The Council of Capital City Lord Mayors (CCCLM) is pleased to release its commissioned research into Australia’s Night Time Economy (NTE).
This report marks the first full year of data following the COVID-19 pandemic and reflects a solid recovery from the significant impacts of lockdowns and lockouts. Now in its 12th year, the Night Time Economy research continues to provide critical insights into the dynamics of urban life after dark.
The 2024 report provides insights into the night time economies of 15 Australian local government areas (LGAs), drawing upon Australian Bureau of Statistics data for the 2022-2023 financial year. The report also provides a snapshot of business activity data from July 2024, across each of these LGAs which reflects a continued upward trend in NTE activities. Key insights reveal that the number of Core NTE businesses stabilised during the 2022-2023 period, showing substantial growth in sales turnover, though this was offset by rising business expenses. Employment within the Core NTE has nearly returned to pre-pandemic levels, currently just 1% below.
The report highlights significant expansion in activities such as live music, night markets, and cultural events. These trends present new opportunities for local governments and businesses to collaborate on enhancing the appeal and safety of city centres during night-time hours.
Capital city councils are cautiously optimistic about these results. They remain mindful of ongoing economic challenges. On the demand side, inflationary pressures, including rising interest rates and energy costs, are impacting consumer spending across all segments. On the supply side, businesses face rising borrowing costs and labour supply constraints. Despite these hurdles, the recovery of the Night Time Economy is a positive sign of progress and resilience.
“This research is a valuable contribution to local governments’ efforts in supporting businesses operating at night,” said Kon Vatskalis, Lord Mayor of Darwin and CCCLM Chair for 2024. “The insights gained will inform future strategies and initiatives aimed at sustaining and enhancing the vibrancy of our cities after dark. The CCCLM remains committed to supporting the Night Time Economy, recognising its vital role in the social and economic fabric of Australia’s capital cities.”
The full 2024 Night Time Economy report is now available here.
About us:
*Note: Due to current caretaker periods, Victorian Councils and the ACT Government have not participated in this media release
The Council of Capital City Lord Mayors (CCCLM) consists of the Lord Mayors of Adelaide, Brisbane, Darwin, Hobart, Melbourne, Perth and Sydney, and the Chief Minister of the ACT.
www.lordmayors.org
Contact details:
Deborah Wilkinson Executive Director, CCCLM 0433 096 450 deborah.wilkinson@lordmayors.org
Verity Clough, City of Darwin 0466 207 090 verity.clough@darwin.nt.gov.au
Anna Edwards, Ingenium Research 0432 335 958 anna@ingeniumresearch.com.au