Skip to main content
Home

Main navigation

  • Top stories
  • Health
  • Crime
  • Politics
  • Business
  • Tech
  • Culture
  • Sports
  • Weird
  • 1-1-2
Image
No public transport due to snow
No public transport due to snow - Credit: Dries Arnolds, NLTimes.nl
Business
Nature
snow
economy
dutch economy
GDP
economic growth
Foundation for Economic Research
Statistics Netherlands
Peter Hein van Mulligen
Arjan Heyma
weather
Tuesday, 12 December 2017 - 13:40
Share this:
  • facebook
  • twitter
  • linkedin
  • whatsapp
  • reddit

Snow day caused €35 million hit to Netherlands economy

Monday's heavy snowfall, and the problems in traffic and productivity it caused, cost the Dutch economy around 35 million euros, according to calculations by the Economic Research Foundation and Statistics Netherlands chief economist Peter Hein van Mulligen, BNR reports.

If there is a whole business day in which no work is done in a quarter, like when Christmas falls on a week day, it costs the Netherlands' GDP 0.2 to 0.3 percent of growth, Van Mulligen said to the broadcaster. That amounts to 350 million euros the Netherlands' economy loses out on.

But the snow on Monday did not bring the entire Netherlands to a complete standstill. "Most factories kept running and most people continued to work somewhere. It's a bit of delay and some lost hours", Arjan Heyma of the Economic Research foundation said to BNR. He estimates that a day like yesterday amounts to about 10 percent of a day when absolutely nothing gets done. So the Dutch economy lost out on around 35 million euros, he said.

Research agency TNO also calculated that the record breaking traffic jam during rush hour on Monday, cost Dutch companies around 4.2 million euros in lost hours.

Heyma also pointed out that the snow also brought something in. "For example extra gas yields and all the damage that has to be repaired. That will in time lead to additional production", he said. Though he acknowledged that these revenues can't be enough to compensate for the loss.

Follow us:

Latest stories

  • Some Dutch cities not flying Syrian flags for earthquake victims at refugees' request
  • Van Gogh Museum kicks off 50th anniversary year with family exhibition
  • Three Dutch people reportedly among those killed in Turkey-Syria earthquakes
  • History of Indonesia in colonial era deserves a prominent place in Dutch education
  • Dutch consumers hunting down more cheap nearly-expired groceries and factory rejects
  • Eneco will sign fixed energy price contracts for the first time since 2021

Top stories

  • Three Dutch people reportedly among those killed in Turkey-Syria earthquakes
  • Putin played an active role in conflict around MH17 downing; No new suspects prosecuted
  • 42% of secondary school teachers witnessed anti-Semitism in class
  • 40% of home buyers end 2022 were first-time buyers
  • Dutch team rescues 6 people from rubble in Turkey; Death toll climbs to 8,100
  • Rutte tells Erdogan the Dutch can offer more help; Dutch donate millions in relief aid

© 2012-2023, NL Times, All rights reserved.

Footer menu

  • Privacy
  • Contact
  • Partner content