Impact study commissioned by the Glasgow Chamber of Commerce on behalf of the City Council
A research study by GCU’s Moffat Centre for Travel and Tourism Business Development has revealed the overwhelming value of the night-time and retail economy sectors. Collectively they contribute £5.46 billion to the economy of Scotland's largest city, and generate more than 33,000 full-time jobs.
Glasgow Chamber of Commerce commissioned the research on behalf of the City Council, which will now feed into the five-year City Centre Strategy aimed at ensuring Glasgow remains one of the top city centres and urban tourism destinations in Europe.
The Moffat Centre study found the night-time economy – defined as activity from 6pm until 6am - generates £2.16 billion per annum for the city, supporting 16,600 full-time jobs, whilst the retail sector generates more than £3.3 billion and supports 17,000 full-time jobs. Combined employment from the sectors represent over a fifth of the City Centre working population.
As well as major night-time contributors such as restaurants, bars and clubs, the study highlights a growing number of 24-hour city centre gyms.
The analysis of the city's seven-day operation covered the strategy’s nine districts and also incorporated areas including the West End and Finnieston, the latter having quickly developed as a destination on the back of the success of the SSE Hydro.
Professor John Lennon, Director of the Moffat Centre, said: “The sheer scale of the jobs and revenue contribution of these sectors are an eye-opener and something worthy of note for the City Centre Strategy. Competitor cities like London and Manchester are actively developing a 24-hour model of operation which is increasingly expected – we have to look hard at our licensing and transport infrastructure and ask ourselves can we seriously compete?”
Glasgow Chamber of Commerce Chief Executive Stuart Patrick said: “This is an important piece of work for the city centre and I congratulate John Lennon and the Moffat Centre for the depth of the research. I have no doubt that it will contribute greatly to the understanding of the importance of these two sectors and how they can contribute greatly to Glasgow's economic strategy.”