God save the Queen ❤ 70 years of service. She didn't ask to be born in to royalty but served the United Kingdom very well. It's going to feel very strange when she's no longer around.
Forecasted to generate £3 billion if you believe the most positive prediction from the most likely of sources. Over one billion was a more measured opinion.
It won't have done anything of the sort though sadly. Boost to leisure sector only, but devastating to business services and manufacturing. A single bank holiday costs in excess of £2.3bn in GDP lost (and that's at 2012 rates, so with rampant inflation and brexit frictions, I think we can ramp that projection up considerably), to put them together will likely have a compound effect and worsen it all the more. Gain £1bn to lose £4-5bn. That's brexit logic.
https://en.wikipedia.org/wiki/List_of_countries_by_number_of_public_holidays https://archive.ph/1ggDb We get less bank holidays than pretty much any other country. I suspect after what we've just had there will be many calls to make it a annual event. Not all the pomp but moving the bank holiday and adding in another for four days in a row.
You're right, we do have less public holidays than other countries. But they still contribute less GDP on them for all sectors than a day that isn't a bank holiday. Given we're heading for recession, plus further future brexit frictions and escalating inflationary impact, I'm not sure an extra bank holiday is the right thing right now. And if the economy is left to drift and tanks, people will have a lot more than an extra day off. I'm not sure how anyone could spin the benefits of that.
There's so much data and insight out there as well about how the additional time off creates good will, improved mental health, and people are as productive if not more productive the week before and after to compensate for a decent percentage of the forecasted losses. It's basically why the four day work week gets touted around so often and is backed by people like the owner of Google. Knowing we're working four days we give everything to each one of them because we're far better prepared mentally. I was hoping my company was about to announce a four day week but instead they made us part employee owned (so can't complain). There's also a c. £1.1 billion benefit to GDP as well, so it isn't just a pure loss although obviously comes at an expense. Nothing is ever as black and white as figures on a spreadsheet though.