Royal Baby Promises to Boost England’s Economy
(LONDON) -- England's tourism industry is happily awaiting the soon-to-be royal baby as the Duchess of Cambridge prepares to give birth.
Proceeds from tourism and product sales related to the birth are expected to pump nearly $400 million dollars into the British economy, ABC's Bianna Golodryga reports.
Experts are predicting that $90 million alone will be spent on some three million bottles of champagne purchased to toast the baby's birth.
“It's very important for the economy, because it generates a lot of people coming to this country, particularly from America, that are fascinated with anything to do with the royal family,” said Steve Margo with the Athenaeum Hotel, which is right across the street from Buckingham Palace.
“From a business point of view, the Royal family is one of our best exports,” Margo added.
Margo said that more than two thirds of the Athenaeum Hotel’s guests come from The United States, and he expects a large number of guest this summer are coming specifically because of the royal baby, hoping that they’ll be able get a glance.
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