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Latest News

GDP own goal as UK tunes in

by Personnel Today 11 Jun 2002
by Personnel Today 11 Jun 2002

The World Cup and Golden Jubilee will cost UK employers more than £3 billion
in lost output while staff stay tuned in to the events, according to the Centre
for Economics and Business Research.

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The centre’s research says that Friday’s historic victory for England
against Argentina and tomorrow’s game between with Nigeria, as well as the
Ireland-Germany clash could cost one third of a day’s output in June –
equivalent to £1.3bn in lost GDP. But the impact of the Golden Jubilee will
cost the economy an additional £2bn in GDP.

CEBR economist Richard Greenwood, said the impact will be offset by
increased spending. "Pubs and off-licence trade could benefit by around
£100m, as will telecoms, betting and newspapers," he said.

Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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Personnel Today
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