Queen's Jubilee Celebrations: Economics of a 4-Day Bank Holiday

The video discusses the economic impact of the Queen's Jubilee, highlighting a short-term boost in retail, hospitality, and travel sectors due to increased spending and travel. However, it also notes potential long-term economic drawbacks, such as a contraction in GDP, due to the extra bank holidays. Historical data from previous Jubilees is used to predict these outcomes.

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According to the text, what is the projected impact on GDP due to the extra bank holiday?