Nighttime economy, defined
A city or town’s nighttime economy is any economic activity that takes place from dusk to dawn.
This, of course, includes the nightlife, hospitality and leisure industries.
“The nighttime economy is about creating towns and cities for all ages, cultures, creeds and genders,” says Shain Shapiro of Sound Diplomacy
However, an inclusive municipal model for nighttime economies also encompasses late-night and overnight employment sectors like retail, transportation, healthcare, information technology, shipping and distribution, and public safety.
Why is the nighttime economy important to your city or town?
Le marché international des professionnels de l’immobilier (MIPIM) is an annual, international commercial real estate conference and exhibition. That organization articulates well the benefits.
“The night-time economy can:
- Add vibrancy and a sense of uniqueness to a location.
- Create social cohesion and inclusion.
- Nurture the artistic and creative industries.
- Bring wealth to local economies.
- Develop the tourism and cultural offer.
- Provide essential services and transport for night-time workers.”
MIPIM adds, “Collaboration is the cornerstone of a night-time economy for the benefit of all. It is about getting together all stakeholders: residents, community groups, public authorities, private operators, tourism organizations, as well as those who plan, design, build, manage and invest in cities.”
Photo by Andre Benz on Unsplash