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On weekends, Boston temporarily tried late-night train service than ran until 2:30. But when it lost too much money, they shut it down. Meanwhile, New York has an Office of Night Life with a $300,000 budget. The New York group connects the nightlife industry and city government. It’s supposed to make sure that regulations are observed.
None of these groups seems to get it. Night life can energize an economy. We just need to look at Australia.
Nurturing the Night Time Economy
Cities mostly are designed for the daytime economy.
There’s lots though that could be happening from 6 p.m. to 6 a.m. Done right, a night time economy creates jobs and revenue. The keys are talent, space, and policy. The talent comes from the local community. The space refers to the activities. And the policy is what government does.
Government can make things work. It can be sure there is dependable transportation. It can strategically disperse licenses. It can design public spaces that invite pedestrian traffic. And, it can preserve safety while minimizing police presence.
The message? Urban designers can think of the city as a 24/7 environment to optimize its resources.
Our Bottom Line: Australia’s Night Time Economy
A group of researchers looked at 88 “local government areas” in Australia to confirm the value of the night time economy. They started with the businesses that consumers patronize. Called the core, those firms primarily provide food, drink, and entertainment.
You can see below that food is the biggest contributor:
However, there is much more than the core. Including an entire supply chain and other support services, there are 374,835 establishments in Australia’s NTE. Employing three million people, the group grew faster than the total economy:
Where does this take us? Back to what Boston and NYC need to know about the fueling their economic growth.
My sources and more: I enjoyed hearing about Australia’s night time economy in this podcast. Next, do read “Measuring the Australian Night Time Economy 2016-2017.” for the research. Finally, these articles here, here, and here, show what cities have done wrong.
Our featured image is from Pixabay.
