two superfans a chance to live like the Crawleys-royal treatment and all.
 
Share
From presents for your own parents to the perfect gifts for new moms and dads.
 
Share
Here’s a look at her debut collection, plus what else to expect from the designer’s eponymous brand.
 
Share
From magical slippers to sophisticated stilettos, a look at the shoes that have kept the fashion world enthralled and in step.
 
Share
The world of gin is so much more than juniper.
 
Share
Lopez already knows who's going to walk her down the aisle.
Load More Articles
CONNECT WITH US