Royal wedding seen giving $1 billion lift to UK economy

LONDON Wed Nov 17, 2010 7:52am EST

Prince William and his fiancee Kate Middleton (L) pose for a photograph in St. James's Palace, central London November 16, 2010. REUTERS/Suzanne Plunkett

Prince William and his fiancee Kate Middleton (L) pose for a photograph in St. James's Palace, central London November 16, 2010.

Credit: Reuters/Suzanne Plunkett

LONDON (Reuters) - The marriage of Prince William to Kate Middleton next year could give a 620 million pound ($985 million) boost to the British economy, retail researchers Verdict said on Wednesday.

The forecast came as Asda, Britain's second-biggest supermarket group, said it was already selling a 5 pound mug to commemorate the engagement of the heir to the British throne to his long-term girlfriend, announced on Tuesday.

Verdict estimated the engagement could be worth 12-18 million pounds in merchandise sales, while sales of wedding-related products could top 26 million pounds.

The real boost to the economy, however, could come from creating a "feel-good factor" among consumers that proved elusive this year with the England team's dismal performance in the soccer World Cup.

"If, as expected, it is a big set-piece event, it could well capture the nation's imagination and provide a fillip to the retail sector," said Verdict consulting director Neil Saunders.

Verdict forecast food and grocery retailers could benefit to the tune of 360 million pounds as shoppers buy treats like wine and champagne to toast the happy couple, while travel and tourism revenues could be boosted by an estimated 216 million.

(Reporting by Mark Potter; Editing by Dan Lalor)

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Comments (2)
BHOlied wrote:
its like college football, quick make a hoody with their picture on it, maybe some flags for the cars, and a cooler too!

How sad and what a huge waste of money the royal family is. what do they do again?

Nov 17, 2010 1:30pm EST  --  Report as abuse
Sinbad1 wrote:
BHOlied The royal family might cost money but it is a fair cost considering the money generated out of American and other tourists who seem to idolize the royals and the old world pageantry.

So what they do is to relieve gullible Americans of their excess cash.

The Prince has also served in the RAF doing search and rescue.
What have you done for your country BHOlied.

Nov 18, 2010 5:39am EST  --  Report as abuse
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