Britain's Princess of Cambridge is ''highly likely'' to be named today (03.05.15).

The second child of the Duke and Duchess of Cambridge, William and Catherine, was born yesterday (02.05.15) at 8.34am BST at St Mary's Hospital in London, and having spent a night at Kensington Palace, experts are expecting the family to reveal the name of the tot later today.

The Daily Mirror newspaper's royal reporter Victoria Murphy said: ''Today we're hoping to see visitors to Kensington Palace and also find out the Princess's name.

''The naming is highly likely, but not definite.''

Although the parents - who already had 21-month-old Prince George - have not yet hinted at any names, Charlotte and Alice are the favourites according to bookmakers, while there are also high odds on the child being called Elizabeth, Olivia or Victoria.

The couple's daughter - who is the first girl to be born into the British monarchy in 25 years - comes more than a century after the first Princess of Cambridge, Mary, who was born in 1833.

Dubbed the 'People's Princess' as a youngster due to her charity work, the royal - who is the great-great-great-great grandmother of the newborn child - later became known for her lavish parties and decided to exile in 1883 after running up sizeable financial debts.

However, tourism experts believe the latest birth will spark a positive economic situation, with VisitLondon predicting the English capital will see 32 million UK and overseas visitors in 2015, up from the 29.1 million who took the trip in the year her elder brother George was born in 2013.