The Royal Family is set to celebrate two weddings in 2018, with Princess Eugenie announcing her engagement to long-time boyfriend, Jack Brooksbank.

Buckingham Palace confirmed via its official Twitter account the pair became engaged this month while on a trip to Nicaragua. 

"The Duke and Duchess of York are delighted to announce the engagement of Princess Eugenie to Mr. Jack Brooksbank," the palace Tweeted on Monday night, Australian time, with a photo of the official announcement attached.

Eugenie is the daughter of Prince Andrew, the Duke of York, and Sarah, the Duchess of York, and is granddaughter of Queen Elizabeth II and a first cousin to Princes William and Harry. She is the younger sister of Princess Beatrice.

The announcement comes as preparations step up for the May 19 nuptials of Harry to American actress and activist Meghan Markle.

The palace said Princess Eugenie, 27, and Mr Brooksbank, 31, would marry in the second half of 2018 at St George's Chapel at Windsor castle, the same venue Prince Harry and Markle will wed. 

As one royal observer noted, 2018 is going to be a boon for the millinery industry.

Eugenie began dating Brooksbank around seven years ago after they met while skiing in the Swiss resort of Verbier.

Brooksbank was the manager of London nightclub Mahiki but reportedly left in 2016 to set up a wine business.

Princess Eugenie, the eighth in line to the throne, will keep her royal title and has the option to take Mr Brooksbank's surname when they marry.

Prince Harry and Markle announced their engagement on November 27 last year.

With agencies