NTIA: 'Government must recognise economic, cultural and community value of night time economy'
It comes after Labour’s Shadow Levelling Up Secretary, Lisa Nandy, said that reopening once-loved nightclubs in struggling town and city centres could help to revive the high streets and boost the economy, in an interview with Times Radio.
“Every single town has lost a nightclub they feel very strongly about, that was part of our history and our heritage,” she said.
One in three nightclubs in the UK have closed their doors in the past decade, as changing drinking and socialising habits, cheap alcohol deals in supermarkets, and the impact of the pandemic has reduced their viability to operate.
In 2010 there were 10,040 licensed clubs in the UK, according to analysis of ONS data by software companies Stampede and Storekit, earlier this year.
By 2021 that had fallen to just under 7,000 and could reach 5,000 in the not-too-distant future if the pattern of closures over the past 10 years continues.
Responding to Nandy's comments, Michael Kill, CEO of the NTIA, said: “Hospitality and the late night economy were one of the quickest industries to rebound during the financial crash many years ago, harbouring an abundance of resilience and entrepreneurial spirit.
“It’s without a doubt that these businesses have a huge part to play in the regeneration of high streets in towns and cities across the UK.
“Beyond the generation of footfall through trade, the night time economy forms a key part of people's decision making process when choosing a University or College as well as influencing investment choices for businesses relocating or expanding, to accommodate for a young workforce.
“Not forgetting the important part they play in people's, physical, mental and social well being.
“The Government needs to recognise the economic, cultural, and community value of the night time economy sector. The key to this is the ability to expand trade - they must look at opportunities to deregulate, create easements within planning and licensing as well as streamlining cost and process to allow for efficient growth and investment.”
