The Federation of Israeli Chambers of Commerce says that the election day vacation day will boost retailers' sales to NIS 1.3 billion. On the basis of past election days, the Chambers of Commerce estimates that election day retail proceeds will be 150% above a regular day's proceeds. The Chambers of Commerce expects a busy day at restaurants, stores, retail chains, and malls.
On the other hand, a survey by the Manufacturers Association of Israel found that 84% of small and mid-sized businesses are calling for the cancellation of the paid election day vacation day, which they claim causes them severe financial harm. The Manufacturers Association estimates the financial damage to small and mid-sized manufacturers at NIS 100 million.
61% of the respondents in the survey of 100 manufacturers said that the paid vacation day will delay deliveries, 59% said that output will be reduced, and 60% said that the vacation day is used for shopping and entertainment, which causes unjustifiable economic damage. 20% of respondents said that election day should not be a vacation day, as in the UK or the Netherlands, and 13% said that the current practice should continue, saying that election day is traditionally a day a holiday to celebrate democracy.
Published by Globes [online], Israel business news - www.globes-online.com - on January 20, 2013
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