Sports

Shocking cost of Melbourne Cup Day hangover

source : au.finance.yahoo.com

It is the race that is bringing the country to a standstill and the Melbourne Cup could also be holding back the workforce.

Millions of workers are expected to be hungover on Wednesday after Tuesday’s big race, and it’s expected to cost the economy more than $750 million in lost productivity.

About two in five employees (44 percent) plan to drink with their colleagues on Melbourne Cup Day, while more than a quarter (29 percent) admit they plan to drink “a lot”.

Melbourne Cup

Australian employers are expected to absorb $750 million in lost productivity after the Melbourne Cup on Wednesday. (Source: AAP)

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The research, provided exclusively to Yahoo Finance from alc-eze found that 14 percent of employees planned to “work” from home on Wednesday while dealing with their hangovers.

About 6 percent admitted they would spend more time scrolling social media than actually doing work, according to alc-eze, a natural supplement designed to relieve hangover symptoms.

Others said they would not report to work at all as 650,000 people were expected to call in sick on Wednesday.

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Which employees will be the least productive?

Sales occupations are expected to see the biggest decline in productivity (42 percent loss), followed by those working in sports (40 percent) and retail workers (35 percent).

The research, which was based on a survey of 1,007 adult Aussies, showed productivity would fall by a third across the country on Wednesday.

New South Wales residents will be the least productive (35.9 percent loss), followed by South Australians (35.6 percent) and Top Enders (35 percent).

Infographic of the Melbourne CupInfographic of the Melbourne Cup

NSW businesses are expected to be hardest hit this Melbourne Cup. (Source: alc-eze)

Aussies spend $180 each

Recent research from Finder found that Australians planned to spend $180 per person on the Melbourne Cup, with around half of that spent on betting.

Worryingly, the survey found that 18 per cent of Aussies had increased their gambling behavior in the past year, despite cost-of-living pressures.

“There will be a certain percentage of people who gamble for fun and a certain percentage who gamble to make up for the shortfall in accounts,” Finder financial expert Taylor Blackburn previously told us. Yahoo Finance.

“There is only one guaranteed winner on Cup Day: the bookmakers.”

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Yahoo Australia


source : au.finance.yahoo.com

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