Carl XVI. Gustaf: Corona crisis has a massive impact on finance

Kings are also not protected from the consequences of the Corona crisis. Carl XVI. Gustaf may have to dig into his pocket …

The Corona crisis does not stop at the Swedish royal family either. As the local TV station SVT reports on its website, the palace is owned by Carl XVI. Gustaf (74) massively affected by the locks of the locks due to corona. Only four of the total of eleven sights are currently open and around 10,000 visitors a day usually flock to the Royal Palace in Stockholm's old town alone. At the moment there are only a few hundred people. As a result, sales in 2020 would shrink from around ten million to only around 2.5 million euros – a drop of an impressive 75 percent.

The palace therefore also foregone 300 employees who otherwise work for the royals on an hourly basis in the summer months. However, a spokesman made it clear that this would have an impact on the maintenance and preservation of the cultural heritage. Although tax money is also used to get money, around 80 percent of the finances would come from tourists' entrance fees. In Sweden historically there is a strict distinction between two different royal budgets.

A compensation should fix it

On the one hand, there is a court that is responsible for financing the royal family. On the other hand, there is the castle state, which takes care of the preservation of the cultural property. However, there are currently surpluses on the side of the royal family, also because trips and events have been canceled due to the Corona crisis. In Sweden, a balance between these two pots is now being discussed in order to minimize the losses on the part of the royal palace administrations.

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