Cardiff's Jubilee celebration fantastic for trade, businesses say

Pubs and hotels are "absolutely booming" as events including the Platinum Jubilee weekend draw crowds, Cardiff's business group has said.

FOR Cardiff said "tens of thousands" of people were attending a busy schedule of events across the half term week.

Celebrations began with three nights of Ed Sheeran concerts in Cardiff, with a Wales match and Jubilee events to come.

Economist, Prof Max Munday from Cardiff University said the extra bank holiday was likely to cut productivity overall.

Half term began with Ed Sheeran performing to thousands of fans at the Principality Stadium, although the volume of visitors has caused traffic and travel issues.

Upcoming jubilee celebrations include a military music parade in Cardiff Bay on Thursday, followed by the lighting of a beacon in the evening.

Aled Jones and Bonnie Tyler will headline a concert at Cardiff Castle on Saturday night, while a Big Jubilee Picnic takes place at Bute Park on Sunday.

Football fans will also descend on the city on Sunday to watch Wales play either Scotland or Ukraine in the World Cup play-off following their game later.

FOR Cardiff, which was previously called Cardiff's Business Improvement District (BID), said the events were proving a big draw.

"It is not only a boost to the morale of the Welsh people, but also to business and the wider economy," said its associate director, Carolyn Brownell.

"From the conversations we are having with hoteliers, the licensees and retail, there is a real sense of optimism and positivity now.

"The hotels are predominately full, particularly with the events happening over the weekend.

"Retail is having a huge amount of intertest in its empty units, and licensees are absolutely booming over the weekend with lots of people wanting to enjoy the festivities and the plethora of restaurants and bars.

"It is a really fantastic time for Cardiff, and you can really see the businesses rallying together.

"That has been one of the positive outcomes of the pandemic," she said.

While hospitality and some retailers expect to benefit from the jubilee, economists say bank holidays generally have a negative impact on growth because so many people are off work.

Prof Max Munday is director of the Welsh economy research unit at Cardiff University.

He said: "There will be output lost in a lot of industries. They are going to be shut down, so output will be lost there.

"But then you have got sectors such as transport, food and restaurant services that are likely to see a boost of output."

Prof Munday said previous jubilee bank holidays showed a negligible impact on the economy, but that other impacts were harder to measure.

"Generally, if we were to look at the Golden Jubilee, and the Diamond Jubilee back in 2012, overall most of the assessments show there was probably a net loss of output.

"Of course there are things we can't measure with pounds and pence, such as people's wellbeing. Those things are much harder to estimate."

Businesses are also making the most of the appetite for items to celebrate the jubilee.

"We are selling loads and loads of bunting, loads of queen masks," said Deborah Williams whose shop, based opposite Cardiff Castle, has been decorated with union flags and cardboard cut-outs of the Queen.

"People are getting really, really excited," she said.

"In the last week it has really ramped up a lot."

She said she was aware of "loads" of street parties, care homes having parties and businesses were also "throwing parties" for staff.

"It seems to be that everyone just wants to get involved."