How much money does the royal family bring in to the UK?

The royals bring in a lot of revenue to the British economy via tourism (Picture: Matt Dunham/AP)

The Royal Family is synonymous with Britain. When a tourist thinks of a visit to the UK, they are surely thinking of making stops at several royal tourist destinations.

We all know that UK taxpayers contribute to the Crown via the Sovereign Grant. However, the Royal Household brings in plenty of cash of its own to boost the British economy.

Every year, the Royal Family is thought to generate millions of pounds for the country, mainly through tourism but also through other methods.

Here’s a look at how the royals bring money into the UK.

How much tourism money does the royal family bring into the UK?

Ticket and souvenir sales at royal destinations generate significant income for the economy (Picture :NEIL HALL/ EPA)

The House of Windsor is estimated to be worth £19bn, according to Forbes.

With both Windsor Castle and Frogmore House receiving a huge number of paying visitors every year – an adult ticket costs £26.50 from Sunday to Friday – it’s thought that these royal buildings help bring in hundreds of million pounds into the British economy.

Other royal tourist spots like the Buckingham Palace, the Royal Mews, Clarence House, the Palace of Holyroodhouse, and the Queen’s Gallery also bring in significant revenue.

Besides income from ticket sales, these various landmarks also sell souvenirs, trinkets, hampers and publishing that tourists love to buy.

What are some other ways the Royal Family makes money?

The Royal Family also generates tourism revenue through the Royal Collection – which includes the contents of 13 royal residences and former residences across the UK – and the Crown’s estate.

According to the 2019-20 annual report, a record 3,285,000 people visited the official residences, generating approximately £49,859,000.

Gift shop sales of the royal collection also contribute significantly to the yearly income of the country.

The Crown estate includes various properties around the UK such as Regent Street in London, Windsor Great Park and Ascot Racecourse as well as agricultural land and forest, and more than half of Britain’s foreshore.

MORE : Where are the current Royal residences around the UK?

MORE : Which Royal Family members have HRH titles and which don’t? What the coveted title means

Follow Metro across our social channels, on Facebook, Twitter and Instagram

Share your views in the comments below

from News – Metro https://ift.tt/nqwkmLA