JTG Consulting considers whether the Royal Wedding augurs well for Britain’s economy?

March 18, 2011 - PRLog -- Next month on 29 April 2011, Prince William and Catherine Middleton will finally say ‘yes’ at Westminster Abbey in London. A lot of people worldwide have been eagerly anticipating the Royal Wedding for months. This big event is expected to attract over one million visitors. A record number of people are looking for more information about this special occasion online on a daily basis. Since 2 March 2011 the official Royal Wedding website (www.officialroyalwedding2011.org), hosted by Google, has been online. Between now and the 29 April the site is expected to provide updates to millions if not billions of people. Now Magazine reports that in the first eight hours online the site has already received 200,000 hits.

The Royal Wedding seems to be a bright spot for Britain’s economy. A vast number of tourists are expected to come to Britain’s capital to witness this historic event. Especially the tourism, hospitality and retail sector will benefit through increased sales. Most hotels have been fully booked for months, especially the ones located near Buckingham Palace and Westminster. Visitors who have not booked their flights or accommodation yet, should expect rates above-average. According to the Telegraph, the upcoming event is estimated to boost the local revenues by one billion pounds sterling (http://news.yahoo.com).

While many people are looking forward to the Royal Wedding, there are others who are concerned that the current economic situation might not be able to cope with the accumulated costs such as increased security and police forces during the event. Furthermore, as the Wedding day has been declared as an additional bank holiday this year, Angie Mohr reports that employers, whose policies allow their employees to take a day off on 29 April, will be out-of-pocket by a day’s wages for all of their staff. Besides, most essential service workers including police, fire and ambulance workers will receive overtime pay for working on that day (http://news.yahoo.com). According to the Telegraph, the costs of the Royal Wedding to the economy are estimated at six billion pounds sterling in times of a high unemployment and inflation rate and rising oil prices.

Despite the high costs, the Royal Wedding is impatiently anticipated by hundred thousands of expected visitors. Professor Stephen Lea of Exeter University, who specialises in economic psychology, thinks that many people may choose to increase their discretionary spending as the Royal Wedding sparks a feel-good factor (http://www.bbc.co.uk). JTG Consulting, currently one of the fastest growing promotional sales and marketing companies in London, sees the upcoming occasion as a great opportunity to increase sales and is planning to represent its client in two of the UK’s leading department stores at Oxford Street. Bianca Feiereis at JTG Consulting states: “We are really excited about the event and are expecting a drastic increase in sales due to the high amount of visitors in town over the Wedding weekend. We see the Royal Wedding as a fantastic opportunity to promote our client and be ahead of the competition.”

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JTG Consulting Limited is one of the fastest growing Direct Sales and Marketing companies within the London area. The company specialises in outsourced based customer acquisition for its clients.