Business

Prince Harry’s marriage ceremony to Meghan Markle ‘set to spice up UK financial system’

LONDON (Reuters) – Prince Harry’s marriage ceremony to American actress Meghan Markle might present a 500 million pound increase to Britain’s financial system as vacationers flock to the nation and Britons rejoice, in keeping with an estimate.

FILE PHOTO: Britain’s Prince Harry poses with Meghan Markle within the Sunken Garden of Kensington Palace in London, Britain, November 27, 2017. REUTERS/Toby Melville/File Photo

Harry, Queen Elizabeth’s grandson and fifth-in-line to the throne, will tie the knot with Markle on May 19 at Windsor Castle, the royal palace home of British kings and queens for nearly 1,000 years.

According to the Office for National Statistics, the marriage of Harry’s elder brother William to spouse Kate in April 2011 led to a rise of 350,000 guests to the UK in comparison with the identical month the yr earlier than and business valuation consultancy Brand Finance predicted an analogous surge in May.

In complete, it estimates the nuptials will generate some 500 million kilos .

“We think approximately 200 million pounds will come from tourism, travel, hotels,” the company’s chief government David Haigh instructed Reuters.

FILE PHOTO: Meghan Markle arrives at St Mary Magdalene’s church for the Royal Family’s Christmas Day service on the Sandringham property in jap England, Britain, December 25, 2017. REUTERS/Hannah McKay/File Photo

About 150 million kilos can be spent on individuals having events and celebrating with 50 million coming from individuals shopping for T-shirts, hats and different commemorative objects, he stated.

The marriage ceremony would even be value about 100 million kilos in free promoting for Britain across the world, he added.

FILE PHOTO: Britain’s Prince Harry and his fiancee Meghan Markle arrive at an event in Nottingham, December 1, 2017. REUTERS/Eddie Keogh/File Photo

Businesses in Windsor are already gearing as much as make the most of the worldwide curiosity within the couple, with Harry, 33, probably the most common members of the British royal household and Markle, 36, finest recognized for her starring function within the TV authorized drama “Suits”, offering some Hollywood sparkle.

“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,” stated Andrew Lee, supervisor of the Harte and Garter resort reverse Windsor Castle.

British tourism bosses are already predicting 2018 to be a bumper yr for the trade, aided by a fall within the worth of the pound for the reason that 2016 vote to depart the European Union which has attracted guests and deterred Britons from vacationing overseas.

Go toBritain, the nationwide tourism company, estimates that 41.7 million visits from abroad shall be made to the United Kingdom in 2018, producing 26.9 billion kilos within the course of.

Reporting by Jess Omari; writing by Michael Holden; modifying by Stephen Addison

Our Standards:The Thomson Reuters Trust Principles.

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