Wind of Change as British Monarchy Enters New Era?

This weekend the world is once again turning its eyes towards Great Britain, thanks to the radiant British Royal family. The coronation of King Charles III is not just an historic event marking the transition from the beloved late Queen Elizabeth II, but also embodies one of our country's most iconic cultural assets. The brand power of this family and the polishing of Great Britain's image after Brexit cannot be underestimated.

It is not just the German media that have been euphoric during King Charles and Queen Camilla's recent state visit to Germany, but this positive PR is precisely what the UK needs. With inbound travel numbers still 19% below pre-pandemic levels, having a strong brand ambassador is crucial for our economy, as tourism makes up 9% of our GDP.

Critics argue that the cost of the Royal Court, which amounted to ￡86.3 million in the fiscal year 2021/22, is a burden on taxpayers. However, this is a misconception as the court is funded by the Crown Estate, which generates additional revenue of over ￡200 million for the treasury. In fact, many constitutional lawyers believe that dissolving the monarchy could call into question these state revenues, as one of the two contracting parties would no longer exist.

Despite some criticism of the monarchy, a recent YouGov poll shows that 58% of respondents prefer to keep the Monarchy compared to 26% who would prefer an elected head of state. While some perceive King Charles as out of touch, it takes time to build the same approval ratings as the late Queen Elizabeth II, who also had her share of ups and downs during her reign. With a focus on modern issues like diversity, equity, and inclusion, as well as climate protection, and a young generation ready to lead, the monarchy seems to be in a good position to continue serving our country.