Royal Wedding a boom for UK businesses

The Royal Wedding is proving a boom
for British firms, who have increased their orders with suppliers in China,
according to a foreign exchange specialist.

Travelex Global Business Payments
saw payments to China surge 14 per cent in the month after the announcement in
November that Prince William is to marry Kate Middleton.

David Sear, from Travelex, said:
“The confirmation of the date of the Royal Wedding has created a sunny
micro climate for businesses focused on commemorative memorabilia.

“Year on year comparisons show
a substantial increase in the number of payments to China since the date of the
Royal Wedding was announced.”

Many British companies have been
keen to get a piece of China’s exponential growth.

Luxury department store Harrods has
announced it will accept China’s only domestic debit and credit card UnionPay.

It has installed 75 dedicated point
of sale terminals at its flagship Knightsbridge store and a further eight at
airport terminal branches, in a bid to become “the most accessible store
in Europe for Chinese shoppers”.

In 2010, Harrods saw nearly double
the sales to Chinese visitors compared to the previous year.

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