Night Time Economy Report (2023)
For this, its second study on measuring the value of UK’s nocturnal ecosystems, the Night Time Industries Association (NTIA) incorporated information that included the UK’s cultural economy.
The nighttime cultural economy in cities is distinctive by its direct association to the creative and performing arts. It is these creative activities that the nighttime cultural economy excels in and which provide the real point of difference in the nighttime economy.
The cultural economy plays a vital role in driving foot traffic and purchases to business districts at night. The nighttime cultural economy also brings identity, pride, and a unique sense of purpose to places.
This benchmark report defines the true journey this industry has been on over the last few years, and the profound impact on the entire nightlife ecosystem across the UK. There is now little doubt that Night Time Cultural Economy, SMEs [small and mid-size enterprises] and independent businesses were among the hardest hit during the pandemic, and beyond.
These businesses make up over 70% of our industry, and are so important to economic and cultural recovery, as well as social cohesion, mental health and wellbeing, nightlife tourism and the survival of high streets within towns and cities across the country.Michael Kill, CEO — Night Time Industries Association
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