British riots to cost economy nearly 400 mn pounds

August 11th, 2011 - 9:01 pm ICT by IANS  

London, Aug 11 (IANS) The riots across England could cost the British economy a whopping 392 million pounds, new figures revealed.

Figures from online comparison site Kelkoo said if the riots in cities outside London continue till Saturday, the bill would surely hit the estimated mark, the Daily Express reported.

Retail stores have already missed out on sales of 80 million pounds as they were forced to close early to avoid trouble. Customers also stayed away from many shopping areas.

Looted stores face a bill of more than 141 million pounds to cover stolen stock and clean-up costs.

Tourism is also likely to suffer. Britain could lose 520 million pounds if just one percent of visitors change their plans.

Another likely bill was 200 million pounds for the public who can claim compensation for riot damage.

Chris Simpson of Kelkoo said: “Retailers are sadly going to feel the fallout of this week’s riots for several months.”

Related Stories

Tags: , , , , , , , , , , , ,

Posted in World |

Subscribe