05 Sep Night Tube Is Set to Boost London Economy by £1.5billion
Over the next decade, the Night Tube is forecast to contribute £1.5 billion to the Greater London economy, which is double the initial projections that were made before the service started.
Research conducted by London First has revealed that the UK capital has generated an additional £190 million from its Night Tube service last year, highlighting a £20 million increase since it launched in August 2016.
Since launching research indicates that the service has contributed millions more to the economy than what was expected.
Alongside 17 million passengers pushing the predictions, compared to the projected forecast of 14 million – a staggering three million more journeys than originally calculated.
Mark Wild, London Underground’s Managing Director, said the lines had given a “significant boost” to restaurants and bars and were “helping to transform London into a truly 24-hour city”.
Julian Bird, Chief Executive of the Society of London Theatre, said West End theatres “benefit hugely as it makes it easier for everyone, from audiences to performers and staff, to participate in the theatre scene”.
The report estimates the Night Tube will bring a £1.54 billion economic boost.