Kate Middleton royal baby to bring 50 million to UK economy
GETTY The new royal baby is predicted to bring £50million to the UK economy
Independent strategy consultancy, Brand Finance believes British businesses could benefit from the new arrival. David Haigh, chief executive of Brand Finance, said: “The birth of the new prince is also a tremendous marketing opportunity for British producers and retailers of baby products who can reference the royal baby in their promotional campaigns." Chains that sell baby clothes and items are expecting to receive a boost with baby clothing chain JoJo Maman Bebe aware of the boost a royal baby can bring. Laura Tenison, managing director of JoJo Maman Bebe, said: “The Royal Family and any news about them are a massive boost.
"During HRH's pregnancy with Princess Charlotte she wore our already named Cream Princess coat - it sold out instantly. This pregnancy she wore it again." She also believes the buzz a new royal baby brings with it, never fully disappears. Ms Tenison said: “The Royal Family is the first topic of conversation in America, where we are currently opening JoJo stores. "The effect lasts… in a discreet way it will always be there." Mothercare saw an increase in sales of its Heritage new-born clothing collection following the birth of Prince George and Princess Charlotte.
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But Philip Shaw, chief economist at Investec, an international specialist banking and asset management group believes the broader UK economy will not benefit that much from the latest member of the Royal Family. Mr Shaw said: “Historically, a new royal baby tends not to have a material effect on the economy. And a major boost seems even more unlikely this time, bearing in mind how many households are strapped for cash.” He admit that that the arrival of the newborn baby yesterday along with Prince Harry and Meghan Markle's royal wedding on May 19 will keep the Royal Family in the spotlight and encourage tourism to the UK. Mr Shaw said: “This flurry of royal activity should continue to encourage tourism into the UK.
GETTY The baby that could bring £50 million to the UK's economy
"So flights into the country, restaurant spending and accommodation, whether by professional suppliers or by the local AirBnB brigade, could all get a boost.” Mr Haigh added the estimated £50million the royal baby will add to the economy is significantly smaller than the arrival of Prince George and Princess Charlotte. Prince George was said to bring in £75million and Princess Charlotte £100million. Mr Haigh said: “The third royal birth is - understandably - attracting less attention than the first two, and is additionally somewhat overshadowed by the upcoming wedding of Prince Harry and Meghan Markle.”