The Night Time Industries Association (NTIA) has released a report gauging COVID-19‘s economic impact on nightlife. One of the report’s numerous findings concludes that 86,000 jobs were lost due to the pandemic.
Titled “A Study of the Night Time Economy,” the report aims to “fully understand, for the first time, the economic contribution and significance of the night time cultural economy (NTCE) to the U.K. economy.” Its definition of “night time cultural economy” includes “sub-sectors within the OHLE (Out of Home Leisure Economy) that primarily serve the evening or night time consumer – i.e., 6:00 PM to 6:00 AM.”
The NTIA’s findings show that the U.K.’s NTCE “has shown a steady and sustained contribution to the U.K.’s gross domestic product (GDP), generating 1.64% or £36.4 billion in 2019.” The report goes on to write that the “NTCE is a significant and growing employment sector, supporting approximately 425,000 U.K. jobs and 38,000 businesses in 2018.”
Diving into COVID-19’s impact, the NTIA reports that the “NTCE has lost proportionally more than other sectors in the OHLE. Overall the current estimate of lost trade for March 2020 to June 2021 is £36 billion.” This leads them to conclude that, thanks to the pandemic, “an estimated loss of 589,000 jobs in the OHLE. In the night time economy an estimated 393k were lost. The night time cultural economy has lost an estimated 86k jobs.”
Read the entire Night Time Industries Association report here.