Royal Wedding to Cost UK Economy $7.9 Billion

Employers fear workers will take entire week off

By Rob Quinn,  Newser Staff

Posted Nov 24, 2010 4:08 AM CST | Updated Nov 24, 2010 5:40 AM CST

(Newser) – Good news for the British: They'll be getting an extra day off to celebrate the royal wedding next year. The bad news: That extra day off will cost the country $7.9 billion, according to calculations by the Telegraph. Business groups expect the day off to result in $9.48 billion in lost productivity, which will be offset by some $1.6 billion in extra spending by tourists and in sales of memorabilia.

The extra day comes the week after Easter, giving employees a 3-day work week. Employers fear many workers might call in sick for the entire week. "There will be a real temptation to not bother going into work that week. It could see many businesses just shut down," says the chief of Britain's Federation of Small Businesses. "There is a real risk we are turning into France when we just put down tools for weeks at a time." Click here to see how much the wedding itself is expected to cost.

Mug sales won't be enough to offset lost productivity, business groups warn.   (AP Photo/Tim Hales)
LONDON, ENGLAND - NOVEMBER 16: Prince William and Kate Middleton pose for photographs in the State Apartments of St James Palace on November 16, 2010 in London, England. After much speculation, Clarence...   (Getty Images)
Prince William and Kate Middleton pose for photographs in the State Apartments of St James Palace on November 16, 2010 in London, England.   (Getty Images)
Prince William and Kate Middleton pose for photographs in James Palace after announcing their engagement.   (Getty Images)
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