Royal fans give London tourism a strong bump
LONDON
Royal fans have poured into the heart of London to experience the flag-lined roads, pomp-filled processions and, above all, brave a mileslong line for the once-in-a-lifetime chance to bid adieu to Queen Elizabeth II.
And while they’re here, they’re packing hotels, restaurants and shops.
Visitors crowding into central London from as far away as the U.S. and India for the historic moment are giving a boost to businesses at a time when the British economy is facing a cost-of-living crisis fueled by the highest inflation in four decades and predictions of a looming recession.
“This is the history, you know, this happens once in the lifetime,’’ said Kanakkantt Benedict, who was visiting from India with his wife and filed past the queen’s flag-draped coffin this week. “So we became a part of it.”
Occupancy levels could reach an all-time high of 95 percent, according to London-based group-booking platform Hotelplanner.com.
All 35 rooms at the two-star Corbigoe Hotel in London’s Victoria neighborhood, near Buckingham Palace, were booked, duty manager Riaz Badar said.
On the Thames, the Riverside Cafe that’s next to the mileslong, round-the-clock line for people to get a glimpse of the queen’s coffin, has been “extremely busy,” manager Zab Istanik said. He’s been opening two hours earlier than normal, at 7 a.m.
Also on the route, Jason Rich’s food stall, Fed By Plants, was doing brisk business selling lentil burgers.
“It’s a long queue,” Rich said. “So definitely it had a good boost on the business.”
The U.K. was already an attractive place to visit as demand rebounds for international travel since the COVID-19 pandemic and the weakened pound, especially for American visitors, makes transatlantic travel more affordable.
The British economy is reeling from rising energy prices spurred by Russia’s war in Ukraine, driving the worst cost-of-living crisis in a generation.
The government said it will cap energy bills for households and businesses, but prices are still painfully high. Inflation is the highest in the Group of Seven economies, at 9.9 percent.
With that backdrop, the money being spent by visitors offered a glimmer of hope.
“Speaking to our hospitality sector, not just our hotels, but restaurants, bars and pubs, they’ve had an awful three years because of this pandemic,” London Mayor Sadiq Khan said.
Some analysts predicted the overall economic boost for the U.K. from the royal mourning period would be limited. That’s because it would be offset by supermarkets, retailers, hardware stores and other businesses closing for the funeral today, which has been made a public holiday.
However, renewed interest in the royal family could give an extended boost to the travel and tourism industry, said Tim Hentschel, co-founder and CEO of Hotelplanner.com.
“Yes, short term, the bank holiday will probably cut down productivity a little bit,” Hentschel said. But “the overall momentum that the U.K. is going to gain from all the tourism that’s going to flock here over the next few days and then over the next few months will far outweigh” the short-term loss.
