The British royal family is worth £44.5 billion and brings in £26.4 billion to the UK economy, a new study has found.
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The total value assessed by consultancy firm Brand Finance included £18.1billion of assets, such as the Crown Jewels, the art in the Royal Collection, palaces and the Crown Estate and £4 billion for the Royal Warrant system.
The royal family are also said to bring in £500 million a year in tourism, which was said to be worth £16 billion as an “intangible asset in perpetuity”.
The total intangible income generated by the royals was calculated at £34billion but was offset by costs of £7.6 billion, including £3 billion on security.
David Haigh, CEO of Brand Finance, commenting on the latest findings stated: “The monarchy is one of the most valuable of all British brands.
“Whatever one thinks about the constitutional principle, there seems little doubt that the institution of monarchy adds significant annual earnings and long-term economic value to the UK.”
Despite the “intangible” nature of their report, Brand Finance didn’t put a figure on how much the royal heritage industry would still be worth even if the monarchy was abolished.
For instance, crowds still flock to Versailles although France has been monarchy-free for over 200 years.
Queen Elizabeth’s Diamond Jubilee celebrations next month are likely to bring in “significant” economic benefits to the country, despite the provision for an extra public holiday, which will cost an estimated £1.2 billion, adds the report.
