BUSINESS leaders, hoteliers and tourism bosses are hoping for a bumper Jubilee weekend.

Traders have rejected fears that the four-day bank holiday weekend will create a £60m gap in Oxfordshire’s economy.

While many will not be at work for at least the Monday and Tuesday holidays – and possibly the whole of half-term week – experts believe the impact will be made up by increased turnover at tourist attractions, restaurants and visitor hotspots.

John Hoy, chief executive at Blenheim Palace, Woodstock, said: “We are very excited about it and it should be good business which will help us recover from April, which was appalling because of the weather.”

Mr Hoy added that he expected up to 5,000 visitors a day to Blenheim which will be hosting the Bunbury celebrity cricket team on Monday, followed by a series of brass bands playing patriotic tunes on Tuesday. On a normal Tuesday, about 2,000 people visit Blenheim.

Jonathan Oldroyd, general manager of the Four Pillars hotel in Sandford, said all of their 62 rooms were full over Saturday and Sunday.

He said: “We have a lot of guests staying next week as well and this week has also been good because of the weather.”

Accountants at Oxford firm James Cowper reckon the impact of the four-day weekend will cost the county £60m in lost business.

Partner Mike Farwell said: “Some commentators are even arguing the impact could hinder efforts to pull the country out of recession.

“But it is also important to remember there may be a significant boost for sectors such as tourism, restaurants, pubs and retailers.

“Most importantly the feel-good factor the celebrations will bring and the benefits of returning to work fully refreshed after a break are something even the best accountant can’t measure.”

Organisers are putting the last minute touches to more than 160 street parties across Oxfordshire this weekend.

There are also dozens of official celebrations being organised by local councils.