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What can be done to boost Cape Town CBD's night-time economy?

16 October 2019 4:27 PM
Tags:
Economy
Cape Town
CBD
NTE
nighttime economy
A study is being planned to determine potential outlets and job-creation opportunities that Cape Town's night-time economy offers.

Experts and city officials are looking into how best to boost and maximise Cape Town's night economy.

It's part of ongoing global efforts to grow the night-time economies in some of the world’s most prominent cities.

For example, in New York, the night-time economy contributes $10bn to the city’s economy and in Sydney, it accounts for about 10%-16% of the CBD employment.

UCT property economist Francois Viruly says the definition of night-time economy can be hard to pin down.

There's this evening economy that takes us from 6pm in the evening to about 10 at night and then you have the late-night economy that carries on the whole night.

Francois Viruly, Property economist in The Urban Real Estate Research Unit - University of Cape Town 

He says it's important not to see the night-time economy as exclusively leisure-based.

There are a number of different businesses that are not directly in the bars and the leisure industry that are active at night.

Francois Viruly, Property economist in The Urban Real Estate Research Unit - University of Cape Town 

Listen to the full interview below:


16 October 2019 4:27 PM
Tags:
Economy
Cape Town
CBD
NTE
nighttime economy

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