Prince Harry at the wedding for Meghan Markle can have the bells ringing, but it won’t keep the united KINGDOM, the boxes of sound, according to some economists.
All of the economic benefits to the UK economy from the wedding night will be “limited”, says the EY ITEM Club.
He predicted that tourist and retail businesses are most likely to take advantage of the opportunity the next weekend.
A Saturday ceremony means fewer workers can be distracted on the job, the start of the productivity largely unchanged.
Howard Archer, chief economic advisor to the EY ITEM Club, said that it would be “beware of over-egging the potential impact, or who are looking to put a hard figure on the potential gains”.
“We suspect that there will be a very limited, temporary boost to the economy in some sectors, especially retail trade, tourism, and, eventually, restaurants and cafes.”
However, the economist has also suggested that some of celebrate the royal wedding will simply be put in prior to spending in shops, pubs and supermarkets or switch to spending on other positions.
“The retail sector will benefit people who buy royal wedding souvenirs, such as plates, cups and magazines.”
(C) British Broadcasting Corporation
Glad the British held celebratory street parties would also temporarily boost the retail trade and the hotel trade, the economist has suggested, as the food and drink sales would take place.
“The Pubs should also have the advantage is that they have been allowed to stay open longer. However, it should be borne in mind that some of the retail spending may just be expenses on other items,” Mr. Archer said.
However, the British Retail Consortium has hit more than the celebration of tonality, the anticipation of the day can provide a similar economic rise as the wedding of the Duke and Duchess of Cambridge in 2011.
Rachel Lund, head of retail insight at the BRC, said the combination of the royal wedding next to a FA Cup final is likely to be positive for retailers in the united KINGDOM.
“Clothing and footwear has been a big winner for the wedding of the Duke and Duchess of Cambridge, setting a record for growth this month, as people have sought to reproduce the style of the newest addition to the royal family,” she said.
“With the country in the mood to celebrate the event, food and beverage, sales were also exceptional. We expect to see a similar trend about May 19.”