The Queen Made $100 Million Last Year From Tourism — But This Year She’s Expected to Lose Big
It is a well-known fact that Queen Elizabeth has all the money she could ever possibly need. After all, there are several sources of income for the royal family, and money has never been a problem for any of them.
However, the world is currently experiencing some difficult times, and just about everyone is feeling the financial effects. Job losses are at an all-time high, and many people are relying on government assistance to get through the current coronavirus pandemic. Even the royal family members are dealing with the effects of the coronavirus — we are all well aware that Prince Charles himself tested positive for the virus.
Tourism has always been a huge money-maker for Queen Elizabeth. People come from all over the world to explore London and visit royal palaces every year, and it has been a popular travel destination for as long as anyone can remember. Last year, Queen Elizabeth made an unimaginable $100 million dollars from tourism — but this year, she is expected to lose big.
The British royal family
There are times when the British royal family can be a bit confusing, so let’s break it down a little. All the family members are descendants of Queen Elizabeth, whether they be sons, daughters, grandchildren, nieces, nephews, cousins, or otherwise.
Senior royals are those who officially carry out royal duties on her behalf, such as Prince William and Catherine, Duchess of Cambridge or Prince Charles and his wife, Camilla, Duchess of York.
This is not to say that other royals are never seen. Some of them may hold regular jobs, but we still see them at the occasional event, and some of them, such as Princesses Beatrice and Eugenie, are entitled to the status of “his or her royal highness.”
Then there are those who are in the direct line of succession, meaning that they are more or less guaranteed to become king or queen. As of now, those people are Prince Charles, Prince William, and Prince George. They have a unique way of generating income.
How the royal family makes money
Many people may not give it a second thought, but there are still others who wonder just how the royal family, especially those who hold typical jobs, make money. This is where it can get a bit complicated. According to CNN, Queen Elizabeth makes her money from quite a few sources.
She gets a portion of the income from the government as well as her estates, and she allocates some of that to other royal family members. She receives money from the Sovereign Grant, the Duchy of Lancaster as well as her personal investments.
Not all of these funds go into her own bank account, however. Some money is used to cover the cost of security, royal staff, travel, not to mention the expensive upkeep of royal palaces.
The queen made $100 million last year from tourism
So, where does the queen get a large portion of her money? It actually comes from tourism, which is huge in London. The queen made $100 million dollars last year from tourism, so why is it expected that she will lose money this year? According to Tatler, the current coronavirus pandemic is severely restricting travel, therefore affecting the royal finances. It is estimated that her majesty may lose up to $18 million dollars in income from tourism in the current year, due to the country being on lockdown, social distancing guidelines, and the fact that people are advised to stay home whenever possible. We only hope that this pandemic ends quickly, and everything can get back to normal.