The nuts and bolts of a 24-hour economy :: Mmegi Online

As the country forges a path towards a ‘round the clock’ operating economy, little has been said about the nuts of infrastructure, tax and policy frameworks that have to fit in with the bolts of regulation and financing needed to make this dream a reality, writes TIMOTHY LEWANIKA

Globally, the night-time economy is a multi-billion-dollar engine of activity, supporting millions of jobs across transport, hospitality, healthcare, energy, security, entertainment and urban services. Its appeal lies in its simplicity: extend trading hours, increase labour shifts, and unlock more spending. But the glossy promise masks a complex architecture.

The World Economic Forum (WEF) estimates that the global 24-hour economy stretching from varying sectors such as logistics, travel, manufacturing, hospitality will grow from roughly US$9.4 billion in 2024 to nearly US$25 billion by 2035. In several advanced markets, night-time activity contributes as much as four percent of GDP.

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ECONOMY

The nuts and bolts of a 24-hour economy

As the country forges a path towards a ‘round the clock’ operating economy, little has been said about the nuts of infrastructure, tax and policy frameworks that have to fit in with the bolts of regulation and financing needed to make this dream a reality, writes TIMOTHY LEWANIKA

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