David Bailey portrait of Queen released to mark her 88th birthday

A portrait of the Queen by the renowned British photographer David Bailey has been released to mark her 88th birthday on Monday.

The photograph of the monarch, smiling, was taken at Buckingham Palace in March and commissioned on behalf of the government's Great Britain campaign.

The image will be used to support the campaign, which aims to generate jobs and growth by highlighting Britain as a world-class destination for trade, tourism, investment and education.

The Queen is wearing pearls and a dress by Angela Kelly, who has served as personal assistant and senior dresser to her since 2002.

A Buckingham Palace source said: "Bailey's name was suggested by No 10 and the Great campaign and the Queen agreed. The Queen agreed to sit for it in recognition of the work of the Great campaign."

Bailey said: "I've always been a huge fan of the Queen. She has very kind eyes with a mischievous glint. I've always liked strong women and she is a very strong woman."

The culture secretary, Sajid Javid, said: "The portrait of Her Majesty the Queen by renowned photographer David Bailey CBE celebrates her 88th birthday and supports the aims of the campaign, to showcase everything that is great about the UK to an international audience."

It is hoped that the image will encourage overseas visitors to experience Britain's royal heritage. Britain's monarchy, including royal heritage and property, is one of the biggest drivers of tourism into the UK, generating an estimated £500m a year from overseas tourism spending.

The Great campaign is said to have delivered economic returns worth more than £500m with a further £600-£800m expected in 2013-14. It was launched by the prime minister in September 2011 and is used by Britain's diplomatic posts in 144 countries around the world.

Bailey, 76, has photographed actors, writers, musicians, film-makers, designers, models, artists and people encountered on his travels over more than half a century.