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Dawn Anchor, who runs a pub in the village of Kings Worthy, about 60 miles southwest of London, has everything she needs: packs of red, white and blue flags, mini Union Jack flags and a life-sized cardboard cutout of King Charles III .
The coronation of Britain’s new monarch this weekend was a gift to her establishment, one of Britain’s few pubs aptly named The King Charles.
And like many businessmen weathering Britain’s economic crisis, Ms Anchor hopes the coronation will bring some much-needed relief (and sales).
At The King Charles, the festivities begin on Friday with a 5pm day serving breakfast through dinner, with afternoon tea in between. Fuller’s Coronation King’s Ale, a bitter special edition, is expected to contribute to the estimated 17 million additional pints poured across the country over the three-day weekend, according to the British Beer and Pub Association.
Pub parties go beyond the traditional British pastime of drinking. Also scheduled: pie contests, dog shows, horse-drawn carriage rides, choral singing, and other musical performances.
“I’m hoping for a huge increase” in customers, Ms. Anchor said. But more importantly, she said, the weekend is an opportunity to “show what we’re doing” and attract people to keep coming once the coronation bunting is down.
“It’s all about what people could do next,” she said.
The country – both companies and households – could use some rest. The UK economy has been stagnant for most of the past year. The inflation rate is the highest in Western Europe, food prices are about 20 percent higher than a year ago and households are feeling the cold grip of a deep crisis in the cost of living.
Utility bills at The King Charles have doubled and food costs have risen. Increasing the number of customers, for example with reduced meals on quiet days, was the only way the pub could combat the skyrocketing costs. Business has been good, said Ms Anchor, but the efforts to attract people to the pub cannot stop. The coronation weekend is an opportunity not to be missed.
The hospitality industry in particular will benefit from a national holiday on Monday this weekend. UKHospitality, a trade group, estimates businesses will bring in an additional £350m ($437m) if hotels fill up and pubs are allowed to stay open later. Businesses hope the coronation can spark a rebound in consumer confidence, but the celebrations are unlikely to fundamentally change the UK economy.
“The overall impact is likely to be very small — could be positive, could be negative,” said Stephen Millard, deputy director of the National Institute of Economic and Social Research.
National holidays tend to reduce economic output as offices, factories, and many other workplaces close during the day, even as tourism and the hospitality industry increase. Last June’s Platinum Jubilee weekend, which celebrated Queen Elizabeth II’s 70th year on the throne and included an additional holiday, had little effect on quarterly economic growth numbers.
“The overall picture will be very slow growth this year, I don’t think that will change – coronation or not,” added Mr. Millard. Britain could avoid a recession this year as the economy is doing slightly better than expected, but what the economy needs is a rapid slowdown in inflation and an increase in public investment in critical sectors such as healthcare, education and infrastructure, he said.
But the coronation could boost confidence, Mr Millard said. “The economy could use a boost.”
The last coronation, in 1953, would also bring relief. The economy was still recovering from World War II. There were well-known celebrations, including processions and street parties. According to the UK Parliament’s website, sugar rationing was still in place, although it was relaxed somewhat to help people enjoy the celebrations.
Seventy years later, pies and other treats take center stage in the celebrations. Grocery stores sell cakes, cookies and other coronation-themed items. The Center for Retail Research estimates that more than £130 million will be spent on food and party favors, as well as a further £245 million on souvenirs and other memorabilia. The sale would be a boon to retailers, as sales volumes have nearly fallen over the past two years as high prices forced people to cut corners.
Still, the coronation weekend is not expected to be as big as the Platinum Jubilee, said Kate Nicholls, UKHospitality’s CEO. But May brings two other bank holidays and the Eurovision Song Contest, this year in Liverpool, quickly followed by the final of the FA Cup, the popular football tournament.
“There’s something for everyone and we hope we can start to rebuild that momentum and restore consumer confidence,” said Ms. Nicholls.
“It’s been a long, slow road to recovery” since the pandemic, she said, pointing to higher utility bills and other costs and staffing challenges.
Brigit’s Bakery in central London is benefiting from the extra tourism. One of the double-decker buses, serving afternoon tea en route, is adorned with coronation-themed decorations. For about a month, the coronation bus will tour London’s main tourist attractions three times a day, like a moving billboard.
The coronation “brings a huge cash inflow to central London businesses, and we can reap some of those benefits,” says Mehran Sahabi, the bakery’s director.
It will be a welcome boost as the bakery has seen the cost of its essentials – namely flour and butter – skyrocket.
For tourists with more money, Hotel Cafe Royal offers a package that includes a private tour of the Tower of London and an after-hours viewing of the Crown Jewels. Starting price: £12,995.
The outing was put together by Linda Hugo, who has been designing exclusive experiences with a royal theme for years. Since starting her business Beyond Curated in 2019, she has had to navigate her business through pandemic lockdowns. She hopes the coronation marks the start of a year-long increase in business and tourism; she is already inventing new themes inspired by the king’s interests, such as botany.
“The beginning of the year was a bit quieter than I expected,” said Ms. Hugo. “Although it is picking up considerably now, I think we may not yet see as much excitement around the coronation internationally as we had expected.”
She expects some people to want to avoid the crowds and visit London after the festivities.
Back at The King Charles pub in Kings Worthy, there is also the expectation that this is just the beginning. Visitors to the pub this weekend will be greeted with billboards advertising upcoming events, including outdoor performances of ‘Romeo and Juliet’.
“This is the beginning of summer for us,” Ms. Anchor said.
