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Edmonton hosts forum on the good and bad of late-night economies
If you want to see why Edmonton’s economy is bucking provincial trends, it may be best understood over a late-night drink.
Trends in the late-night bar industry saw massive gains between 2010-14, said John Rose, the city’s chief economist, at an international convention for the hospitality industry held in Edmonton this week.
“The city was under-served and this is, in part, the industry catching up to what the underlying demand really is,” said Rose.
A survey that reached out to 275 licensed establishments that are open past midnight showed an increase in occupants of 62 per cent, and an increase in money spent by those occupants of 89 per cent.
The impact on the economy was even greater – more than doubling over the four years – due in part to the money spent being circulated throughout the city’s economy.
Full Story (Edmonton Journal)