Think about the last time you went out to a bar, club or music venue. For you it may just be a fun night out, but there are powerful economic benefits to our city too. These all are a part of Edmonton’s late night entertainment economy – a sector that creates thousands of jobs and generates millions of dollars in economic output.
Edmonton Nightlife = Big Business
A new report from Responsible Hospitality Edmonton shows that the total impact of the late-night economy was $1.3 billion when revenue, wages, salaries and the purchase of materials were included. This is significant increase from 686 million in 2010. (The City of Edmonton defines late-night establishments as venues where minors are prohibited).
Patrons spent nearly $883 million inside the venues in 2014. However, a night out often also includes additional spending. Did you purchase “going-out” clothes? Dine out? Take a taxi service? Attend a show or theatre before or afterwards? This spending accounts for another $27 million per month.
More than numbers
The nighttime economy offers more than good business – it also improves the city’s viability and appeal for both local residents and tourists.
Edmonton late night bars and restaurants are thriving entertainment destinations. In 2014, Edmonton was home to 327 late-night establishments – making up about 30 per cent of the city’s venues. They were visited by about 2.5 million customers that year.
It’s not just our city’s bars and clubs that benefit. The nightlife economy creates jobs for many first-time employees, students and part-time workers. In 2014, the late-night entertainment economy generated 11,719 full-time jobs.
Of course, it’s about more than just numbers. The late-night entertainment industry also contributes to the social and cultural fabric of Edmonton. Our city’s clubs, restaurants and bars are where people eat food, experience live music and take in new shows. It’s one of the reasons Edmonton is known as a fun place to live, with great venues to visit – day or night.
Partnering for success
The 2016 Economic Impact Assessment was carried out by the City of Edmonton in partnership between the Office of the Chief Economist and Responsible Hospitality Edmonton. All of the numbers are based on the 2014 tax year, with venues voluntarily participating in a survey in mid- to late August.