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Meghan Markle and Kate Middleton bring millions to the British economy


meghan markle kate middleton
The “Meghan Effect” is
already in full force.

Chris
Jackson/Getty Images


  • Meghan Markle and Prince Harry are set to be married in
    May.
  • Markle and Prince Harry’s wedding will bring an
    estimated $677 million boost to the British economy.
  • Kate Middleton’s fashion icon status contributed an
    estimated $205 million to the economy in 2015.

 

We’re still four months away from the May 19 wedding of
Meghan Markle
and Prince Harry, but the “Meghan Effect” is
already in full force.


Like Kate Middleton before her
,
Markle’s entrée into the royal family is
expected to bring a huge boost to the British economy, this time
to the tune of $677 million (£500 million).

That’s according to an estimation by Brand Finance,
reported by Forbes
, which calculated the expected profits
from a surge in tourism, travel, restaurants, hotels, parties and
celebrations, and the sales of T-shirts, hats, banners, and other
commemorative merchandise related to the royal wedding.

Around the time of the last royal wedding in 2011, the phenomenon
was deemed the “Duchess Effect” or the “Kate Effect”: Anything
worn by Middleton, and now her children, flies off the shelves.
Middleton effectively
became a trendsetter
overnight.

But the royal reverberations continue far beyond the months
surrounding the nuptials.

In 2015, the “Kate Effect” brought more than $205 million (£152
million) to the British economy, while the “Charlotte Effect” and
the “George Effect” translated to over $239 million (£177
million) combined, estimates Brand Finance.


kate and meghan 1
Markle
wore this Diane von Furstenberg dress to a charity gala five
years before Middleton wore it.

Getty
Images Entertainment/Frederick M. Brown/Getty
Images


But Markle, a fixture on red carpets in the US and recently

described as
“a singular mover of product” by the New York
Times, could have even wider influence and fiscal impact than her
future sister-in-law.

The 36-year-old actress led a
surprisingly relatable life
— which included sharing photos
of her friends and family, clothes, and travels on her
now-deleted Instagram and blog — before recently rocketing to
global fame. And Markle’s American citizenship, along with the
few years she spent living in Canada while shooting television
drama “Suits,” could expand her global fan base. Her style is
also
decidedly trendier and less traditional
than Middleton’s.

After Markle and Prince Harry’s engagement was announced, the
couple posed for photos at Kensington Palace in London. She wore
a coat by the Canadian fashion brand Line, a brand beloved by Canadians, but fairly
obscure outside the country. Soon after the brand was identified,
its website
slowed down or crashed for many people
.

All things considered, 2018 is set to be a banner year for the
British royal family as they’re expected to drum up more than
$2.4 billion (£1.8 billion) for the country’s economy,
according to Brand Finance
.


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