1 minute read
Unlocking the Night-Time Economy
How Canterbury Bankstown Can Create New Opportunities for Growth and Development
As businesses and organisations continue to explore new ways to grow and innovate, the night-time economy (NTE) has emerged as an important area of opportunity. The NTE encompasses economic activity that takes place in the evening hours and has proven to be a significant contributor to the growth and vibrancy of a city.
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In Australia, the NTE covers a wide range of activities in town and city centers that take place between the hours of 6 pm to 6 am, including retail, culture & leisure, transport, and accommodation, as well as activities that support these sectors, such as security and supply chains.
One of the most significant benefits of the NTE is that it adds vibrancy and atmosphere to an area. This is especially important for local businesses, as it can attract new customers and increase sales. The NTE also creates social cohesion and inclusion, providing a space for people to gather and connect.
In addition, the NTE nurtures the artistic and creative industries. By supporting these industries, cities can attract and retain talented individuals who, in turn, help drive innovation and economic growth. This can also help differentiate Canterbury Bankstown as a unique and culturally rich destination, attracting tourists and visitors to the area.
By promoting and supporting the NTE, Canterbury Bankstown can leverage these benefits and create new opportunities for growth and development. This includes developing new events and activities to attract visitors, supporting local businesses that operate during evening hours, and investing in infrastructure and transportation to support the NTE.
In conclusion, the night-time economy is a critical component of a thriving city, and Canterbury Bankstown has the potential to capitalize on this opportunity. By embracing and supporting the NTE, we can create a vibrant and dynamic community that attracts visitors, supports local businesses, and fosters innovation and growth.
Let's make it happen.
