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Night Time Economy loses £3.5 Billion Due to Strikes and Could Double If Strike Action Persists into the Festive Season

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Michael Kill CEO NTIA says:

“We are deeply frustrated at the recent announcement of further rail action by the RMT and ASLEF. The continued disruptions to the rail services has caused immense damage to the hospitality, events and night-time economy sectors, resulting in staggering losses of up to 3.5 billion pounds. This situation is simply unsustainable, and we urge all parties involved to come to a resolution swiftly.”

“The impact of these ongoing disruptions on our industry has been severe, and it cannot continue unchecked. As the transport committee rightly points out, our industries are among the hardest-hit, but we must concentrate our collective efforts on finding a resolution that ensures the vitality of these sectors.”

“We are particularly concerned about the timing of these disruptions, as we enter what is traditionally known as the “golden quarter.”between October & December. This period is crucial for our businesses, as a significant portion of our annual revenue is generated during this time, and it helps sustain us through the slower months in early 2024. The losses incurred due to the rail disruptions threaten the livelihoods of countless individuals and businesses within our industry, with many worried that the continued industrial action could double the current losses to the sector.”

“We call upon all parties involved in this dispute to prioritise the well-being of the night-time economy and hospitality sectors. We understand the importance of fair labour practices and the rights of workers, but we also emphasise the need for balance and compromise. The current situation is detrimental to everyone involved, and it is in the best interest of our nation’s economy to resolve these issues promptly.”

The Night Time Industries Association is ready and willing to engage in constructive dialogue to help facilitate a solution that minimises further damage to our sector. Our members have already faced numerous challenges in recent years, and we cannot afford to shoulder these additional losses.

In conclusion, the NTIA implore all stakeholders to recognise the urgency of this matter and work together toward a resolution that allows our industries to thrive once again. The NTIA remain committed to finding a way forward that supports both workers and businesses within the night-time economy and hospitality sectors.

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