Governments and policymakers alike recognize the potential implications of public holidays on market performance and overall economic stability.
The landscape of public holidays exhibits significant variation across countries, impacting on various aspects of the economy.
An increase in the number of holidays correlates with positive impacts on economic growth up to an ‘optimal’ point. Ten public holidays is found to be optimal for fostering continuous economic growth.
Significant role of governments in managing the delicate trade-off between the number of public holidays and potential loss of working hours shall be further scrutinized.
By creating avenues that encourage increased consumption during holidays, governments can effectively bolster economic growth.