Thousands of people are expected to take to the streets of the Spanish capital today to see the new King Felipe VI crowned.
The new monarch takes the throne just hours after the Spanish defending champions were kicked out of the World Cup.
But not many tourists expect that will dampen celebrations.
“I have bought a few details, a mug with the image of the new king because I think it will be a historic day, I do not think I will live to see the next coronation.”
Some store owners say takings have soared largely because of Felipe’s popular clean-cut image is helping to shift souvenirs.
“The truth is that I’m surprised, because everything is selling really well, we are running out a lot of products,” said one shop worker.
But Spain’s long recession and continuing struggles with its economy have made many feel uncomfortable or unable to take part in any lavish ceremony.
Antonio Gil Alonso, Head of Madrid Hotels Association said: “We will have an average occupation similar to what we normally have at this time of year I think the proclamation intentionally will be low-key and it may even diminish visitor numbers to Madrid.”
Nonetheless, no-one is leaving anything to chance. Several restaurants have special menus, cakes and patisseries on offer to mark the occasion across the city.