Siberian Federal University economist explains whether long May holidays are beneficial for the economy
30 April 13:20
The May holidays bring more benefit to the Russian economy than harm. So says Oksana Dyagel, Candidate of Economic Sciences, Associate Professor of the Department of Finance and Risk Management at Siberian Federal University.
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There is an opinion that due to long holidays, the economy loses billions of rubles and productivity falls. The economist does not deny direct losses for industry, but calls this approach “linear thinking”, which does not see the whole picture.
During the holidays, the economy switches to consumer activity. Spending by Russians on holidays traditionally increases by 10-12%. For example, revenue from food delivery and goods for the home and garden increases up to 25%.
Domestic tourism is also gaining momentum – according to various estimates, from 2 to 3 million people travel around the country. For hotels, cafes, taxis and museums, the May holidays become a short but very profitable season.
In addition, there is a delayed effect: a rested employee works more productively in the next two months.
Let us remind you that this year Russians are waiting for two blocks of days off: from 1 to 3 and from 9 to 11 May.
Main photo: magnific.com
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