City of Hobart businesses that come alive after dark are having a significant impact on the local economy according to a new report released from the Council of Capital City Lord Mayors.
The independent research findings showed the City of Hobart supported a growth in night time economy turnover to $856m, up 10 per cent from last year, representing 5 per cent of the Hobart economy.
Thursday nights in Hobart has the highest number of consumer-facing businesses open in the City and is driven by a greater number of businesses of all types opening on Thursday not just retail, demonstrating a healthy broadening and expansion of NTE businesses.
Key take outs for Hobart:
- The number of Hobart businesses from the core night time economy sector also grew by 5 per cent to 644 in 2021-22, surpassing pre-pandemic levels by 17 per cent.
- Leisure and Entertainment establishments in particular have attracted spending with an impressive growth in turnover of 10 per cent to $194m, driven by increases in Creative and Performing Arts (+22 per cent/+$20m).
- The Retail and Accommodation sub-sectors faced challenges, with the number of establishments declining (-6 per cent and -10 per cent respectively) and employment dropping (-18 per cent and -21 per cent respectively), while turnover grew by +10 per cent for the year.
Hobart Lord Mayor Anna Reynolds said Council acknowledged it was still a challenging environment for the sector.
“From this report, we know how powerful Hobart’s night time economy can be for the city, but we acknowledge that we are in tough economic times,” Cr Reynolds said.
“The night time economy employs more than 7000 people, which makes up more than 14 per cent of Hobart’s total employment.
“The City of Hobart’s recently released City Economy Strategy identifies strengthening and supporting the night time economy to grow as a as a key action for our city’s prosperity.
“A robust night time economy will strengthen the vibrancy of our city and make it more resilient, productive, liveable and sustainable.”
The City also provides grant programs aimed at supporting businesses participating in the night time economy and through dedicated projects like those to expand outdoor dining in the city.
Former Chair of Melbourne’s Night Time Economy committee Penny Miles was recently in Hobart and is an expert in the after-dark industry sector.
“Night-time businesses and programs are a vital part of the wealth, health and vitality of our cities,” Ms Miles said.
“They pump money into the economy and provide an array of jobs, but they are more than this.
“The after-hours sector makes our cities hum. They provide experiences and activities to connect us, showcase civic culture and celebrate our unique identity to attract and keep visitors coming back for more.
“These latest figures speak to the tremendous opportunities but also the vulnerability of Hobart’s Night-time Economy.
“Now, more than ever, strategic care and cultivation is required to continue to rebuild, grow and see all facets of the ‘after dark’ industry flourishing.”
