Queen Elizabeth II is now the longest-reigning monarch in the United Kingdom’s history. But how much is Her Majesty worth to the British economy?
As it turns out, billions of pounds. According to brand consultancy Brand Finance, the Royal Family is set to make a net contribution of £1.15 billion (around $1.77 billion) to the U.K. economy. The institution itself is valued at around £57 billion ($87 billion), providing some fascinating evidence that the monarchy brings more benefit than burden to the British people.
“The principle of whether monarchy is an appropriate and fair form of government in the 21st century certainly remains open to question. However, Brand Finance’s research shows that from an economic standpoint at least, the royalists firmly have the upper hand,” Brand Finance Chief Executive David Haigh said in a statement.
We break down the benefits of the monarchy in the chart below, showing that the Queen brings in the most dough from waving at eager, photo-happy tourists:
There are several “Effects” that have contributed to the Royal Family’s economic power. The most essential of these factors is the “Kate Effect,” or the “uplift to fashion and other brands worn, used or otherwise endorsed” by Kate Middleton, the Duchess of Cambridge whose fashion choices have prompted a consumer frenzy. Prince George and Princess Charlotte are the offspring of Kate and Prince William, and their brand endorsements have contributed its fair share to the British coffers.
There are costs, however, to the privilege of saying “long live the Queen.”
This includes the “Sovereign Grant,” which is the amount of money provided by the government to the monarchy. Other high costs are dedicated to the security detail around the Royal Family and the lost of income attributed to the country’s two royal, Game of Thrones-sounding private estates, the Duchy of Cornwall and the Duchy of Lancaster.