Night Tube provides economic boost

The Mayor of London, Sadiq Khan, says economic and passenger numbers for the first year far exceeded predictions, with numbers released showing nearly eight million journeys, and a boost to London’s economy of £171m.

Research by London First and EY has also predicted that the Night Tube will be even more beneficial to the economy than previously forecast, with latest estimates indicating that over the next 30 years it will add £138m of value to London’s economy every year. This is significantly more than the £77m a year previously forecast. The journey numbers exceeded expectations by around 15%.

The Mayor of London, Sadiq Khan, said: “The Night Tube has been a huge success ever since the first train rolled out of Brixton station 12 months ago. It’s significantly boosted our night-time economy, supported thousands of jobs and helped millions of people travel around our city at night safer and quicker than ever before”.

In the future, the Night Tube will be extended to parts of the, Circle, District, Hammersmith & City and Metropolitan lines once the modernisation of their signalling system is completed in 2023.

Caroline Artis, Senior London Partner at EY, said: “London’s Night Tube has been a stand-out success and the move towards 24-hour transport is a key step in transforming the global view of London from old world, where transport stops at midnight, to new world where the city never sleeps. London’s 24-hour economy has also made it more attractive to foreign investors, with EY’s 2016 Attractiveness Survey ranking London as the best city for foreign direct investment in Europe.”

John Dickie, director of strategy and policy at London First, said: “The Night Tube is delivering a great boost for business and for all the Londoners and visitors who are making the most of the service. We need to build on this success with a clear approach for licensing and planning, freight and road use – helping to make London a truly 24-hour city and delivering jobs and billions of pounds for the economy.”

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