Extra policing and overtime alone is estimated at more than $35 million. Here’s a further cost – when all the people are celebrating, they’re not working. And because the wedding holiday falls between two long holiday weekends in England, you can take 11 days off by burning only three days of vacation time.
Economists have actually done the math. “Invariably that leads to a loss of output,” said Philip Shaw, chief economist at Investec. “So, in terms of the impact on GDP in the economy we’re suggesting that it could knock something like a quarter percent off growth.”
That translates into a potential loss to the economy of about $50 billion.