Edinburgh is set to lose out on close to £100m due to the cancellation of its Christmas market, according to new findings.
The city, which attracts around 2.6 million people each year to its Christmas market, is a popular destination for shoppers and revellers during the festive season, but the axing of this year’s market is set to hit hard financially.
In October it was revealed Edinburgh’s Christmas market would be cancelled this year due to the Covid-19 pandemic.
Earlier this month it was announced Edinburgh’s Christmas market will be held online instead.
Figures from printing firm Where The Trade Buys show Edinburgh’s Christmas market will miss out on £88,400,000 this festive season.
Edinburgh has been ranked fifth on a list of the UK’s most popular Christmas markets, behind Manchester, Birmingham, London and Newcastle.
The top ten, which also includes Belfast, Bath, York, Winchester and Lincoln, are collectively set to lose out on £882,300,000 due to Christmas market cancellations.
Manchester, which draws around nine million visitors each year to its Christmas market, is expected to lose out the most – totalling £306m.