Royal Wedding II estimated to generate £500 million for British economy

Record ID: 944990

  • Title: Royal Wedding II estimated to generate £500 million for British economy
  • Date: 3rd January 2018
  • Summary: PERSON OUTSIDE SOUVENIR SHOP WINDSOR POSTCARD VARIOUS OF ENTRANCE OF "THE HARTE AND GARTER HOTEL" (SOUNDBITE) (English) ANDREW LEE, MANAGER, HARTE AND GARTER HOTEL WINDSOR, SAYING: "It means everything, we are all really excited, both myself, the staff, all the local people of Windsor are really, really excited. So we are all looking forward to it. 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. " VARIOUS OF PEOPLE ON HIGH STREET VARIOUS OF WINDSOR CASTLE SOUNDBITE (English) COUNCILLOR JOHN LENTON, MAYOR OF WINDSOR AND MAIDENHEAD, SAYING: "It's a great honour, we are delighted that the wedding will be taking place in Windsor, which has been the home for the Monarchy now for 1000 years and in the oldest continuously occupied castle in the world and the largest of its kind. And the whole population of course is extremely interested and excited by the prospect. We are looking forward to it and we hope it will help to improve our tourist trades. We have 7.5 million tourists a year in Windsor anyway. We hope the number will increase and our biggest source of tourists of course is America." VARIOUS OF TOURISTS OUTSIDE CASTLE VARIOUS OF UNION JACK FLAG BUNTING HANGING IN STREET WITH CASTLE IN BACKGROUND
  • Embargoed: 17th January 2018 08:13
  • Keywords: Royals Wedding Prince Harry Meghan Markle Britain Economy Windsor Tourism
  • Location: NOTTINGHAM, LONDON AND WINDSOR, ENGLAND, UNITED KINGDOM
  • City: NOTTINGHAM, LONDON AND WINDSOR, ENGLAND, UNITED KINGDOM
  • Country: United Kingdom
  • Topics: Arts / Culture / Entertainment,Royals
  • Reuters ID: LVA0067WK2IX3
  • Aspect Ratio: 16:9
  • Story Text: Analysts predict that 2018's royal wedding between Prince Harry and Meghan Markle could be worth at least £500 Million for the British economy.
    Harry and his fiancée will marry on Saturday May 19 in Windsor castle.
    Brand Valuation Consultancy, Brand Finance, forecast that the wedding will generate around £500 million (USD$668 million).
    "We think approximately £200 million (USD$267 million) will come from tourism, travel, hotels. About £150 million (USD$200 million) will come from people spending money having parties and celebrating. About £100 million (USD$133 million) will be free advertising for the UK around the world and the remaining £50 million (USD$66 million) 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.
    In the picturesque town of Windsor, locals and businesses are hoping for a tourist boom driven by the royal occasion.
    The couple said they 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.
    According to the Office for National Statistics, when the wedding of the Duke and Duchess of Cambridge took place in April 2011 there was an increase of 350,000 visitors to the UK compared to same month, the previous year.
    The Harte and Garter, a 98-room hotel, is located opposite the historic castle. The hotel's management says they have already been inundated with requests from tourists and media around the wedding.
    "All the local people of Windsor are really really excited. So we are all looking forward to it. 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," said Andrew Lee, the hotel's manager.
    Since their engagement just over a month ago, Harry and Meghan merchandise has adorned the displays of Windsor's tourist shops.
    The town's mayor John Lenton said he's delighted that the couple have chosen to wed there and that the whole town have been caught up in the excitement.
    "We are looking forward to it and we hope it will help to improve our tourist trades. We have 7.5 million tourists a year in Windsor anyway. We hope the number will increase."
    The couple will marry in the Gothic St George's Chapel is located in the grounds of Windsor Castle, which has been the family home of British kings and queens for almost 1,000 years.
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