King’s Coronation to boost UK economy by £1.5 B by record 3 million tourists
The upcoming Coronation is expected to deliver a massive economic windfall for the UK, with a record-breaking 3 million international tourists expected to visit the country for the historic event.
Exclusive data analysis by Generation Money, the UK’s leading financial news platform, reveals that the Coronation will inject an estimated £1.5 billion into the economy.
Alex King, founder of Generation Money, on the impact of the King’s Coronation on the UK economy:
“The King’s Coronation is set to provide a substantial boost to the UK economy, with an estimated £1.5 billion generated from the record-breaking influx of 3 million international tourists. This unprecedented interest, particularly from countries like Brazil, highlights the global appeal of the event and the UK’s enduring allure as a top tourist destination.
We expect to see a domino effect on businesses across various sectors, including hospitality, retail, and transportation, as they capitalise on this unique opportunity. The Coronation’s economic impact serves as a timely reminder of the resilience and potential for growth in the UK’s economy, reinforcing its position as a global leader and a hub for cultural, historical, and economic significance.”
In an unexpected twist, Google Search data analyzed by Generation Money reveals that Brazil has the highest level of interest in the King’s Coronation. Over the past month, search queries related to the event have spiked by 249% in Brazil, making it the top country seeking to witness the royal milestone. This trend underlines the global appeal of the Coronation and its potential to further enhance the UK’s standing on the international stage.
Alex King continued: “As we emerge from the challenges of the past few years, it is more important than ever to leverage the global appeal of our unique events and showcase the UK as a vibrant, dynamic, and welcoming destination.
“Investing in tourism infrastructure, promoting sustainable practices, and capitalising on the worldwide interest in our iconic events will help ensure the long-term health and growth of our economy.”
Expats are celebrating around the world
According to British Corner Shop, the online grocery store serving British expats around the world, customers in the USA are buying the most Coronation specific products.
Hannah Ward, Brand Manager at British Corner Shop said: “The Coronation is a global event and a celebration of the UK’s heritage. British Corner Shop’s expat customer base is embracing this by buying goods to ensure they can mark the occasion wherever they are in the world. As a result, we are seeing a significant uplift in the sales of commemorative products in key markets such as the USA.”
With over 6,000 products from Britain’s most loved high street brands, British Corner Shop recently secured investment from private investor, Rcapital.
