"They found that over six million adults will take extra holidays to make the most of the confluence of Easter, the bank holidays and the Royal Wedding. However, PwC also calculated that the commercial benefit to London from visitors’ expenditure would amount to about £107 million. A quarter of the visitors to London will spend between £50 and £75 a night on accommodation. One in five will spend between £100 and £149. But over 20, 000 people will spend upwards of £300 a night. It is estimated that 36 percent of visitors budgeting to spend between £75 and £99 per person per day on tourist attractions."
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"While a spokesman for the CBI welcomed the declaration of a bank holiday, the organisation has calculated previously that such breaks cost the economy £6 billion in lost productivity and overtime payments. For some businesses, however, the holiday is expected to bring extra cash through the tills, with the wedding expected to claw back up to £1 billion in extra tourist revenues and sales of memorabilia.
Retailers and publicans predicted that the extra day off would generate revenue from shoppers and drinkers."
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Latest figures show that the number of visitors to the UK dropped by 3 per cent in the three months from April to June, or the second quarter of 2010. And the previous year suffered a 14 per cent fall in visitors during its lowest point between January and March 2009, the ONS said.
As a result, tourist spend on hotels and restaurants among other things fell back from a total of £25,526m in 2008, to £21,787m in 2009.
However, VisitBritain has predicted two bumper years over 2011 and 2012, with the wedding of Prince William and Kate Middleton, the Queen's Diamond Jubilee and London 2012 Olympics creating a "halo effect" for the tourism industry."
"However, the economic impact of the wedding is just the first of several economic booms which Britain will have in the next two years. Reuters reports as much as $1 billion will be pumped into the British economy thanks to the royal wedding.
There are already coins for sale from the Royal Mint for 10 pounds (almost $16) for the cheapest one. Gold proof coins are nearly $2,500. Middleton's blue dress she wore to the engagement announcement sold out in London stores within 24 hours according to CBS News. Replica engagement rings are also for sale. With books, commemorative newspapers and photos there will be money to be had for publishers as well.
In the next three months much of the consumer activity around London will revolve around the royal wedding. As soon as the wedding dress designer is revealed you can bet many summer weddings will have the very same dress as brides want to be a princess this year.
Even the porcelain dinnerware, made in China of course, will be a hot seller. The commemorative set is being made by a high-end dinnerware company which exports products to the United States and Europe. Distributors of Guangxi Sanhuan China will see more sales than ever this year."
"But economists countered it was arguable whether royal weddings brought much benefit to the public purse. Stefan Szymanski, economics professor at London’s Cass business school, said there was little evidence of public events lifting the economy, particularly when no new infrastructure is built.
Sandie Dawe, chief executive of VisitBritain, said the wedding would “be an enormous boost for tourism”. The royals generated £500m in revenues for tourism each year, and she expected this would be beaten in 2011.
Aynsley China of Stoke-on-Trent said it had started making fine bone china pieces to commemorate the occasion, while Royal Crown Derby is preparing items from small trays to a hand-painted peacock.
An Asda spokesman said the supermarket had already purchased a line of “Will ‘n’ Kate” mugs ”because we all love a royal wedding”.
"Anjem Choudary, who says many of the protesters are his “pupils”, stirred up further concerns by saying he had told the group to cancel the protest because of the “high likelihood of an attack” by Muslims on the wedding parade.
He advised all Muslims to stay away from central London, the buses and the Tube, adding: “The security implications of a large gathering means there is always potential for an operation.”"
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