The King’s coronation helped boost visitor numbers at royal residences and demand for monarchy-related retail items, according to the Royal Collection Trust.
Charles and Camilla were crowned in a glittering ceremony staged at Westminster Abbey on May 6 2023, and the following day a celebration concert was staged in the grounds of Windsor Castle featuring Lionel Richie, Paloma Faith and Take That.
The annual report of the trust, which preserves artwork and decorative arts amassed by monarchs and manages the public openings of the King’s official residences and other attractions, showed a record income during 2023-24 of £84.3 million.
Tim Knox, director of the Royal Collection, said in the report: “The coronation had a significant impact on our visitor numbers as we saw a heightened public interest in visiting the royal residences and high demand for our retail ranges.
“Visitor numbers were also strengthened by two highly acclaimed exhibitions at the Queen’s Gallery, Buckingham Palace: Style & Society: Dressing the Georgians and Holbein at the Tudor Court.
“These successes contributed to a record level of income this year, firmly securing our ongoing financial recovery following the pandemic.”
Visitor numbers of 2.7 million were recorded, up from 1.9 million the previous financial year but still down on pre-pandemic levels from 2019-20 when 3.2 million people toured royal residences and galleries.
The RCT is a charity which does not receive public money and funds its work from admission charges to the royal residences and other commercial activities.
The report said: “Net retail income of £26.7 million was achieved for the year. Sales of merchandise and books were considerably boosted by two notable ranges.
“The coronation range was launched in spring 2023 and the commemorative range celebrating the life of Queen Elizabeth II continued to sell positively following the launch in January 2023.
“Online sales were slightly reduced compared with the prior year with sales totalling £3.8 million (2022/23: £4.4 million).”
