SHOPPING and the night-time economy are worth a massive £5.5billion a year to Glasgow according to a new report.
Between them, they are responsible for more than 33,000 full-time jobs – over a fifth of the entire workforce of the city centre.
The study by Glasgow Caledonian University’s Moffat Centre is the first to look at the value of pubs, clubs, restaurants, fitness centres, cinemas and theatres.
It was commissioned by Glasgow Chamber of Commerce on behalf of the city council.
The findings of the survey will be used to help develop a five year plan aimed at ensuring Glasgow remains one of the top city centres and tourism destinations in Europe.
Research, which was carried out over the past two years, included interviews with more than 60 companies operating in the two sectors and with local people as well as national and international visitors.
It found the night-time economy generates £2.16b a year for the city, supporting 16,200 full-time jobs while the retail sector generates more than £3.3b and supports 17,000 full-time jobs.
Experts highlight the importance of the development of Finnieston and the growing number of 24-hour gyms and say city bosses should look at whether to extend licensing hours and the operating hours of public transport
Professor John Lennon, director of the Moffat Centre said: “This is certainly the first time such a study has been carried out for the night time economy which we have defined as activity from 6pm until 6am.
“It is also the most recent and detailed look at the retail sector, covering the city’s seven day operation.
“The sheer scale of the jobs and revenue contribution of retail and the night time economy will come as a surprise to many and something worthy of note for the city centre strategy
“It is well known Glasgow is a leading retail centre but again, the extent of the figures remains an eye-opener.
“Some interesting new information came to light. While we knew our restaurants, bars and clubs were major contributors to the night-time economy, nobody has considered the importance of the growing number of fitness establishments.
“We discovered there are now more than 20 city centre gyms, the vast majority of which are open 24 hours a day.
“This tells us there are a growing number of people working in the city centre’s service industries with working hours that mean they are using gyms in the hours after they finish their shifts.”
Professor Lennon added: “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.”
For the purposes of the research, the city centre included areas such as Finnieston and the West End.
Mr Lennon said: "The Finnieston phenomenon has been remarkable. It's an interesting microcosm of how an offer can quickly become a recognised destination comprising bars and restaurants on the back of the spectacular success of the SSE Hydro.”
Glasgow Chamber of Commerce chief executive Stuart Patrick said: "This is an important piece of work for the city centre and I have no doubt that it will contribute greatly to the understanding of the importance of these two sectors and how they can add to Glasgow's economic strategy."
City council leader Frank McAveety said: “This is a very welcome and important study of these vital parts of the city’s economy.
“This research helps to illustrate the changing patterns of business in the city centre, Finnieston and the West End. Understanding the contribution and role of these sectors can help the council and partners in our planning now and in the years to come.”
IN the past the Finnieston area of Glasgow was known for its warehouses and docks with pubs mainly frequented by the hard working men from the shipyards.
It was a tight community but not necessarily a part of town revellers would choose for a night out.
But following decades of post industrial decline, it has transformed itself into one of the most hip destinations in the city.
The opening of the Hydro in September has helped spark regeneration with thousands of people travelling through Finnieston to get to the venue.
Last year, the entertainment complex handled more than one million tickets making it the third busiest music arena in the world.
That has resulted in an influx of interesting bars and restaurants as well as artists’ studios, craft beers and artisan bakers.
For visitors to the Hydro, it an ideal place to have a drink or a bite to eat before or after a gig and the bars and restaurants are proving so popular businesses are now clamouring for a piece of the action.
Finnieston is also helped as it is a link between the city centre and the West End but today, instead of scurrying through the once rundown area, people are stopping and enjoying what it now has to offer.
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