The latest addition to the royal family has captured the attention of the world. The media have been keeping a close watch on the Duke and Duchess of Cambridge and their new baby boy. It’s no wonder that this worldwide attention has resulted in companies wanting to cash in. They’ve been producing merchandise like royal potties and china plates to commemorate the day.

According to economic forecasters, the royal baby could improve Britain’s economy by $780 million in the short-term. Brand Finance, an asset valuation agency, said the monarchy could add $2,9 billion to the British economy as it is a valuable brand in Britain. Brand Finace’s Chief Executive David Haigh said:

Whether you agree or disagree with the constitutional principle, there is little doubt that the monarchy adds significant annual earnings and long term economic value to the UK.

The latest Windsor will be an effective and lucrative ambassador for Brand Britain, making a significant contribution to the task of driving Britain out of the recession. There is a trend in favor of the royal family and they are clearly getting very good advice over marketing and communication.

Clarissa Campbell Orr, an historian of royalty at Anglia Ruskin University in Cambridge said:

There are people who have not forgiven Prince Charles for his relationship with Princess Diana but the relationship between William and Kate is unclouded and uncomplicated. It promotes continuity.

This is a fresh generation. The monarchy has proved that it is adaptable and it’s much more media savvy than it used to be.

They haven’t put a foot wrong in anything they have done recently,” Haigh said. “I am neutral about the monarchy as an institution but if you look at the economics, it is almost irrefutable that they are going a good job in helping the British economy.

[Source: Reuters]