Rumors were running rampant last night after Buckingham Palace announced it was summoning all of the Queen Elizabeth II's senior aides to attend a special meeting at the palace.
Early speculation suggested that the Queen or Prince Phillip were ill-some social media posts even prematurely announced a death of one or the other. Perhaps, because of a 30-minute meeting yesterday between the Queen and British Prime Minister Theresa May, in which they discussed dissolving parliament in advance of Brexit, rumors flew for hours that the Queen would, in fact, abdicate. (Bookmakers were even making book on it).
But Buckingham Palace then announced that both are in good health and that there is "no cause for concern." According to The Express, the statement from Buckingham Palace would not be "a significant announcement. The Queen is not abdicating."
A former press officer for the royal family tried to assure the public that it was just as likely that the meeting could be about refurbishing Buckingham Palace, which needs to undergo £369 million in renovations.
Eventually, it turned out the announcement was less dire than the abdication of the throne. Rather, Prince Philip announced he would be retiring from his royal duties.
Had Queen Elizabeth, who has been monarch of all England since 1952, decided to abdicate-or if she eventually decides to do so-it could have far-reaching effects on tourism, especially in tandem with the "what if" scenarios faced by the nation as it works to divorce itself from the European Union.
Initially, of course, Prince Charles would become king. (He may, however, take on a new "ruling" moniker, so don't necessarily expect him to be called King Charles.)
As the monarchy transitions, the British Pound would almost likely take another dip as it did after the announcement of Brexit. Of course, new currency would immediately need to be printed, although experts predict it could take several years before the current money becomes obsolete.
[READMORE]READ MORE: British Pound Crashing Again Due to Brexit[/READMORE]
On the day Prince Charles is coronated, England will observe a national holiday. Banks will be closed and the stock market will suspend trading. During a 2015 article in Business Insider, the publication predicted that this type of event could mean a hit of up to £6 billion to the British economy.
A dip in currency rates could be good news for American travelers, who will certainly enjoy extra value from the strong U.S. dollar to British pound exchange.
On the other hand, hotel rates and prices on other land services will more than likely skyrocket leading up to the coronation as tourism operators cash in on this once-in-a-lifetime happening. Additionally, it is more than likely that visitors from around the world would flock to London to be a part of history in the making, so demand for royal-related tourism such as visiting Buckingham palace would more than likely skyrocket.
[READMORE]READ MORE: Brexit a Travel Treat For International Visitors to Britain[/READMORE]
So, while there might be some benefits in terms of a favorable currency exchange, conversely, prices and wait times would likely increase dramatically. It is also possible that as the nation prepares for the coronation, access to royal facilities could be strictly limited as the country heightens security in advance of world leaders visiting the U.K. for the coronation.
The confusion over what happens next for Great Britain, in particular as the nation forges its separation from the European Union, could also add to the confusion for travelers. How visas, passport control and other immigration and customs-related issues will be dealt with are probably not top of mind for the government, but could potentially tangle tourism entries as England figures out who needs what to visit.
On a smaller scale, tourists could also expect to see hundreds of other changes, including an update of the entry stamps in passports at immigrations control, changing the lyrics to the national anthem; even replacing insignia of police and other federal agencies that bear the symbol of the Queen.
These updates will not be limited to Great Britain, either, but will also affect commonwealth nations around the world, including Canada and Australia.
As commonwealth nations look at the financial hit of redesigning federally issued documents, stamps and currency to reflect a new monarch, it is likely they will also grapple with the decision of whether to remain under commonwealth rule or convert into stand-alone republics. All of the above could have a slowing effect on a tourism population that is already jittery about international travel.
Whether or not Queen Elizabeth eventually decides to abdicate, the swirling rumors today make for an excellent time to reflect on just what could occur should she choose to do so.
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