The royal wedding of Prince Harry and Meghan Markle may be over, but that doesn’t mean the newly christened Duke and Duchess of Sussex are going to fade into the background. These relentlessly popular royal lovebirds are almost guaranteed to stay the focus of media attention just like Prince William and Kate Middleton.
That royal fascination comes with an unexpected bonus for British citizens. Read on to discover why Meghan Markle could be worth a hefty sum to the British economy.
They call it the “Meghan Effect”
Anything that Meghan is seen wearing instantly becomes a huge success.
Back in 2011, they dubbed this same phenomenon the, “Duchess Effect” or the “Kate Effect.” It refers to how anything the royal family members are seen wearing or using instantly becomes a huge success, which in turn gives a boost to the British economy.
Next: This is how much Meghan Markle can stimulate the economy.
Meghan Markle’s explosive popularity is worth billions
The new duchess will be worth about $1 billion to the British economy.
British firm Brand Finance estimates that Meghan Markle’s popularity will be worth about $1 billion, which will come from profits in the tourism, travel, restaurants, hotels, parties, and commemorative merchandise. The company originally estimated a value of about half that much but doubled their projections based on the unexpected popularity of the couple.
If they have kids, it’ll mean more economic stimulation
Markle’s economic impact could skyrocket if she and Prince Harry have children.
The “Kate Effect” brought more than $205 million to the British economy. But when she gave birth, that number went up dramatically. The “Charlotte Effect” and the “George Effect” translated to more than $239 million combined.
If Prince Harry and Meghan Markle opt to have offspring, they’ll increase the economic boost even more. After all, who wouldn’t want to copy those adorable little outfits for their own kids?
Kate Middleton’s impact
Prince William and Duchess Kate
The “Duchess Effect” and the “Charlotte and George Effects” were no laughing matter. Kate’s status as a trendsetter was able to bring in over $205 million to the British economy. Her children were able to contribute another $239 million themselves. But Markle is in a class of her own.
Meghan Markle has a huge fan base already
Markle already has a built-in fan base.
Part of the reason Meghan Markle is worth more to the British economy than Kate Middleton is that unlike Kate, she came with a built-in fan base. While Kate rose to the ranks of celebrity from relative obscurity, Meghan was a famous Hollywood actress with active (now deleted) social media accounts.
Even people who aren’t royal family fans may follow the Duchess of Sussex just because they liked her before she married Prince Harry.
Harry helps too
Meghan Markle and Prince Harry
While Markle herself spurs most of the economic boost, Harry contributes in his own way. Richard Haigh of Brand Finance explains, “…Prince Harry is the lovable rogue who everyone has deemed to be the ultimate bachelor, and now he’s getting married, and I think that is a big thing in itself.” Between Markle and Harry, the charisma and star power is immense.
Her style is trendier than her sister-in-law, Kate Middleton
Markle has a trendier style than her new sister-in-law.
The New York Times called Meghan Markle, “a singular mover of product.” It seems like everything she wears sells out in hours, which is a huge reason that she’s predicted to be such a huge boon for the British economy.
Kate Middleton has an impeccable way of dressing. But there’s something about Meghan Markle’s sense of fashion that’s trendier, more accessible, and easier to slot into everyday life that makes her clothing choices more popular than her sister-in-law’s.
People love Meghan Markle because she’s relatable
Many people relate to Meghan Markle.
There are several reasons Meghan Markle seems more down-to-Earth and accessible compared to Kate Middleton. She’s divorced, biracial, and has a blended, unorthodox family. She reminds many people of themselves, which is part of what’s making her so popular around the world.
Americans are helping to spur the economic boost
Americans are obsessed with Meghan Markle.
For some reason, Americans are more obsessed with British royalty than residents of the U.K. With Meghan Markle, the first American to marry into the royal family since 1937, that fascination reaches a fever pitch. Americans purchasing all the British designers and products that Markle is photographed wearing is helping to boost their economy.
The proof of this economic boost is already apparent
Her engagement coat sold out almost instantly.
Don’t believe she’s worth $1 billion? There’s proof. The coat Meghan Markle wore for her engagement photo shoot with the prince was made by an obscure Canadian fashion brand called Line. As soon as the coat’s origin was identified, anxious shoppers managed to crash the site. Mere hours after their wedding, guests were already standing to profit from their royal wedding gift bags, which were being listed for thousands of dollars on eBay.
Meanwhile, the wedding industry is sure to experience plenty of copycats in the coming months as prospective brides try to recreate a royal wedding experience of their own.
Source: The Cheat Sheet
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