Prince Harry and Meghan Markle’s Wedding Had This Bonkers Effect on the UK’s Economy
Meghan Markle recently called Prince Harry the “best husband ever” and she’s not the only one who appreciates the fact that he’s now a married man. Retailers, restaurateurs, and other businesses have reportedly reaped the benefits of the pair’s May wedding.
The Duke and Duchess of Sussex — along with warm weather — helped sales climb a full 1.3 percent from April, according to Bloomberg. While it might not seem like much, that’s almost three times the median estimated 0.5 percent growth that’s typical. Of course, this information hardly comes as a surprise; even before the wedding, UK finance firms were forecasting a $1.4 billion economic boost from the Royal Wedding.
In addition to the over 29 million viewers, in the US alone, who tuned in to watch the live broadcast of the Queen’s grandson and the former Suits actress’ lavish wedding ceremony, well-wishers from all over the world traveled to England to help celebrate the pair’s nuptials. Besides shelling out on travel to the UK, fans of the Royals also scooped up wedding-related items like party favors, shortbread cookies, commemorative china, and Prince Harry and Meghan Markle dolls (which sparked a minor controversy due to their questionable looks).
The wedding also helped to pump money into the economy thanks to the sheer amount of cash spent on the ceremony and accompanying receptions, themselves. It’s safe to guess that no expense was spared on flourishes like the bride’s stunning gown, designed by Clare Waight Keller for Givenchy; Markle’s second dress, designed for the reception, by Stella McCartney; a Swiss meringue buttercream cake that featured 150 fresh peonies and roses; plus a mouth-watering menu for 600 guests.
Markle also commissioned special gifts for six of her best friends, 14K gold disc bracelets, aptly deemed The Kensington which cost $450 each.
Prior to the big day, London-based luxury wedding planner Aimee Dunne estimated that Harry and Meghan’s wedding would cost “somewhere between £1.5-£2 million GBP” (about $2.8 million), according to Cosmopolitan. However, The Wedding Shop by Shutterfly’s Style Partner Mindy Weiss guessed that the cost would be “approximately $10,000,000.” Bride Book went even higher, giving an approximate £32 million ($45.8 million) cost.
This is still less than the $34 million reported cost for Prince William and Kate Middleton’s wedding back in 2011. The royal family paid around $2 million while the rest was funded by British taxes.
Did you spend money on anything related to the royal wedding? Let us know @BritandCo!
(Photos by Jonathan Brady-WPA Pool+ Chris Jackson/Getty Images)