UK economy boosted by £700 million from Jubilee weekend

A four day frenzy of spending by tourists during the Queen’s Diamond Jubilee weekend has injected £700 million into the UK economy.

Cited by sky.com, tourist board VisitEngland said the figure was boosted by tourists booking up at hotels in London and other destinations, but the revenue generated by indoor function venues could have also played a part.

Heavy winds and showers appeared to put a literal dampener on the many planned street parties between Saturday – Sunday, but organisers could have dodged the rain by transporting the crowds to their pre-booked indoor venues. The forecasts had been predicted for a while, so the wise should have been well prepared.

Even so, despite the UK going through a recession, it’s comforting to know that business from various areas of the hospitality sector can contribute to the economy on significant dates. The figure of £700 million almost doubled the £480 million spent by tourists last year for the Royal Wedding of Prince William and Kate Middleton.  

Researchers for the board also found that the overnight tourists spent an average of £175 during their stay, with London’s many pubs, restaurants and shops possibly enjoying a lucrative weekend.           

In quotes published by thedrum.co.uk, Sarah Long, a spokesperson for VisitEngland, said: “The Jubilee celebrations have captivated audiences at home and around the world and will hopefully attract increased visitor numbers for years to come.”