Monarchy mania earns king's ransom

Reuters

BIG BUSINESS: Britain's royal family are a huge tourist drawcard, generating over NZ$1bn a year.

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The British monarchy generates over GBP500 million ($NZ1.06 billion) a year from overseas tourists, according to a report released.

The spell cast by the monarchy's 1000 year history, combined with international media interest in the current Royal Family is extremely powerful at drawing people to certain iconic locations, added the report from the British Tourist Authority.

The Tower of London was the top royal attraction last year, with 2.4 million visitors.

The National Maritime Museum in Greenwich which incorporates the Queen's House - home to the wives of James I, Charles I and the Royal Observatory - was second with 2.3 million.

Edinburgh Castle received 1.1m visitors, putting it in sixth position. Windsor Castle, a principal residence of both Queen Elizabeth I and II came seventh, with 987,000.

The royal residences of Buckingham Palace, Palace of Holyroodhouse and Windsor Castle attract almost 2 million overseas visitors every year.

Britain's culture and heritage, including theatres, pubs, galleries, castles and stately homes brought in around 4.6 billion in total spending in 2009 and supported 100,000 jobs, the report said.

- Reuters