New figures have indicated that businesses served by London’s night tube have seen an 18% sales boost since it launched.
Analysis of card transaction data by Worldpay showed nearly one third of late-night spending in the capital was focussed within the borough of Westminster, where Central and Victoria lines intersect.
Businesses based further out along the tube lines have also benefited from the late-night tube services. Spending around Stratford tube station (Central Line) has jumped by 40%, and the number of transactions processed by Worldpay in Walthamstow (Victoria Line) has more than doubled since the launch.
Worldpay said: “As expected, spending growth in areas not immediately served by the night tube has been far more modest. In particular hospitality businesses in iconic night spot Camden will be counting down the days until the launch of the Northern Line night tube service in November, having seen takings remain flat over the past month.
Commenting on the findings, Dave Hobday, Managing Director of Worldpay UK said: “With news about the demise of London’s nightlife dominating the headlines, we finally have a positive story to tell to the capital’s businesses. The initial impact of the night tube on the capital’s late night economy is encouraging supports the case for further roll out so that businesses across the city can harness the opportunities that improved infrastructure brings.”
