London – During Queen Elizabeth’s 70-year reign, her “rule” has brought the value of the Royal Family brand to billionaire numbers, a calculation that goes beyond the royal family’s physical heritage of residences, art and jewellery.
The Royal Family brand is worth at least £67.5 billion, according to the latest valuation by Brand Finance consultancy. The last measurement was made in late 2017, but David Haigh, CEO of Brand Finance, estimates that number has not dropped since then.
He says that in all studies from 2012 to 2017, brand value has increased repeatedly each year, with the trend showing that the numbers are the same or higher.
The wealth and reputation of the royal family factor in the calculation
Brand equity is not just about the legacy of the royal family or the queen herself. Brand Finance, one of the world’s leading brand consultancy companies, used the same criteria used to calculate the value of companies’ brands to arrive at the value of the Royal Family brand.
In this type of estimation, assets and public perception are taken into account, as is the evaluation of any brand.
Tangible assets held by the entire royal family, such as property, artwork and Crown Jewels, were worth £25.5 billion. The royal family are England’s largest landowners.
The intangible value associated with the viewer’s engagement with the brand accounts for the remaining £42 billion. Good for family and UK.
Haigh, II. There is no doubt that Elizabeth’s positive image has contributed not only to increasing the wealth of the royal family, but also to the wealth of the United Kingdom.
He explains that the Queen was instrumental in strengthening British soft power (his influence over other countries), particularly through her support for the country’s diplomacy:
“While not overly involved in political matters, his behind-the-scenes role has helped pave the way for business and multilateral deals.”
Brand Finance CEO highlighted the Queen’s contribution in inviting global leaders to Buckingham Palace and attending international meetings.
The last was the G7 summit before COP26 held in Wales in 2021. There he was 95 years old and reigned among the world’s most powerful heads of government and state.
Brand Finance estimates that the monarchy generates around £2bn (£2bn) of gross revenue for the UK economy.
In the most recent study in 2017, the consultancy estimated that figure to reach £1.766 billion.
The contribution includes taxes paid to the government on Royal estates, as well as the monarchy’s indirect impact on various industries, notably tourism and the sale of products linked to the Royal Family brand.
According to Brand Finance, royal support values brands bearing the queen’s crest or seal of choice.
In the tourism industry, the magnificence and condition of palaces where members of the Royal Family like Buckingham or Windsor live help attract millions of visitors each year.
In entertainment, the mystery surrounding the monarchy is fueling the popularity of TV shows like The Crown, but some episodes may have caused headaches by revealing disturbing truths.
Items featuring the image of the Queen and members of the royal family are eagerly bought by visitors in official royal estate stores, gift shops and online, fueling a billion-dollar industry.
All this will strengthen the public coffers, create employment and attract investments.
Does the monarchy ‘pay for itself’?
Brand Finance considers the cost-benefit ratio to favor the UK, as the economic benefits of the monarchy are positively correlated with the costs of maintaining it, but monarchists disagree.
A significant portion of the public expenditures with the monarchy cover the maintenance of the royal residences and the salaries and travel expenses of its members representing England and traveling around the country and the world.
According to the 2017 estimate, these costs would be £4.50 (less than 30 reals) per person per year, or just over £1 per person per day. This year’s increase in spending created a negative reaction.
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Of course, this relationship is also extremely favorable for the royal family, whose advisers know how to use the value of their brand to further increase their wealth and all the economic opportunities of their privileged position.
It is not a coincidence that it is seen as a “Company” in the local press due to the image of the family and the professionalism it carries out its business.
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source: Noticias
