With the increase in competitiveness and indelible imprints of innovation and technology, there is a simultaneous rise in the growth, resilience and inclusivity among global economies. There is an emerging school of thought that is reevaluating how and when urban communities and areas should function and perform. The concept of a 24-hour economy is based on the belief that “cities do not sleep”.
This new thinking questions the existing patterns and functioning of work and time, yet opens doors to possibilities for inclusion, innovation and equity across the 24-hour cycle. For the 24-hour economy to thrive and grow sustainably, city planning authorities and governments must prioritise safety, mobility and cultural vigilance after the sun sets on the world.
For some years, this emerging society has been gaining limelight; the pandemic has reshaped perceptions, altered schedules, redefined people movement and accelerated the societal preference for flexibility and decentralisation.
Some people perceive the 24-hour economy as being all about nightlife, but this is a hollow and limited view. We all know time is valuable and now “Time” is branded as a strategic resource that can be leveraged to create inclusive, dynamic and vibrant economies serving diverse sections of communities. The Pandemic exposed the inflexibility and rigidity of urban systems and infrastructure, and shifted global perceptions and perspectives of work, life and well-being.
In the UK, the 24-hour economy contributed an estimated 4.1% to GDP in 2022, supporting 1,000,000 jobs. In the US, it has contributed 2.5% to 3% of the local GDP of New York State and created 300,000 jobs. In Australia, Brisbane has experienced the fastest growth in terms of significant value, reaching $6.2 billion.
This growth is not only in the Global North but also in Global South countries, like Ghana, which has seen a 31% real GDP increase. International night or nocturnal tourism is projected to increase from $9.4 billion in 2024 to $24.8 billion in 2035 at an annual growth rate of roughly 9.2% CAGR.
The Global North is enhancing its revenue, while the Global South is accelerating economic growth with active participation in the 24-hour Economy. With the emergence of this new economy, 80 cities worldwide have also established governance and control to ensure the sustainable growth of the 24-hour economy.
Amsterdam in the Netherlands has introduced the world's first night mayor to ensure residents' safety and economic development. Tokyo, Japan, has a 24-hour transit and entertainment district. In Vietnam, there is a night economy project to promote tourism, culture and shopping activities till 6:00 AM. According to the World Economic Forum (WEF), Argentina, Spain, Poland and Germany have participated actively in the 2025 Night Time Economy Summit in the UK.
Today, 80 cities across 60 countries have a Night Mayor or Night Director to oversee safety, policy, security and cultural programming. New York in the US created an Office of Nightlife (ONL) in 2017 to secure and protect the city that never sleeps.
There is a significant shift in the concept of leisure, as well as in in-person health consumption and well-being awareness. Barge, Italy, was the first to introduce a 24-hour childcare service, reshaping knowledge-based roles.
The nighttime economy is primarily driven by the hospitality, logistics, healthcare and retail sectors. Technological tools are not replacing these industries; instead, they are benefitting from them, ushering in a new era of possibilities in the 24-hour economy.
Disruptions to traditional 9:00 to 5:00 work schedules and technological advancements are recalibrating the urban clock. The 24-hour economy presents a strategic growth opportunity for many businesses, enabling them to cater to diverse communities and explore new markets.
However, this shift also presents challenges related to operational models, resource utilisation, staffing, pricing and logistics, which must be managed for the sustainable growth of the 24-hour economy.
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