Prince William's Wedding provided a significant boost to the U.K. economy but can the 5th-in-line for the throne replicate that when he marries Meghan Markle in 2018?

PwC calculated the commercial benefit to London from visitors' expenditure during Prince William's 2011 wedding was £107 million.

- 185,000 people stayed in hotels and 50,000 in B&Bs.

- 25% of visitors spending between £50 and £75 a night on accommodation.

- 20% spent between £100 & £149.

- 36% of visitors budgeted between £75 and £99 per person per day for tourist attractions.

- 20% of people spent £75-£99 on shopping each day.

In the long run, VisitBritain predicted that the 2011 Royal Wedding brought in £2 billion due to the tourism boom.

However, a royal wedding can also negatively impact the U.K. economy. The Confederation of British Industry calculated that the public holiday for the royal wedding cost the U.K. £6 billion in output & revenue losses due to a large number of employees taking time off for the event.

Will Prince Harry's wedding to Meghan Markley have a similar impact?

 

Watch More with TheStreet:

Don't miss the best videos of the week. Put Wall Street on Rewind and sign up for our weekly newsletter.

 

More from Video

Should You Only Buy Closed-End Funds Trading at a Discount?

Should You Only Buy Closed-End Funds Trading at a Discount?

How to Get a Powerful Income Portfolio Boost With Closed-End Funds

How to Get a Powerful Income Portfolio Boost With Closed-End Funds

Everything You Need to Know About Closed-End Funds to Boost Your Portfolio

Everything You Need to Know About Closed-End Funds to Boost Your Portfolio

We Need More Women in The Middle Before They Can Rise to the Top

We Need More Women in The Middle Before They Can Rise to the Top

Market Movers: FOMC Meeting

Market Movers: FOMC Meeting