1、 2 FOREWORD Michael Kill CEO Night Time Industries Association “This benchmark report defines the true journey this industry has been on over the last few years,and the profound impact on the entire nightlife ecosystem across the UK.There is now little doubt that the Night Time Cultural Economy,SMEs

2、 and independent businesses were amongst the hardest hit during the pandemic,and beyond.These businesses make up over 70%of our industry,and are so important to economic and cultural recovery,as well as social cohesion,mental health and wellbeing,nightlife tourism and the survival of high streets wi

3、thin towns and cities across the country.This past year has been incredibly tough for the vast majority of hospitality and night time economy businesses.The legacy of the pandemic and the current cost inflation impact,with businesses seeing an increase in operating costs of up to 40%,coupled with co

4、nsumers having less disposable income,and market limitations to increasing prices.As we head further into a cost of living crisis,despite the bounce back in jobs and firm numbers,consumer spend,sector income,productivity and profitability,continue to struggle.My hope is that this report will be clos

5、ely considered by policymakers as they continue to chart the UK economys recovery from multiple crises.After the 2008 economic crisis,it was hospitality and night time economy businesses that led the recovery.The same can be true of the current economic crisis,where the night time economy will once

6、again need to be at the heart of the recovery.Jeff Smith MP Co-Chair of the All-Party Parliamentary Group for the Night Time Economy At the time of writing,its been three years since rumours of a virus moving west to Europe and the UK started to circulate.Within a few months,Covid had profoundly imp