Thursday, September 27, 2018

How Did The Royal Wedding Affect The Economy

If history repeats itself the royal wedding will fall flat in terms of economics. The royal wedding will bring a huge boost to the economy.

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Despite the uncertainty the amount of global media coverage that britain is receiving from the royal wedding is expected to have a positive impact on uk tourism over the coming years.

How did the royal wedding affect the economy. Economy according to consulting firm brand finance. Online travel agent opodo reports a 33 percent rise in travellers flying. However this will likely be short lived as it does not affect the economic fundamentals facing households.

Its been estimated that the royal wedding will boost the british economy by 500 million as tourists descend on the country to celebrate and it looks as if the numbers are already tallying up. Theres been a huge rise in travellers flying to london that weekend. Add this to the fact that the cost of harry and meghans wedding is likely to be considerably less than the 10 million plus spent on that of william and kate and next years royal wedding could well create a small lift for the uk economy overall.

Royal wedding to boost british economy by 1 billion royal wedding to boost british economy by 1 billion the wedding of prince harry to meghan markle will benefit the british economy by over 1 billion spread across several different industry sectors according to the analysis by brand finance the worlds leading independent brand valuation and strategy consultancy. It should be kept in mind that some of the retail spending may just be switched from spending on other items. That depends on how the money and resources are being spent on the wedding and on the state of the wider economy.

The couples big day is likely to provide a boost of 105 billion pounds or 143 billion to the uk. Its a favorite tabloid newspaper headline. In recent years the uk has been plagued by uncertainties surrounding the eurozone crisis brexit and terrorist attacks.

If all the resources in the economy are already working at capacity the extra. As its at the weekend archer added he doesnt expect there to be a productivity drop as a result of us all crowding round our tv screens or rushing off to street parties. Like kate middleton before her markles entree into the royal family is expected to bring a huge boost to the british economy this time to the tune of 14 billion 1 billion.

For that occasion the uk was granted an additional public holiday which came a few days after easter and just before the may day bank holiday. Church bells will do their thing on saturday in honor of prince harry and meghan markle and the royal wedding already has got cash registers ringing in the uk. Past royal weddings have had little impact on the economy or even held back growth as was the case with prince william and kate middletons wedding in april 2011.

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