The much-anticipated birth of the royal baby has been priming the country for consumer spending. Now that the royal baby was born, a US$380 million stimulus package seemed to have been born with him as well.
The son of Prince William and Kate Middleton, Duke and Duchess of Cambridge, drew celebrations in London, all throughout the United Kingdom as well as the world. Citizens of Britain and elsewhere in the world rejoiced at the news of a new royal.
The future heir to the throne has also caused the British economy to rejoice. The celebration was expected to spawn frenzy for royal baby-related merchandise such as Union Jack booties and "Born to Rule" pajamas. The result will be big net profits for the economy of UK.
"Analysts estimate the baby fever could boost the economy by 240 million pounds ($380 million)," said a Reuters report. "Bamfield forecast 4.8 million people would splash out 62 million pounds on alcohol to wet the future monarch's head and spend 25 million pounds on food for baby parties. He expected 156 million pounds to be spent on commemorative china and other collectibles,toys, books, DVDs and media," added the Reuters report.
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