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As Prince Harry and Meghan Markle tie the knot, all aspects of their wedding from the dress, to the decorations to her tiara, will be eagerly watched by people around the world.

As more plans about the special day get revealed, wedding planners are estimating just how much the lavish affair will cost.

The couple have already revealed they will have the ceremony at Windsor Castle in a “fun and joyful” wedding next May, and that the royal family will covering the bill.

UK wedding planner Hamish Shephard is estimating that the total cost of the wedding could come to a total of AU$20 million.

He believes the costs will be divided into two main sections – the wedding and the security needed for the event.

Unlike a typical wedding, security will be the largest expense with Hamish estimating it to cost an enormous $18 million. While the royals have said they will “pay for the core aspects of the wedding, such as the church service, the associated music, flowers, decorations and the reception afterwards”, it is expected the security cost will be covered by the UK taxpayers.

The wedding itself is expected to cost the royal family $2.7 million, with Hamish estimating the main expenses to be catering, alcohol and decorations.

“Their wedding will cost almost 100 times the average cost of a wedding,” he said.

“A beautiful American actress marrying a caring British Prince in a royal castle could easily be a fairytale in itself, so the whole world will be watching and wishing them well.”

Speculators are already labelling their special day as the wedding of the decade.

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