Commissioned by the Night-Time Industries Association (NTIA), A Study of the Night-Time Economy, found in 2019, there were 2.92m jobs in the out-of-home leisure economy (OHLE) and in 2020, almost 600,000 were lost.
The night-time economy lost about 400,000 while the night-time cultural economy lost almost 90,000.
Important and timely work
The report stated this segment of the industry lost proportionally more jobs than other sector in the OHLE and the current estimated lost trade amount for March 2020 to June 2021 was £36bn.
It also revealed over the past 10 years, the night-time cultural economy generated 1.64% or £36.4bn of the UK’s gross domestic product in 2019.
NTIA boss Michael Kill said: “We are pleased to be able to present this important and timely piece of work, quantifying for the first time, the size of the night-time economy in the UK."
Worst possible time
He added: “Important, because in by 25-year career working in UK nightlife, it has always struck me as so odd that we did not have a proper accounting of the value of this important sector. [The] report puts that right and is long overdue.
"It’s timely because at this moment, governments in Scotland and Wales are pressing ahead with chaotic vaccine passport plans and the UK Government refuses to rule out their use in England.
“It is the worst possible time to introduce vaccine passports, which will further damage a sector essential to the economic recovery.
“It is crucial the Chancellor uses the upcoming Budget to support this beleaguered sector. We are calling for him to extend the 12.5% VAT on hospitality until 2024, include door sales in that reduced VAT rate, because the present system punishes nightclubs that rely on door sales rather than selling tickets, and for him to ensure there are not alcohol duty increases – our sector really cannot afford any additional burdens.”