August 16, 2016
On 19th August London will welcome the new 24hr tube for late-night workers, tourist and party-goers. The difference to quality of life and local economy is expected to be significant. With the Victoria and Central lines starting the new era and other lines to follow in the Autumn, London First in association with EY has drawn together a report on economic predictions which you can read here.
As London welcomes the launch of its new Night Tube, the city’s 24-hour economy is booming. New analysis for London First in association with EY shows the dramatic transformation occurring as London works later, longer and smarter. The analysis shows businesses across London and across industries working through the night and bringing jobs and prosperity to the city and country.
The findings are striking:
The analysis also takes a look at the impact the Night Tube will have on London’s economy.
At a time of economic uncertainty – particularly following the Brexit vote – this is a welcome boost to London’s economy, but it should be seen in the context of the £40 billion economic benefits already delivered by the general move we have seen to a 24-hour economy in London.
To support that move – and the additional £2 billion or more a year it will bring in future – the analysis suggests that London needs a holistic strategy that works for all its industries. London should therefore welcome its new Night Tube. Equally, though, we must ensure it’s not the final stop in the journey to support the city’s 24-hour businesses.