A 'blessed event' for Britain's finances
Analysts estimate the royal birth will bring a $400 million boost to the UK's struggling economy.
Updated July 22, 2013
The wait is finally over. The former Kate Middleton has given birth to a boy who may end up as Britain's future king.
The new royal baby is third in line to the throne, behind his father and his grandfather.
And while the world is sending the new bundle and his family congratulations, the British economy is gearing up for a financial windfall.
The country's Centre for Retail Research is estimating the royal birth could bring a happy baby bounce of nearly $400 million to the struggling British economy.
"This is a good-news story, and there really is no downside," Joshua Bamfield, the Centre's director, told Reuters. Interest is high "across the Atlantic as well," he added, "as the younger royals are very well thought of in the United States, so we are expecting good sales of souvenirs."
Loyal Britons are expected to celebrate the royal birth with parties, festivities, souvenirs (must have that commemorative mug, china bowl and tea towel, after all), toys, books, children's clothing, DVDs and a variety of other media.
Along with the boost in retail spending, the impending arrival is helping tourism. Reuters reported a 13% rise in overseas arrivals to Britain in April.
Another big factor, Bamfield said, will be what he calls "unintentional royal brand endorsement."
"The 'Kate effect' has already taken the fashion world by storm," he told Reuters, noting how the Duchess of Cambridge, the former Kate Middleton and wife of Prince William, has become a style trendsetter. "And this trend will follow for the infant's baby gowns, rattles, first bike and so on."
The baby's great-grandmother, Queen Elizabeth II, was the first to get the news about the birth, USA Today reports. The royal family sent out an electronic press release first announcing the news, and then a framed announcement was posted at the gates of Buckingham Palace.
I am truly ELATED at the birth of William and Kate's baby boy. How happy they must be!!!
People can do what they want to with their own money. I see people buying lottery tickets who look
like they would be better off spending the money on essentials llke food and clothing. But then it's their money to spend as they desire. Congratulations to the Royal Couple on the arrival of their firstborn son. Long lIve the British Monarchy. Wish we had some class in Washington.
well, proves the royals still serve some tangible purpose.
poor charles was passed over entirely.
the smiths wrote 'the queen is dead' back in 1983...and she's still on the thrown!
talk about a long run.
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