Articles

25th April 2011

Although the Royal wedding is expected to cost taxpayers $48 Million it will give London a $177 Million Boost

On April 29, Prince William and his wife-to-be Kate Middleton will be having their lavish royal wedding at London’s Westminster Abbey.  The wedding is estimated to carry a total price tag of over $48 million.

Although this is a huge sum of money, spending by visitors to London will have a “commercial benefit” of 107 million pounds ($177 million), according to a PricewaterhouseCoopers LLP survey.

PwC forecast that 560,000 people will travel to London from other parts of the U.K. and that 550,000 people will head for the Westminster area where the wedding is held, while nearly 1 million people will watch it on big screens.

“Our survey suggests that the wedding will be a great economic boost for London’s economy and a good indicator of the potential economic benefits of the Olympic games when more than 10 times this number of visitors is expected,” PwC economist Mark Ambler said in a statement.

 

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