Prince Harry’s marriage to American actor Megan Markle is expected to boost the British economy by £ 500 million as it attracts many tourists to the country, while the British themselves will contribute to boosting their economy as they are going to celebrate it from appreciation.
Harry, Queen Elizabeth’s grandson and fifth in the succession of the British throne, will marry Markle on May 19th at the Windsor Castle, the royal palace and residence of British kings and queens for almost 1,000 years.
According to the National Statistics Service, the marriage of Prince William, Harry’s elder brother, to Kate Middleton in April 2011, led to an increase of 350,000 visitors to the United Kingdom over the same month a year ago, and the consultancy firm Brand Finance is forecasting a similar increase for next May.
Overall, Harry’s marriage will earn about £ 500 million.
“We believe that nearly £ 200 million will come from tourism, travel, hotels,” said David Haye, executive director of Reuters.
Almost £ 150 million will be spent by those who will party to celebrate the event and about 50 million of consumers who buy t-shirts, hats and other souvenirs, according to him. In addition, almost £ 100 million is estimated to cost free wedding advertising for Britain on a global scale, he added.
“It will massively boost the economy, it will be fantastic to have so many people here for the marriage,” said Andrew Lee, director of the Harte and Garter Hotel across from the Windsor Castle.
The head of the tourism sector in the country already predicts that in 2018 it will be a very successful year for industry, which will also contribute to the drop in sterling since the 2016 EU exit referendum, which has attracted tourists while it has prevent British from traveling abroad.
The National Tourism Organization of the country, VisitBritain, estimates that in 2018, about 41.7 million people will visit the United Kingdom and this will cost 26.9 billion pounds.