"The Government needs to recognise the economic, cultural, and community value of clubs and the wider night time economy."
Data shared by the Night Time Industries Association has revealed that one in five nightclubs in the UK have closed in the last three years.
The data reveals that a perfect storm of external factors has led to a dramatic drop in the number of nightclubs across the countries, with only 1,130 venues remaining.
Key independent businesses in the midlands and the north were hardest hit, with the establishments generating over £112billion in revenue per annum, playing an extremely significant role in the night time and general economy of the UK.
The organisation stated, "the culmination of pandemic debt, growing energy bills, workforce challenges, supply chain, increased insurance premiums, landlord pressures and product cost increases have created a perfect storm”.
CEO of NTIA, Michael Kill stated that, “Late night economy businesses were one of the quickest sectors to rebound during the financial crash many years ago, harbouring an abundance of resilience and entrepreneurial spirit.
“It’s without a doubt that these businesses, particularly nightclubs, have a huge part to play in the regeneration of high streets in towns and cities across the UK.”
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“Beyond the generation of footfall through trade, domestic and international visitors to clubs support the local economy in secondary and tertiary purchases through accommodation, travel and retail.
“It is also key to recognise that these businesses play a key part in people’s decision making process from choosing a University or College to influencing investment choices for businesses relocating or expanding, to accommodate for a young workforce.”
“Not forgetting the important part they play in people’s, physical, mental and social well being.”
He closed by stating, "The Government needs to recognise the economic, cultural, and community value of clubs and the wider night time economy. We must protect these businesses, using every means possible, and recognise their importance before it’s too late.”