The talk about the May 19 wedding of Meghan Markle and Prince Harry at St. George’s Church at Windsor Castle has been non-stop. CNN reports the cost of the wedding has been widely discussed, which is estimated to run in the tens of millions, including the projected cost of security.
Yet, it appears that the money to be made on Meghan and Harry’s wide far exceeds the cost of the designer dress, the elaborate flowers, and the exquisite food, which could possibly include a banana wedding cake.
According to Express, the marriage of Prince Harry and the Suits actress is estimated to bring about $670 million dollars into the country.
David Haigh from Brand Finance, consultants that forecast tourism, memorabilia sales, and other related factors, has made many predictions about the monetary cash cow that a royal wedding like this brings–especially as the bride is an American, and the groom is the very popular Prince Harry, the son of the beloved Princess Diana.
Haigh believes that tourism to London alone could generate about $540 million dollars in “hotel bookings” as well as restaurant and pub visits.
He also makes a valid comparison between Kate Middleton and Meghan Markle, predicting that Meghan will be expected to boost British brands.
“Meghan Markle is an accomplished actress in her own right, with a global popularity and a strong personal brand. It can be expected that she will join the Duchess of Cambridge as a great ambassador of the monarchy and British brands in general, especially in her native United States and in Canada where she recently lived.”
Besides tourism, wedding memorabilia, and British fashion brands, Haigh believes that the British media will also benefit from the enormous coverage.
“The celebrations are also likely to boost the value of media coverage for Brand Britain around the world, estimated to be worth £125million [$160 million] this year.”
Not only is England cashing in, but so is the Queen. Already, at Sandringham, the Queen is selling an array of Meghan and Harry collectibles for their upcoming May nuptials.
According to Yahoo Australia, the “gift shop at the Queen’s Sandringham estate in Norfolk has wasted no time in giving the people what they want.”
And what would this be? Collectibles that are in a wide range of prices that include spoons, magnets, mugs, and even plates to collect. This ensures that everyone can get something to always remember the day that Harry married Meghan.
It should not be forgotten that Harry and Meghan have also saved Great Britain a great deal of money.
Just by holding their wedding on a Saturday, Harry and Meghan have saved the country the expense of creating a bank holiday.
Instead of the loyal subjects of the land being granted the day off to watch and celebrate the union between the American actress and British prince, they will instead do this on their own time, costing the country nothing extra in lost work and disruptions.
If this seems like chump change, then think again. According to The Centre for Economics and Business Research who spoke to CNN, the cost of a bank holiday given for a royal wedding is a hefty $3 billion dollars.