The Night Time Industries Association (NTIA) and CGA by NIQ have introduced the Night Time Economy Market Monitor, reflecting on the current state of the UK's night-time economy. The latest findings reveal that while consumer spending is similar to pre-COVID levels, the recovery's pace has slowed, exacerbated by rising business costs and a stagnation in gross value added (GVA). Employment trends indicate slight overall growth, but key areas like licensed clubs and pubs have seen sharp declines. The NTIA urges policymakers to recognize the importance of the night-time economy and implement strategies for its sustained growth.
The Night Time Industries Association's new report underlines the resilience and challenges faced by the UK's night-time economy, calling for policy action to safeguard its future.
Despite consumer spending resembling pre-COVID levels, the recovery pace has slowed, highlighting ongoing difficulties in sustaining growth in the night-time economy.
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