Hotels, restaurants and shops are packed as royal fans pour into the heart of London to experience the flag-lined roads, pomp-filled processions and brave a mileslong line for the once-in-a-lifetime chance to bid adieu to Queen Elizabeth II.
“That’s not surprising when you consider that the eyes of the world really are on the capital and the media, dignitaries and members of the public, just like myself, who just want to be part of such a historic occasion,” said Thomas Emanuel, senior director of hotel analytics firm STR.
On the Thames, the Riverside Cafe that's next to the mileslong, round-the-clock line for people to get a glimpse of the queen’s coffin, has been “extremely busy,” manager Zab Istanik said. He’s been opening two hours earlier than normal, at 7 a.m. University professor Chad Broughton, 51, who was visiting London from Chicago with two friends after a long pandemic delay, said their hotel room in the tourist-heavy Covent Garden neighborhood was pricey at 400 pounds a night.
“We’ve been mostly spending our money at pubs,” he said. “The conversion rate has meant that each time a bill comes, it’s like, ‘Oh, I thought it was about 30% more.'” The British economy is reeling from rising energy prices spurred by Russia’s war in Ukraine, driving the worst cost-of-living crisis in a generation. The government said it will cap energy bills for households and businesses, but prices are still painfully high. Inflation is the highest in the Group of Seven economies, at 9.9%.
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