Experts say royal weddings good for the economy

by Emily DUNBAR on November 17, 2010

The recent news that Prince William will make girlfriend Kate Middleton his bride next year, according to experts, will boost tourism to the UK.

Broadcasters, merchandisers and travel firms will all benefit from the upcoming royal nuptials as the 2011 wedding is shortly followed by the 2012 winter Olympics. During a typical year in Britain, the country’s royalty brings in £500 million of tourist money, said VisitBritain.

A spokesman on the tourism board, Paul Eastham, says the UK’s culture and heritage is a strong appeal for tourists arriving from abroad. He added that at the centre of this appeal is the British monarchy.

In 1981, when Prince Charles married William’s mother Diana, Mr Eastham said that the wedding topped the list of reasons why foreign tourists visited the country. He also adds that people will take great lengths to be in the capital for such an event.

Professor Stephen Lea, an expert in economic philosophy, said that royal weddings certainly could increase economic wellbeing in a country. He said that many Britons are worried about the recession and the current state of the UK economy; however, he said that there are also those individuals that are not worried about the affects of the gloomy financial situation.

According to Professor Lea, a royal wedding could remove some of the nation’s fears and encourage Brits to increase spending of their discretionary money.

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