LONDON —
Queen Elizabeth II’s Platinum Jubilee should
provide a boost to Britain’s beleaguered retail and tourism sectors, but could
also then slow the stuttering economy, analysts said on Wednesday.
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Thursday sees the start of four days of festivities
to mark the 96-year-old monarch’s record-breaking 70 years on the throne.
With two public holidays on Thursday and Friday,
then the weekend, supermarket chain Co-op predicted “a bigger sales period than
Christmas”.
“Sales are set to be booming in the run-up to the
bank holiday weekend, with shoppers set to flock to the stores on Wednesday,”
it added.
It forecast a 10-percent increase in wine sales
alone, and was expecting to sell 500,000 bottles of sparkling wine and 30,000
bottles of Champagne.
Double the amount of English fizz was also predicted
to fly off the shelves, as people look to toast the occasion with a taste of
patriotism.
The
UK government said more than 200,000 local
events and street parties were expected to be held across the country over the
four days.
VisitBritain, which promotes British tourism, said
the celebrations could bring in some $1.5 billion to the economy.
Some 5.3 million Britons are likely to take time off
work, it added.
Co-op is expecting to sell 500,000 sausages and
400,000 packets of crisps and other snacks — 25 percent more than normal.
“The key lines such as bunting and flags have done
very well this week along with beers, spirits, and crisps,” the Morrisons chain
said.
“Jubilee-themed products” such as corgi-shaped cakes,
cupcakes, and pies were also proving popular, a spokeswoman told AFP.
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