Will your majesty marry me? The effect of royal weddings on the tourism industry

James Raad, Abhinav Sharma and Juan L Nicolau
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James Raad: Pamplin College of Business, 1757Virginia Tech, USA
Abhinav Sharma: Pamplin College of Business, 1757Virginia Tech, USA
Juan L Nicolau: Pamplin College of Business, 1757Virginia Tech, USA

Tourism Economics, 2022, vol. 28, issue 6, 1589-1604

Abstract: This article fills a void in the literature by investigating the impacts of royal weddings—arguably the grandest and the most iconic of public ceremonies involving royals—on destination-level brands. The direct and short-term effects of royal families and indeed the direct effect of seminal events involving the royals on destination-level accommodations and tourism service providers are more somewhat obvious. However, the more intriguing question and the one which we are more concerned with is: do royal weddings leave a more enduring legacy on the local tourism industry? The engagement announcement and the wedding date produce significant positive increases in the valuation of the home country’s tourism firms. Important managerial implications are derived in line with the long-term impact of unique events on tourism firms’ performance and the transference of brand knowledge from the destination to the companies is effective.

Keywords: destination brand; event tourism; market value; royal wedding (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:28:y:2022:i:6:p:1589-1604

DOI: 10.1177/13548166211004361

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