The $1 Billion Reason Meghan Markle May Be Even More Popular Than Kate Middleton
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”
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
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.
Next: This could increase the royal couple’s value even more.
If they have kids, it’ll mean more economic stimulation
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?
Next: How does Kate stack up?
Kate Middleton’s impact
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.
Next: The one thing Meghan Markle had that Kate Middleton didn’t.
Meghan Markle has a huge fan base already
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.
Next: Hubby lends a hand
Harry helps too
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.
Next: This is why Meghan Markle has more copycats.
Her style is trendier than her sister-in-law, Kate Middleton
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.
Next: People especially adore this aspect of Meghan Markle.
People love Meghan Markle because she’s relatable
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.
Next: There’s another source for the economic effect.
Americans are helping to spur the economic boost
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.
Next: There are indicators that it’s already happening.
The proof of this economic boost is already apparent
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.
Additional reporting by John Wolfe