2018 Royal Wedding could be worth almost $700 million

2018 Royal Wedding could be worth almost $700 million
Prince Harry and Meghan Markle (Source: wikipedia)

(KPLC) - 2018's royal wedding between Prince Harry and Meghan Markle could be worth almost $700 million for the British economy, according to predictions from  Brand Finance.

Founder and Chief Executive of Brand Finance David High said they estimate about £200 million ($267 million) will come from tourism, travel, hotels, about £150 million ($200 million) will come from people having parties and celebrating, about £100 million ($133 million) will be free advertising for the UK around the world, and £50 million ($66 million) will be people buying t-shirts, hats, mugs and commemorative things to celebrate.

The couple says they chose Windsor, because it was a special place for them, having spent time there regular since they met in July 2016, after being introduced by a mutual friend.

In the town of Windsor, west of London, locals and businesses are hoping for a tourist boom. The Manager of the Harte and Garter, a 98 room hotel opposite the historic castle says they have already been inundated with requests from tourists and media around the wedding.

"It means everything, we are all really excited, both myself, the staff, all the local people of Windsor are really really excited... It's going to be a massive boost to the economy, it's going to be great to see so many people here for the wedding and actually to host the wedding itself."

According to the office for National Statistics, when the Duke and Duchess of Cambridge were married in April 2011, there was an increase of 350,000 visitors to the U.K. compared to the same month, the previous year.

The town's mayor John Lenton says the whole town has been caught up in the excitement.

"It's a great honor. We are delighted that the wedding will be taking place in Windsor, which has been the home for the Monarchy now for 1,000 years and in the oldest continuously occupied castle in the world and the largest of it's kind."

According to Mayor Lenton, Windsor has about 7.5 million tourists a year and he hopes the number will increase.

Harry and his fiancé will marry at the Gothic St. George's Chapel on Saturday, May 19.

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