New figures show night time economy in slight decline
A new report by CGA by NIQ and the Night Time Industries Association (NTIA), the trade association representing the night time industry, shows that the total number of nightclubs, late-night bars and casinos fell by 2.8% to 2,264 venues as of December 2024.
This year-on-year fall pales in comparison to the 25.2% drop in venue numbers when comparing December 2024 to pre-covid levels of March 2020.
The 2.8% drop seen for 2024 can partly be explained by a growing consumer preference for visiting bars, pubs and restaurants earlier. Of NTIA members, 70% reported falling revenue for post-1am trading while only 47% detailed a drop for the 6pm-to-8pm period.
This growing preference for earlier dining and drinking is reflected in the 3.9% growth of the total number of venues for whom evenings form the majority of trading, to 16,004 in 2024. This growth is representative of around 12 net new opening per week.
This growth has been in part driven by sharp growth in themed bars, cocktail bars and craft bars of which the total number of venues has increased by 24.4%, 17.4% and 14.3% respectively.
The growth of themed bars, for example, Flight Club, the darts-themed bar, have come about due to a growing preference for experienced-led evenings, which 33% of consumers say they are visiting more often compared to a year ago, according to data from the report.
Reuben Pullan, CGA by NIQ’s senior insight consultant, does not diminish the adversity many in the sector are facing but sees room for optimism.
“The COVID crisis and relentless pressure on costs have created enormous challenges for hospitality businesses in the last five years, and late-night clubs and bars have been hit hardest of all,” he commented. “However, many other segments have been remarkably resilient, and the growth in new types of venues like competitive socialising bars shows the evening economy isn’t disappearing—it’s just changing. With the right support from government, night-time businesses can power not just hospitality but Britain’s economic growth and job creation.”
Despite the overall challenges facing night time venues, cities in Northern England and Scotland highlight the vibrancy of these cities' night time economy. For Liverpool, Leeds, Glasgow and Edinburgh, the total number of late-night venue rose by more than 4% in 2024.
To read the report by CGA by NIQ and NTIA you can find it here.
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