New research released to mark the second anniversary of the start of the Night Tube in the capital has revealed a greater impact to the economy than initially predicted.
Since its inception in 2017/17, the use and popularity of this service has increased quickly, contributing millions more to the economy than projected.
The report, compiled by London First and EY, revealed that, in 2017/18, the Night Tube generated an extra £190 million to the economy of the capital.
This is almost £20 million up from the £171 million recorded after the service’s first year of operation.
It reflects the rise in users of the Night Tube since it began; in 2016/17, 7.8 million customers used the service, whereas the second year saw this increase to 8.7 million.
In a wider context, the long term economic boost that the Night Tube is expected to provide the capital is higher than initially predicted.
The report showed that earlier projections that the service will contribute £1.38 billion to the wider London economy over the next 10 years are lower than the latest estimations that it will contribute £1.54 billion over the next decade.
This more than doubles the projections made before the service was launched, and with more than 3,900 jobs supported by the Night Tube, this has enjoyed a rise of 8.5% from last year.
The Mayor of London, Sadiq Khan, could not hide his delight.
He said: “I am delighted to have delivered London’s first ever Night Tube for Londoners.
“Its first two years have been an even bigger success than we predicted – allowing more people to get home quickly and safely after a night shift, or night out with friends, but also providing a huge boost to London’s night-time economy.
“In the past year, we have also launched the Night Overground and I look forward to extending the service to more Underground lines to help even more people travel around our city more safely and quickly.”
The success of the service is set to continue, meaning more trains will feasibly be needed, more maintenance, and greater use of technology. All of this spells good news for the industry.