"Figures from the Night Time Economy Market Monitor, produced with CGA by NIQ, show that post-COVID closures are leaving communities without places to socialise after dark, threatening local culture, jobs, and the wider evening economy. "This is not just a hospitality issue - it's a cultural crisis," said Michael Kill, CEO of the NTIA. "Nightclubs and late-night venues are cultural institutions, economic engines, and cornerstones of community life. Losing them removes vital social and cultural spaces from our towns and cities.""
"The Numbers Behind the Decline 26% of towns and cities that had at least one nightclub in 2020 now have none. 16% have lost all late-night venues entirely. 2% have lost every venue in the wider evening economy, including restaurants, pubs, and cultural spaces. Since March 2020, the late-night sector has shrunk by 26.4%, compared with an 8.1% decline in the wider evening economy."
More than a quarter of towns and cities that had a nightclub in 2020 now have none, and 16% have lost all late-night venues, erasing evening social life in some communities. The late-night sector has shrunk 26.4% since March 2020, far outpacing an 8.1% decline in the wider evening economy. Rising operational costs, including hikes to minimum wage and National Insurance, and insufficient post-pandemic support have disproportionately hit independent operators. Larger managed groups have shown modest growth while independents struggle. Closures threaten local culture, employment, and the wider evening economy by removing cultural institutions and communal spaces after dark.
Read at London Business News | Londonlovesbusiness.com
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