Friday, 29 April 2011
A Right Royal Moneyspinner
Forums of the world are buzzing with talk of the Royal Wedding. The event has gone live to almost every country in the World (except Belarus apparently..) and the extensive coverage has been worthy of such a significant event. The now married couple are beaming radiantly, as are the families on both sides of the matrimony. Seemingly a great ceremonial event.
But the real wins from the Wedding come in the form of showcasing British Business and efficiency. It has been a shining example of what we can achieve as a Nation and as Boris Johnson explained during a BBC interview on the day, the Wedding will be a good test of the UK in terms of infrastructure and capability in advance of our Olympic challenge next year. All in all I think we have demonstrated that the nation is a force to be reckoned with.
On a different note and as many of the commentators have eluded, it has been a great day for British Fashion after the revelation of Manchester born Sarah Burton as the designer of Catherine's dress. This combined with the veritable catwalk of other outfits modelled by various dignitaries has provided an unparalleled opportunity to broadcast our clothing lines and world-class designers.
Likewise the market for Kate and Will memorabilia has been booming since its release in January of this year. Everything from chocolate coffee dusters in the face of the couple, to "knit your own wedding" kits have been flying off the shelves. A great revenue stream for the retailers and eventually many of the items will become collectables worth inordinate amounts to Royal collectors, so everyone is a winner! (Particularly purchasers of 'Crown Jewels: Condoms of Distinction')
London's pubs, hotels, restaurants and clubs will be clawing in Millions of pounds of revenue over this weekend and the general hubbub across the nation has also encouraged more liberal consumer spending due to the glut of recent Bank Holidays and general holiday feeling.
So all in all a great day where Great Britain has gone some way to affirming its grandiose title. It is not all black on the balance sheet however. Small Business owners have been shuffling uncomfortably at the prospect of staff cobbling together an 11 day holiday with but 3 days leave. There are predictions that loss of earnings could rack into the Billions, and that's not to mention the cost of the wedding alone (£50 Million + according to some estimates)
I have no doubt there is much debate surrounding whether the Wedding was "value for money", these will be framed in the scene of wider questioning of the Royal Family as an institution. Personally however, I think the return on investment for our most recent of Royal Extravagances would be rather admirable.
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