The Queen is not only a figurehead, but she is also a symbol of continuity and stability to many in the United Kingdom. The Queen’s Diamond Jubilee celebrations marked 60 years since her coronation as Britain’s longest-reigning monarch and was expected to bring in an estimated £10 billion boost to the British economy.
In this blog post, we examine the three main ways in which this happened…
1. The Jubilee Will Be A Catalyst For Economic Growth
One example of how the Jubilee is expected to become a catalyst for economic growth is through tourism.
Tourism has been one of the fastest-growing sectors in recent years, and it will see continued growth as people from around the world visit areas where they can celebrate this important occasion with locals who live there.
The Jubilee – and the bank holiday that came along with it – will also encourage both tourists and citizens alike to go to London and experience what it’s like to go shopping at local stores and restaurants.
2. Attracting Foreign Investment
The Queen’s Platinum Jubilee is also expected to attract foreign investment to the UK stock market.
This is because it might mean that investors may see the increased attention being paid to the celebrations as a signal that there are opportunities for growth in other areas of the country’s economy.
Investors may choose to invest in companies that provide services or products for those celebrating Great Britain during this time.
3. Consumer Confidence
Consumer confidence can be defined as the extent to which people are willing to spend money and make purchases.
The Jubilee is expected to drive up demand for British products and services via concerts, parades and other public gatherings. The increased demand will lead to an increase in prices, which will increase profits for businesses. This can translate into more valuable British stocks.
Timescales for any other these benefits to manifest themselves will vary.
But from new visitors to celebrating royalists, the jubilee could mark a positive note on the UK economy for a variety of reasons.