British officials are optimistic that King Charles III’s coronation will help boost tourism, which is still reeling from coronavirus shutdowns.
The United Kingdom had roughly 29.7 million visits last year, nearly a third fewer than in 2019.
“Events like this really kick-start the recovery, don’t they? And they put Britain on the world stage again,” chief executive of the VisitBritain tourism board Patricia Yates said.
The coronation is attracting fans of the Royal Family intrigued by the ceremonial spectacle of the monarchy and British history.
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Tour companies, shops and restaurants are looking to capitalize on the event. The weekend of events, which begins May 6, will bring money to central London businesses, especially hotels, pubs and restaurants. However, U.K. residents will still struggle with a high cost of living and an economy on the edge of recession.
Visitors can be treated by hotels across London that are offering coronation-themed packages, menus and decor.
For £12,995, which is more than $16,000, tourists can enjoy an overnight stay in the Royal Suite at the five-star Hotel Cafe Royal and a limo ride to the Tower of London for a private tour and viewing of the Crown Jewels.
The Dorchester Hotel, a favorite with royals and celebrities, crafted a lavish, five-tier coronation cake and placed theater-style draping across its facade to re-create the decorations that it used to mark Queen Elizabeth II’s 1953 coronation.
The Royal Lancaster Hotel located near Hyde Park is serving afternoon tea inspired by Charles’ favorites of roast beef sandwiches, darjeeling tea and damson plum mousse.
The meal consists of a darjeeling tea cakes shaped like a crown on top of a crimson cushion. The hotel bar will serve a coronation cocktail, which is a martini with a little bit of darjeeling tea, trimmed with gold leaf.
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Souvenirs are plentiful for the event as well, including tea towels, socks, dessert plates and other paraphernalia with coronation insignia from the Royal Collection Trust, purveyor of official memorabilia.
Queen Elizabeth II’s Platinum Jubilee celebrations last year raked in an extra 2.6 million visitors to London, according to Yates.
She said history, heritage and the royals are the biggest attractions for international tourists. She also said royal pageantry is a particular appeal for Americans, who are driving the U.K.’s tourism recovery.
“We can see a 10% increase in flight bookings through May from the America market,” Yates said. “The big question mark is, of course, China, which was our second-most-valuable market and still not coming back quite in the numbers we would like to see.”
But it is unclear how the coronation will impact Britain’s economy overall.
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Tax revenue will receive a boost from extra retail spending for parties nationwide, including booze sales carrying alcohol duties.
Organizing the coronation, however, brings a huge cost, and an extra public holiday on May 8 means a lost day of productivity.
The British economy has essentially been stagnant since the start of 2022 as the region grapples with decades-high inflation.
According to Brand Finance, the monarchy boosts the U.K. economy to about £500 million a year, or $624 million, which is more than the estimated £350 million, or $437 million, it costs taxpayers.
The Associated Press contributed to this report.
