35 million liters of beer to celebrate the new reign

The coronation of Charles III has arrived, and with it a long holiday weekend in the United Kingdom. Entrepreneurs believe in it celebrations will serve to generate income and mitigate the decline in consumption related to free time registered in the country from the end of 2021, as a result of inflation. “We hope that people will celebrate this historic event by visiting their local pub, thereby supporting two iconic British institutions (the monarchy and pubs),” Emma McClarkin, director of the British Brewers Association, said recently, estimating that in these three non-working days will consume 62 million pints of beer (35.2 million liters) and that this will mean 120 million pounds (135 million euros) for the sector.

To celebrate the first coronation in seven decades, the authorities extended the opening hours for the public by two hours and, therefore, I can close at one in the morning. Traders also hope that the festival will affect their sales. This is how the Center for Consumer Research (CRR) calculates. Britons and tourists will spend around £250 million (280 million euros) in crockery, mugs and other souvenirs to immortalize the occasion, as well as in more than 20,000 street parties planned these days.

Criticism for spending

This was assured by Buckingham Palace the coronation will leave the economy with £1,000 million (1,130 million euros). Some claims meant to silence critics in relation to the cost of the work, which some have estimated at 280 million euros, which will be taken over by the Government.

However, there are reasons to doubt these projections. The holiday declared last June, to celebrate Elizabeth II’s platinum jubilee (70 years on the throne), hardly benefited some sectors such as supermarkets. Likewise, consultancy Pantheon predicts that the UK economy will contract by 0.2% this month.