Xmas holiday costs London billions

Jan 05 2004 by Brian Amble Print This Article

As millions of Britons return to work after their extended Christmas break, the London Chamber of Commerce has estimated that the economy of the South-East will have lost more than £2billion as a result of the mass stay-away.

The timing of Christmas and New Year means that many people are returning to work for the first time since December 20. One in six of London's 3.7 million workers took a long break, it is estimated, with one in 10 firms closing down entirely until today.

With an estimated 6.5 million man-days lost in London over the festive period, this makes 2003 one of the one of the biggest close-downs ever.