Night Life Economy and Its Impact on Revenue, Employment, and Togetherness

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Night Life Economy 1
Introduction
Basically, night life economy implies an economy that operates twenty fours. The impact
of the night life economy has been positive in terms of revenue, employment and togetherness.
Jobs
According to the Council of Capital city Lord Mayor’s report, the Australian night
economy has increased employment opportunities. Notably, the night economy has created over
a million employment opportunities for the Australian economy which accounts for 8.7 % of
Australian labor participation (Potvin 2016). Recently, the year 2016-2017, the Night economy
has contributed to 17 percent of the supply sector which has employed 3 million Australians that
is estimated to be a 1.9 percent increase in employment index in the year 2016.In addition to
increased employment avenues, the nightlife economy has increased revenue to the Australian
gross domestic product hence boosting the economic rate of growth in the country (Ingenium
Research 2018).
Revenue increase
Specifically, a 20 % increase in revenue was recorded in the year 2013-14 to which the
Australian economy grew by 14 %.In terms of revenue, the nightlife economy contributed
715billion USD in the year 2016 as depicted in the image below (Ingenium Research 2018).
Also, the nightlife economy has promoted the diversification and commercialization of leisure
activities. Such activities like bowling, food festivals have alleviated rush hour congestion and
created revenue in itself. Also, nightlife economies enhance security to the extent that
restaurants, shops and other avenues of leisure operate for longer hours(through the night). Such