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Burden or Benefit? The Economics of King Charles’ Coronation
The UK’s flair for pomp and ceremony will be on full display on Saturday for the coronation of Charles III. But will all that tradition and splendor be a benefit or burden to the UK economy? In terms of the actual event itself, the coronation is set to be a net positive for the British economy. While the actual costs aren’t disclosed, a number of media reports have estimated the cost of Operation Golden Orb — the codename for the event — at up to £100 million ($126 million). But estimates for the boost from tourism and to bars, restaurants and pubs runs into the hundreds of millions, according to estimates. ... (full story)