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Night Tube set to deliver £77m economic boost to the capital

A new report has underlined the economic benefit that the new 24-hour Night Tube is set to unleash across the capital ahead of its imminent launch.

According to new research by the Centre for Economics and Business Research for London First and EY, the long-delayed service, which is to begin running from Friday 19 August, is expected to add £77m to London’s economy each year by 2029.

The report also outlines that an extra 2,200 jobs could be created, with 500 of those created directly to help run the service, as the expanded underground service fuels the city’s transition to a truly 24-hour economy.

Currently, London’s night-time economy directly supports almost 773,00 jobs, a total which could rise to 790k in just 15 years, and contributed somewhere between £17.7bn and £26.3bn in Gross Value Added (GVA) to the UK economy as a whole in 2014.

London’s first all-night Underground train timetable finally had its launch date confirmed by Mayor Sadiq Khan in May, after Boris Johnson’s previous grapples with rail unions over exactly how the service would be operated had run into numerous delays.

Initially servicing just the Central and Victoria lines, if it proves successful the Night Tube could also be rolled out for the Piccadilly, Jubilee and Northern lines by the autumn.

Speaking back in May when the launch was confirmed, Sadiq Khan said: “The Night Tube is absolutely vital to my plans to support and grow London’s night time economy - creating more jobs and opportunities for all Londoners.”

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