The nuptials of Prince Harry and Meghan Markle were one hell of an expensive event. We’re just not sure how expensive. A former member of the British special forces told CBS Ewdding»For the security forces it really is a massive headache and a lot of planning, and time, effort, and cost to prepare for. If Harry and Meghan spent about the same on security, that brings the cost down to a more conservative willl of. The rest of the budget was for more uplifting, but still crazy expensive, reasons. Bridebook’s estimates for the wedding, which took place May 19 at Windsor Castle, include:. So, who foots the bill? To this day, society has not advanced past the antiquated tradition that the bride’s family pays for the wedding, which is bullshit. But Markle how much money will the royal wedding make did not pay for everything, though she reportedly covered the cost of her wedding dress. Kensington Palace announced other «core» wedding costs were covered by the royal family and their vast bank accounts.
Huge revenue coming to Great Britain
Audiences across the world watching Meghan Markle marry Prince Harry on Saturday are expecting romance and pageantry, including diamond-studded tiaras and foot-long dress trains. But such memorable opulence doesn’t come cheap. While the average U. With guests attending both the lunch and dinner receptions, plus 2, guests from the public who will be provided with tea and a hot snack on the grounds of Windsor Castle, Dunne expects the food and beverage to amount to a quarter of the total budget. While the prince and soon-to-be duchess don’t have to pay to rent out St. George’s Chapel or the Great Hall, there are rumors that the royals are building a glass marquee for the reception. That’s standard for royal weddings. It is rumored that Harry will wear something more » low-key. Markle is also expected to change her outfit in the evening. Kate Middleton, the Duchess of Cambridge, wore an ivory satin gown with a diamante belt and matching bolero after her reception, reports The New York Times. Given the size and scale of the wedding, hiring a team of florists to decorate Windsor Castle will be costly. I don’t think it’s going to be overly kind of glam and wasteful in terms of what they spend,» says Dunne, «but even in that case Other considerable expenses include entertainment. George’s Chapel, including the Choir of St. George’s Chapel, and a selection of choral groups, soloists and musicians,» Kensington Palace announced. As for the couple’s wedding rings, the bands are reportedly made out of their Welsh gold, reports Bridebook, and there is a chance that Prince Harry follows in his brother William’s footsteps and doesn’t wear one at all. Markle’s engagement ring was designed by Harry himself using a central diamond from Botswana and two flanking diamonds that belonged to his late mother, Diana, Princess of Wales. Finally, the cost of logistics can add up, says Dunne, especially for a high-profile wedding where many preparations are made under wraps. The royal family announced that it will pay for the «core aspects of the wedding,» which include the «church service, the associated music, flowers, decorations and the reception afterwards. That’s why the campaign group Republic, which calls for abolishing the monarchy , garnered over 30, signatures for a petition calling on the government to disclose how much taxpayer money will be spent on the wedding. Others argue that, considering the attention and tourism that the royal wedding attracts, the event will pay for itself. In any case, she believes the ceremony is worth its price tag. Like this story?
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An award-winning team of journalists, designers, and videographers who tell brand stories through Fast Company’s distinctive lens. Leaders who are shaping the future of business in creative ways. New workplaces, new food sources, new medicine—even an entirely new economic system. While some might scoff at the idea of a multi-million-dollar wedding, royal festivities pay off in the end. Royal fandom impacts a slew of industries, including tourism, fashion, entertainment, and of course, ceramic memorabilia. QueensSpeech ChristmasDay It includes a collection of U. Prince Harry and Ms. Meghan Markle meet sisters Irene and June, who welcomed them to Birmingham this morning.
Food and beverage: $680,000
And that will be borne by the public purse. Yet the wedding might also attract additional tourists from abroad, whose expenditure will help defray some of those public costs.
Some have even claimed that sales of memorabilia will boost the overall economy. Which leaves us with the perennial questions: How much money do we spend on the British monarchy? How much of an asset is it to the economy? This replaced the old Civil List and grants-in-aid from government departments in and is supposed to be reviewed every five years. The Queen, Prince Charles and other members of the Royal Family have private incomes too from their private landed estates and financial assets.
The Queen has voluntarily paid income and capital gains tax since on her private income and the revenues not used to finance her official work.
Prince Charles has also voluntarily paid income tax on his income from another landed estate, the Duchy of Cornwall, since This income also covers the costs of the official duties of Camilla, William and Kate and Harry.
VisitBritain reckons that tourism linked to royal residences such as Buckingham Palace and Windsor Castle adds up to 2. Viewed from that perspective, the additional royal-related revenues start to look somewhat trivial. Moreover, we should treat even estimates of economic activity linked to the royals with a large dash of scepticism. Would the monarchy be less of a tourist draw if the likes of lesser working royals such as Princess Alexandra and the Duchess of Kent were no longer funded by the Sovereign Grant?
The economic boost from visits and festivities related to royal celebrations should certainly be treated with caution given these can displace economic activity as well as create it.
Royalists might make the historic argument that the monarchy brings political stability to the UK, which has a high value to the economy. But, again, this is difficult to put a price on. Especially when the appropriate counterfactual is not anarchy, but a stable republic like France or Germany. In the end, the question of whether the Royal Family is worth it, or not, is probably less a financial question than a political, moral and aesthetic one.
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Subscription offers. Independent Premium app. Daily Edition app. Chris Blackhurst. Hamish McRae. UK Edition. US Edition. Log in using your social network account. Please enter a valid password. Keep me logged in. Want an ad-free experience? Subscribe to Independent Premium. View offers. How much does the Royal Family cost the taxpayer? However, this does not include the security costs of looking after the family. So the royals spend that money how they want?
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Royal wedding: Harry and Meghan head to private party — BBC News
Some of the Queen’s money comes from the Sovereign Grant
Five figures is a huge expense for a one-day affair. That is, unless you’re ultra-rich — and especially if you’re royalty rich. Next month, the world will bear witness to the most anticipated hw wedding in years. George’s Chapel, in Windsor, and will begin a carriage procession wiill after the ceremony. Their reception will take place later on the grounds of Windsor Castle. Kensington Palace will cover the cost of the wedding, an expense traditionally taken on by the bride’s family. The case was the same for Kate Middleton and Prince William’s royal wedding — the only item Middleton paid for was her six-figure Alexander McQueen dress.