Nightlife industry to lose $271.6 billion due to COVID-19
Nightlife venues in over 50 countries close due over coronavitus fears
Due to the recent events related to the coronavirus (COVID-19) the International Nightlife Association, member of the United Nation’s World Tourism Organization (UNWTO), has assessed that nightlife venues in over 50 countries have closed their doors in order to curb the outbreak.
Thousands of nightlife venues around the world have announced closures due to the ongoing Coronavirus outbreak to respect the safety and well-being of staff and clients and also to avoid the spread of the virus. The countries affected by these measures are Portugal, Spain, France, Belgium, Italy, Germany, Denmark, Netherlands, Luxembourg, Czech Republic, Slovakia, Hungary, Poland, Austria, Romania, Montenegro, Bulgaria, Serbia, Lithuania, Albania, Croatia, Greece, Switzerland, Ukraine, Ireland, the United Kingdom, the United States of America, Canada, Costa Rica, Panama, Peru, Bolivia, Venezuela, Kenya, South Africa, Turkey, UAE, Lebanon, Saudi Arabia, China, Hong Kong, India, Indonesia, Myanmar and Australia, among others
Additionally, we have to take into account that venues are not the only ones in the music industry affected by the spread of the Coronavirus, some of the most important music festivals in the world have been also forced to cancel or postpone their events. Among these festivals include Miami’s Ultra Music Festival and Miami Music Week, France’s Tomorrowland Winter, California’s Coachella and Austria’s Snowbombing, to name a few.
These unfortunate events will have a highly negative repercussion on nightlife venue owners and workers as well as the global economy and tourism. The nightlife and bar industry generates great amounts of money to most countries worldwide and is also a big job creating industry. Only in New York City, one of the biggest cities affected, the total nightlife economic output is of $35.1 billion and employs 299,000 people yearly.
Consequently, and due to the restrictions in all the countries mentioned above, we have estimated that the nightlife industry worldwide is going to have a loss of $ 271.6 billion if the global crisis continues during the next 15 days. This number could increase if the crisis is extended and more countries become affected by the closures. The nightlife industry has never seen a crisis at this scale before.
The International Nightlife Association will give support to their member associations in order to ask for grants, tax deferral, suspension of mortgage and rent payments, among other aids to their respective governments otherwise the industry will not be able to get passed this health and economic crisis.
Live Streaming as a Temporary Alternative
Due to the impossibility of opening nightlife venues, some have decided to offer live streams with resident and world renowned DJ’s in order to keep clubbers entertained while they stay at home and promote customer loyalty while giving visibility to the venue and their brand.
Lastly, from the International Nightlife Association we ask all venues to follow safety measures and recommendations from their respective governing authorities. The INA also asks for all clubbers to follow recommendations, stay at home and avoid meeting with large groups of people that way when the moment is right the nightlife community can come together go out and enjoy nightlife in a safe manner.