It will be many, many years before George Alexander Louis takes the throne, but the little Prince of Cambridge is already having a major impact on his country.
According to The Center for Retail Research, based in Nottingham, England, the royal baby is expected to boost economic sales by £243 million—that's almost $400 million.
The center estimated that U.K. residents will spend £87 million ($133 million) on festivities and celebrations in honor of the new born. £25 million is expected to be spent on food while £62 million ($95 million) is expected to be spent on alcohol. The center estimates that 3 million bottles of champagne alone will be popped for the occasion.
Royal baby-themed toys and souvenirs are also expected to bring in a ton of cash—around £80 million ($122 million) according to experts. Excited spectators can purchase an array of items ranging from royal baby nail polish, to tea and fine china.
Also expected to contribute to the economic boom are DVD, book and media sales, which the center anticipates will reach about £76 million ($116 million). Even though the baby was born only three days ago, there are already three children's books available that center on the tot: "The Royal Baby," "The Royal Nappy" and "Shh Don't Wake The Royal Baby."
And it's not just royal baby-themed merchandise that is expected to contribute to increased sales. Once Prince William and Kate Middleton begin revealing their own purchased baby items like George's crib and wardrobe, experts say those brands will see a major economic boost.
Having the same items as the royal family, or any high-profile Brit, is seen as a "must-have status symbol," the center says.
They used Victoria Beckham as an example, noting that when she began toting daughter Harper around in an iCandy baby carriage, the company received an incredible benefit. In only two years, iCandy's sales nearly tripled.
