With Britain, and the rest of the world, still riding high on the announcement that The Duchess of Cambridge (aka Kate Middleton) has given birth, economists are now looking to see just how much the as yet unnamed new HRH will help, or hinder, the economy.
Baby Cambridge is still too young, as of yet, to have any real effect on policy and spending, but he’s already setting the UK economy up for a big boost.
The Center for Retail Research (who knew it even existed?!) is estimating that the little prince’s birth will bring a staggering 243million pounds ($373million) into the British economy.
Just what will all that money be spent on? Here’s their breakdown:
- $93million on alcoholic beverages, including champagne for toasts (they’re estimating that 3million bottles of champagne will be sold!)
- $38million on food for celebrations
- $122million on memorabilia and toys
- $51million (at 13% increase) on stroller sales as women try to “keep up with the Cambridges”
- The remainder includes tourism dollars for people headed to the UK, and companies that have already made a profit off of Baby Cambridge, such as Mothercare – who makes baby onsies.