TORONTO/OTTAWA- Prince Harry and Meghan’s upcoming move where they split time between Canada and Britain is expected to boost the Canada brand globally which will boost their tourism. According to marketing consultants, the effect will be very limited though.
British Royalty is a big business around the world. The monarchy contributes about 1.77 billion pounds to the country’s economy. This comes from intangible assets- this includes uplift given to brands using royal warrants, landmark tourism and goodwill ambassador service impact on trade.
The potential Canadian economic boost is dependent on how the royals relate to their new home. If the couple begins cherishing Canadian brands and identity, aspects relation to Canadian economy will see a boost as well.
A broader impact is negligible, especially considering that the couple chooses to keep away from the spotlight.
The couple wants to step away from their royal duties to stay away from the public eye, so expecting a big merchandising or tourism boost in Canada is not the best step.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.
