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Slide 3 Late Night Economy in Establishments or 23% of all Licensed Establishments 69,865 Licensed Seats or 27% of all Licensed Seats The bulk of late night establishments are classed as Bar/Lounge Nightclub 26% Bar/Lounge 68% Other 4% Bar/Lounge/ Nightclub 2%
Citation preview
The Economic Impact of Edmonton’s Late Night
Economy
International Responsible Hospitality Conference
May 22, 2014
Slide 2
AgendaWhat Is the Late Night Economy?
• Size and location• Expenditures
Economic Impacts• Expenditures• Employment Impacts• GDP Impact
Other Benefits• Ancillary Spending• Labour Attraction and Retention
Slide 3
Late Night Economy in 2010
• 235 Establishments or 23% of all Licensed Establishments
• 69,865 Licensed Seats or 27% of all Licensed Seats
• The bulk of late night establishments are classed as Bar/Lounge
Establishments by Type
Nightclub26%
Bar/Lounge68%
Other4%
Bar/Lounge/Nightclub
2%
Slide 4
Where Late-Night Establishments Cluster
Slide 5
Expenditures of Late-Night Establishment Expenditures
Utilities2%
Promotional10%
Marketing5%
Municipal Costs
2%
Occupancy Costs
9%
Other4%
General Admin.
5% Wages & Salaries
31%
Food & Beverage
24%Music &
Entertainment3%
Direct Operating
5%Total Spending in 2010 $467 Million
Slide 6
Late-Night Impacts in 2010
Category Total Impact
Economic Output $686 Million
Wages and Salaries $215 Million
Returns to Capital $84 Million
Full-Time Equivalent Jobs 5,807
Slide 7
Solid Growth in Establishments and Seats
0
50
100
150
200
250
300
350
2007 2008 2009 2010 2011 2012 20130
20,000
40,000
60,000
80,000
100,000
120,000
Establishments Seats (Right Scale)
Slide 8
Implications of Growth Since 2010
• Total expenditures in the range of $670 million for 2013.
• Impact on the economy in the order of $900 million for 2013.
• Generating full-time equivalent jobs of approximately 7,700 in 2013.
Slide 9
Other Major Benefits
• A major source of entry level positions for students and young people.– 72% of positions are part-time of which 60% are held
by students.• Compliments special events such as the
International Jazz Festival and Fringe Festival.• Significant ancillary impacts via patron spending
on retail, food, transportation and other sectors.• Important factor in attracting and retaining highly
skilled and mobile labour.
Slide 10
Patron Survey
• Survey of 1145 individuals.• 72% between the age of 18 and 30.
– Scanning data reported average age of 24.76 to 27.3 years for males and 23.4 to 25.4 years for females
• 57% of those surveyed were male.– Scanning data report 61% males
Slide 11
Average Monthly Ancillary Expenditures
Food & Restaurants
15%
Other Entertainment
39%Personal Care17%
Clothing & Accessories
20%
Transit & Taxi9%
Total Average $318.72 per month
Slide 12
Ancillary Spending
• Scanning data for the Jasper and Whyte avenue clusters indicated approximately 85,000 individual visits a month.
• Late-night activity in these two clusters is associated with ancillary spending of approximately $27 million per month.
Slide 13
Edmonton’s Labour Market Powers Ahead
• Outstanding growth in employment, labour force and population.
• Current growth is only possible with strong net in-migration.
• Late-night economy is a key factor in attracting and retaining labour.
% Annual Growth to April 2014
0 1 2 3 4 5 6
Work Age Pop Labour Force Employment
Source: Statistics Canada
Slide 14
Q & A
John RoseChief EconomistFinancial Services and Utilities5th Floor, Chancery HallEdmonton, Alberta, T5J 2C3(780) 496-6070john.rose@edmonton.ca
Updates and newsletter available at:www.edmonton.ca/economicnews
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