‘HarryMarkle wedding to boost Britain’s economy by £500 million’

Prince Harry’s wedding to American actress Meghan Markle could provide a £500 million boost to Britain’s economy as tourists flock to the country and Britons celebrate, according to an estimate.

Harry, Queen Elizabeth’s grandson and fifth-in-line to the throne, will tie the knot with Markle on May 19 at Windsor Castle, the royal palace home of British kings and queens for almost 1,000 years. According to the Office for National Statistics, the wedding of Harry’s elder brother William to wife Kate in April 2011 led to an increase of 350,000 visitors to the UK compared to the same month the year before and business valuation consultancy Brand Finance predicted a similar surge in May.

In total, it estimates the nuptials will generate some £500 million ($680 million). “We think approximately £200 million will come from tourism, travel, hotels,” said David Haigh, the company’s chief executive.

About £150 million would be spent on people having parties and celebrating with £50 million coming from people buying T-shirts, hats and other commemorative items, he said.

Businesses in Windsor are already gearing up to take advantage of the global interest in the couple, with Harry, 33, one of the most popular members of the royal family and Markle, 36, known for her starring role in the TV drama “Suits”, providing Hollywood sparkle. REUTERS

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