Royal Family Contribution To UK Tourism

The royal palaces are a huge source of money for UK tourism, and their popularity has only grown over time (except during the pandemic, obviously). According to Statista, revenue from royal estate ticket sales increased in the fiscal year 2019-20 over the previous year.

Entrance revenue was £49.9 million ($84.8 million) in 2019-20, up from £48.4 million ($82.3 million) in the previous fiscal year. This is a massive increase over the last decade, with the royal estate earning £23.3 million ($39.6 million) in the 2009-10 fiscal year, less than half of what it will earn in 2019-20.

However, this is merely a portion of the royal family’s contribution. In a year, royal collection gift store sales totaled £19.98 million ($33.95 million). These tourist attractions sell souvenirs, trinkets, hampers, and other royal-themed things.

The House of Windsor is valued at £19 billion and generates hundreds of millions of pounds for the British economy each year, with Frogmore House and Windsor Castle selling around 426,000 tickets between April 2021 and March 2022. An adult ticket costs £26.50 ($AU45) from Sunday to Friday.

Regent Street in London, Windsor Great Park, and Ascot Racecourse are all part of the Crown Estate. It also owns more than half of the UK’s coastline and around 1,960,000 acres of agricultural and woodland property.

The average annual cost of royal upkeep in the United Kingdom is roughly £500 million, but Brand Finance believes that the monarchy provides £2.5 billion to the British economy over the same period. Buckingham Palace has been the residence of the United Kingdom’s sovereigns since 1837 and is currently the governing monarch’s administrative headquarters.