Royal fans boost tourism in inflation-hit UK

Royal fans poured into ‘s heart London to experience flag-lined streets, flashy processions and above all brave the mile-long trek for the once-in-a-lifetime opportunity to worship Queen Elizabeth II. And while they’re here, they’re packing hotels, restaurants and shops.
Visitors flock to central London from as far away as the US and India at a historic time that is providing an impetus for businesses at a time when the UK economy is facing a cost-of-living crisis. driven by the highest level. inflationary for four decades and predictions of a terrible recession.
“This is history, you know, it happens once in a lifetime,” said Kanakkantt Benedict, who is visiting from India with his wife. “So we became part of it. ”
Hundreds of thousands of people are expected to pay their respects to the queen ahead of her state funeral on Monday, boosting demand for hotel rooms in London that have in some cases doubled prices. . According to Hotelplanner, occupancy could hit an all-time high of 95%. com.
The UK economy is reeling from soaring energy prices fueled by the Ukraine-Russia war, triggering the worst cost-of-living crisis in a generation. Inflation was the highest among the G7 economies, at 9.9%. Therefore, the money spent by tourists offers a glimmer of hope. “Yes, in the short term, the bank holiday is likely to reduce productivity,” said Tim Hentschel, CEO of Hotelplanner. com said. But the “overall motivation from travel over the next few days and months will far outweigh the short-term losses.

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