Brand Finance CEO, David Haigh, comments on the benefits the youngest royal-to-be will bring to British brands and the UK economy as a whole.
“It is a tremendous marketing opportunity for producers and retailers of baby products who can build their promotional campaigns around the good news from Kensington Palace, but the economic impact of the royal children grows with them. Over the years, the youngest Royal Baby will continue to boost the sales of clothes and toys brands they wear or play with. In this sense, they will have a very similar effect on British businesses, as their older siblings and mother, the Duchess of Cambridge, whose Midas touch turns to gold every brand she is seen endorsing, especially in the fashion industry.”
“In addition, the forthcoming birth of the new prince or princess comes with benefits to tourism and Britain’s image abroad, and is already drawing the attention of the world to London. Many visitors who come to the capital for pomp and circumstance hope to see the royal children during their parents’ official engagements. Similarly, when the kids join William and Kate on a visit abroad, like recently in Poland and Germany, they generate incredible interest among the media and the general public.”
In 2015, Brand Finance valued the annual contribution of Princess Charlotte and Prince George to the UK economy at £101 million and £76 million respectively. To estimate what the royal children could bring the UK economy in their lifetimes, assuming they will continue to have the same positive effect as they do today, these contributions were projected into perpetuity and discounted to a net present value of £3.2 billion and £2.4 billion respectively. It is to be expected that Royal Baby No.3 will have a similar effect on British brands and brand Britain, and boost the total economic benefits delivered by the Monarchy today.
In 2016, Brand Finance calculated the overall contribution of the Royal Family to the UK economy in that year to be £1.1 billion. This value projected into perpetuity and together with the Monarchy’s tangible assets (the Crown Estate, the Duchies, the Crown Jewels) amounted to £58.4 billion.
Note to Editors
David Haigh, CEO of Brand Finance, is available for interviews.