Not only does the Royal family pay for itself – and provide a very handsome profit of around A350 million just this year to Her Majesty’ s UK government (“Royal Finances: Reform At Last “16/11), but it has now been officially confirmed that the UK profits enormously from the tourism attracted by the monarchy.
The economic benefit of a royal wedding, argues VisitBritain's chief executive, Sandie Dawe, is not to be sniffed at, according to a report from Paola Totaro in The Sydney Morning Herald (20/11)
The economic benefit of a royal wedding, argues VisitBritain's chief executive, Sandie Dawe, will be substantial.
'Their marriage in the spring or summer of 2011 could easily be the biggest broadcast event in history, with predictions that 4 billion people, three-quarters of the potential global TV audience, could watch the event.
''Our research shows that in a typical year Britain's monarchy generates, on the most conservative estimates, well over £500 million [$810 million] a year directly and indirectly from overseas tourists – but the benefit of a royal wedding year is likely to outstrip that.''
The visit to Australia by Prince William produced world wide media attention far beyond the budget of our tourist authority.