Diamond Jubilee brings boost for East Midlands Economy

Diamond Jubilee should bring more money to local economies Credit: PA

The East Midlands economy is in line for a boost next week thanks the Diamond Jubilee celebrations.

The Nottinghamshire and Derbyshire Chamber of Commerce estimates people in the two counties will spend £51.5m.

Of that, £10.8m will be spent on food and snacks, £8.8m on drinks, £4.1m on souvenirs and £3.6m on decorations, with those celebrating the event expecting to spend an average of £40-per-person, according to the figures.

However the Chamber warns the good news will be offset by lost productivity for local businesses, as we take an extended weekend off.

Meanwhile small businesses in the region, which specialise in party merchandise and memorabilia say they have already seen a 40% increase on sales compared to the Golden Jubilee celebrations in 2002.