Embrace Coronation Festivities, GDP Aside

Events like the Coronation are important. They affect the economy. They are like the World Cup final. They are also like a train strike.

The festivals make people spend a lot of money on decorations, sweets, and drinks, which makes them feel very excited. However, they also have a negative impact on the economy, just like when the railway system is closed. Actually, the influence of a train or subway strike is not as severe as it used to be since working remotely is more common now.

Many economists think that the country will lose more productivity from another holiday than they'll gain from the demand for souvenirs.

It appears that these events are happening more often lately. There have been three in less than a year. The first was the Queen's Platinum Jubilee, followed by her funeral in September, and now her son's coronation.

According to a quick calculation on the back of an envelope, three days without work in a year could mean losing 1% of GDP, which is worth about £20 billion.

Someone who does not believe in the monarchy may say that we cannot afford to lose the production after the difficult times we have faced. However, the Romans knew that entertainment is just as important as food for the country's wellbeing.

Have a great weekend! There won't be another royal bank holiday for a while. Some people think it could harm the economy a little, but a Coronation is still more enjoyable than a rail strike. It's also less stressful than watching England in a penalty shoot-out.

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