The United Kingdom’s national identity is tied to its monarchy, which has endured for almost a thousand years. But it turns out that Britain’s economic fortunes may also be at least partly tied to the doings of the House of Windsor.
As Prince William’s wife, the Duchess of Cambridge, prepares to give birth, “royal fever” — an atmosphere of enthusiasm and excitement — is growing among Britons. Royal events typically cause street celebrations in the U.K., boosting local shop sales and driving consumer confidence higher, at least for a bit, the Associated Press notes.
The birth of a new royal and heir to the throne, is expected to be a jubilant moment, both for the Royal Family and for Britain. That excitement comes as the British economy — which edged up just 0.3% in the last quarter — is badly in need of some encouragement.
Prince William made headlines when he married the former Kate Middleton in a lavish 2011 ceremony. The Duchess has been closely watched by Britons for her clothing and style choices, boosting the sales of brands and setting fashion trends.
Happy royal events not only provide psychological support for Britons, but they also drive increases in tourism, a further boost for the economy. And Britain has no shortage of attractions to keep tourists busy.