Travel chiefs hail Jubilee boost

Sir Mervyn KingTravel chiefs have dismissed fears that the long Jubilee bank holiday weekend will harm the UK economy.

Bank of England governor Sir Mervyn King has warned the Jubilee celebrations, with bank holidays on June 4 and 5, could hit economic output.
But Laurence Hicks, director of holiday rentals company CLC Leisure, said the Jubilee would provide "a much-needed boost for business". And financial services company PricewaterhouseCoopers (PWC) said it would be a "good weekend for London".

Mr Hicks said: "We are expecting a bumper bank holiday and the same will apply to many other businesses involved in the UK leisure industry. Bankers may be taking a rest but many people in the leisure and retail will be working flat out.

"Spending on holiday accommodation, pubs, restaurants, attractions and all modes of travel will greatly increase during the first week in June. Even those who stay at home are likely to be spending more on food and drink be it for a street party or garden barbecue.

"Other businesses like garden and DIY centres will also benefit. The Jubilee is going to provide a much-needed boost for business and that has got to be good for the economy. I think the doom merchants are talking a lot of tosh."

PWC's hospitality and leisure research head Liz Hall said: "It should be a good weekend for the capital with all eyes on London ahead of the Olympics. Restaurants, bars and cafes are likely to benefit the most from the large crowds of visitors flocking to the capital."

Travel organisation Abta has said that around six million Britons intended to take a break in the UK or overseas over the Jubilee weekend.

Abta chief executive Mark Tanzer said: "Like last year's royal wedding, the Jubilee shows that extra bank holidays not only give us a chance to recharge our batteries but also give an extremely welcome boost to tourism and many parts of the wider economy."

A survey of 1,400 people by the the Travelzoo company showed that as many as 95% will take part in some form of event to mark the Jubilee. Nearly half plan to either host, or take part in, street parties.

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