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May 22, 2014

The Economic Impact of Edmonton’s Late Night Economy International Responsible Hospitality Conference. May 22, 2014. Agenda. What Is the Late Night Economy? Size and location Expenditures Economic Impacts Expenditures Employment Impacts GDP Impact Other Benefits Ancillary Spending

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May 22, 2014

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  1. The Economic Impact of Edmonton’s Late Night EconomyInternational Responsible Hospitality Conference May 22, 2014

  2. Agenda What Is the Late Night Economy? Size and location Expenditures Economic Impacts Expenditures Employment Impacts GDP Impact Other Benefits Ancillary Spending Labour Attraction and Retention

  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 Other 4% Nightclub 26% Bar/Lounge/ Nightclub 2% Bar/Lounge 68%

  4. Where Late-Night Establishments Cluster

  5. Expenditures of Late-Night Establishment Expenditures Total Spending in 2010 $467 Million

  6. Late-Night Impacts in 2010

  7. Solid Growth in Establishments and Seats

  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.

  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.

  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

  11. Average Monthly Ancillary Expenditures Total Average $318.72 per month

  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.

  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. Source: Statistics Canada

  14. Q & A John Rose Chief Economist Financial Services and Utilities 5th Floor, Chancery Hall Edmonton, Alberta, T5J 2C3 (780) 496-6070 john.rose@edmonton.ca Updates and newsletter available at: www.edmonton.ca/economicnews

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