Jubilee boost then brake predicted for UK economy

2. Queen Jubilee
Visitors dressed-up with Britain’s national colours take a selfie picture as they gather at The Mall, in London, on June 1, 2022 ahead of the Platinum Jubilee’s celebrations for Britain’s Queen. (Photo: AFP)
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.اضافة اعلان

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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