After Brexit and Covid, a global spot for Great Britain. And the final parade was self-financed for 17 million euros. Haigh (Brand Finance): In extraordinary years with a Royal wedding or a Jubilee, the contribution of the crown to the economy doubles
Long live the queen, and the Jubilee business entrusted to an economy weakened by Brexit, pandemic and inflation. The British, people of shopkeepers, Napoleon said. But talented. In normal times, the economic benefit that Windsor, ceremonies and palaces bring to the economy exceeds £ 2 billion a year. But in extraordinary years like this, the contribution of the real “firm” doubles: 3.5 billion pounds (over 4 billion euros), with security costs weighing half a billion, he explains to Courier David Haigh who has been in the City since 2012 dealing with real finances with Brand Finance’s Monarchy report. The crowds of these days prove it.
The monarchy is a driving force that brings benefits in various directions: there is tourism, 1.2 billion pounds of stimulus linked to the Jubilee for the Great Britain brand: a free planetary maxi spot, the show closed by the queen yesterday was followed by 1 billion people. Then the benefits to trade in British products, with a facelift for holders of Royal warrants, says Haigh. They are the suppliers of the royal house whose coat of arms is polished at each Jubilee.
Aid to the leisure economy, from restaurants to bars (UKHospitality estimates + 22%, 400 million pounds), the most penalized by Covid, extraordinary. Of course, the Jubilee was a long weekend with two days of celebration, two days less than GDP, about 1-1.5 billion pounds for two, at the end of the year. Even if the new dynamics of work, often from home today, will make them weigh less.
The cost of the Windsors? stable, with the Sovereign grant (once Civil list) of the queen for 2021-22 which is worth 86 million pounds: a cost of just over 1 pound per taxpayer. To which are added the 28 million allocated for the Jubilee by the government (but the parade is self-financed: 50% with sponsors and 50% with private individuals).
And when will the relay pass to Carlo? Respect for the figure will be confirmed of the sovereign, but the charm of the brand will be less seductive. Not in London, but in the Commonwealth, says the expert.
Will William and Kate launch their own brands like Harry and Meghan? When Charles is king, William will inherit the Duchy of Cornwall and hand over the management of Duchy Originals, the natural product line of Charles. Then I think William and Kate have already filed their own brand, but they are in no hurry to launch it, and it will be philanthropic: there are too many Crown commercializations in the spotlight.