· Brand Finance estimates the capital value of the UK Monarchy as a business at £67.5bn
· Monarchy’s annual contribution to the UK economy in 2017 is £1.766bn
· Annual cost per head is less than £4.50 a year, equal to just over 1p a day
As the Queen and Duke of Edinburgh celebrate their Platinum Wedding Anniversary, leading brand and business valuation consultancy Brand Finance has estimated the total worth of the UK Monarchy. Growing every year since the inception of the study in 2012, the value of the British Monarchy now amounts to approximately £67.5 billion.
The Monarchy’s tangible assets – the Crown Estate, the Duchies of Lancaster and Cornwall, and the Royal Collection, including the Crown Jewels – account for £25.5 billion. The intangible value, understood as the present value of the benefits that the Monarchy is expected to bring the UK economy over the years, constitutes the remaining £42 billion.
Brand Finance estimates that in 2017 the Monarchy generated a gross uplift of £1.766 billion to the UK economy. The contribution includes the Crown Estate’s surplus as well as the Monarchy’s indirect effect on various industries. The respect for the institution boosts the price and volume premium of brands boasting a Royal Warrant or a Coat of Arms; the appeal of pomp and circumstance set in living royal residences draws millions of tourists; the mystique surrounding the Monarchy adds to the popularity of shows like The Crown and Victoria that offer a glimpse of the private lives of the Royal Family.
The economic benefits generated by the Monarchy come at a very low cost to the British nation, equal to only £4.50 per person per year or just over 1p a day. The total costs of the Monarchy, totalling approximately £292 million, include the Sovereign Grant, earnings from the Duchies of Lancaster and Cornwall ceded to the Queen and the Prince of Wales, and security expenses, among others. A significant proportion of these costs is in fact incurred by residence maintenance, staff salaries, and travel expenditures required by any head of state.
David Haigh, CEO of Brand Finance, commented:
“Exactly 25 years ago, the Windsor Castle fire marked the nadir of the Queen’s annus horribilis when scandals drove the Monarchy’s popularity down. Today, its universal appeal translates to the attraction of Brand Monarchy offering considerable commercial benefits to all businesses and institutions associated with it.”
“The Monarchy is Britain’s national treasure, both symbolically and economically. Especially in the age of Brexit, Britain can rely on royal diplomacy to facilitate trade relations with the Commonwealth and the rest of the world.”
Note to Editors
For full findings, expert insights, and methodology, please consult the Brand Finance Monarchy 2017 report.
If you would like to learn more about the report’s findings first-hand, join our launch event at the City of London's Brand Exchange on the 20th of November at 6pm for 6.30pm. Speakers include David Haigh, CEO of Brand Finance; Clive Cheesman, Richmond Herald at the College of Arms; Ben Marson, Director of Partnerships at The Prince's Trust; and Professor Qing Wang, Professor of Marketing and Innovation at the University of Warwick.