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UK Night Time Industry Contributes £66 Million To The Economy

27-06-15

The UK’s night time economy is worth £66 billion according to a new report.

While clubs across the UK are shutting down (The Arches, Plastic People and Crucifix Lane), Forward Into The Night, produced by new organisation Night Time Industries Association (NTIA), shows that six per cent of the UK’s gross domestic product is actually made by bars, restaurants, pubs and clubs.

Another key figure is the 1.3 million people the industry employs, with 2,000 jobs being given extra support when the night Tube opens in September, expected to bolster the economy by £300m.

It goes on to say how a “curb” of the night time industry would have no effect on the amount of violence and alcohol-related crime, saying “most alcohol is consumed in licensed venues” and crime rate is 38 per cent lower than it was in 2002 to 2003.

Chapters in the report include ‘Fuelling Regeneration’, ‘Night Time Myths’ and ‘International Impact’, while the NTIA has compiled a list of recommendations.

Here are the NTIA recommendations in full: 
1. For the night-time economy (NTE) to flourish in the UK, the industry needs to work together to collectively gain favour with policymakers and the police
2. The evident social and cultural readjustment to the night-time economy should be accounted for through fair regulation across licensing, planning, entry procedures, and crime. The police and local authorities need to realise the value to the NTE has to local communities
3. Nationally, licensing frameworks should work with operators to better support venues while ensuring the safe and effective operation of the industry
4. Crime classifications need to be revisited so as to recognise that crime associated with the night-time economy is not committed by venues, but against them
5. We should be encouraging a nationally accepted code of conduct for the industry, which ensures best practice, and protects the individual venues that are operating to the standards imposed and accepted by the industry
6. The nature of the conversation around the industry needs to change – to support and champion one of the UK’s most culturally significant industries, rather than belittle and stifle it
7. Regular research into the quantitative value of the NTE should be undertaken, to ensure that policymakers and industry are made aware of the contribution to UK culture, economy and society

Read the report in full here

Well if you ever needed a good excuse to go out, supporting the UK economy is good enough for us! Head down to your local UKCN venue now!