Analysts have predicted that the second royal wedding between Prince Harry and Meghan Markle could worth at least £500 Million for the British economy.
Brand Valuation Consultancy, Brand Finance, forecast that the wedding will generate around £500million which is equivalent to USD$668million.
“We think approximately £200 million (USD$267million) will come from tourism, travel, hotels. About £150million (USD$200 million) will come from people spending money having parties and celebrating. About £100million (USD$133million) will be free advertising for the UK around the world and the remaining £50million (USD£66million) will be people buying t-shirts, hats, mugs and commemorative things to celebrate what will be a very popular wedding,” the company’s CEO, David Haigh, told Reuters.
Locals and business owners in Windsor town are hoping for a tourist boom which will be driven by the royal occasion.
The couple had chosen to marry in Windsor, west of London, because it was “a special place for them”, having spent time there regularly since they met in July 2016 after being introduced through a mutual friend.
The Office for National Statistics recalled that the wedding of the Duke and Duchess of Cambridge which took place in April 2011 brought an increase of 350,000 visitors to the UK compared to the same month, the previous year.
John Lenton, Mayor of Windsor has expressed his happiness over the choice of the couple to wed in his town. Since their engagement just over a month ago, Harry and Meghan merchandise has adorned the displays of Windsor’s tourist shops.
Harry and his fiancée will tie the knot on Saturday May 19 in the Gothic St George’s Chapel located in the grounds of Windsor castle.
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