This is fascinating! Prince Harry and Meghan Markle’s impending wedding could give a boost of around $677 million to the UK economy, according to a report published by Reuters, as royal fans flock to Windsor from around the world (and as Brits celebrate the occasion, too). Business valuation consultancy Brand Finance estimates that “approximately 200 million pounds (aka $271 million) will come from tourism, travel, and hotels,” according to the company’s chief executive, David Haigh.
By his reckoning, an additional $203 million will be spent on parties to mark the historic occasion, while $68 million could come from themed merchandise (we’re talking t-shirts, hats and, of course, the classic commemorative dishware). England would also get around $136 million worth of free advertising around the world, according to Haigh.
Other figures in the tourism industry agree that the royal wedding will bring an influx of interest. “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,” Andrew Lee, manager of the Harte and Garter hotel opposite Windsor Castle, told Reuters.
Tourist agency VisitBritain, meanwhile, has estimated that 41.7 million visits to the United Kingdom from overseas will be made in 2018, generating major money for the economy in the process. The “royal effect” certainly isn’t a new phenomenon. According to the Office for National Statistics, an additional 350,000 tourists visited the UK in April 2011 for the royal wedding of Prince William and Kate Middleton, in comparison to the same month the previous year.
After confirming their engagement in November 2017, Harry and Meghan announced they will tie the knot on Saturday, May 19 at St George’s Chapel in Windsor Castle. While further details about the ceremony are yet to be announced, it has already been confirmed that proceedings will be broadcast to viewers around the world.
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This post was written by Katie Rosseinsky It originally appeared on our sister site, Grazia Daily.