Australian nightclub industry is ‘set to fall’ in 2016
After the Australian nightlife industry experienced major legal crackdowns throughout 2015, not to mention a steady stream of news headlines involving drug-related incidents at Aussie music festivals, the future of late night raves is looking bleak for the land down under. A recent study issued by Yahoo Finance suggested the country’s nightclub industry was among the top five industries expected to see a significant decrease over the course of 2016.
As per Stoney Roads, industry revenue is projected to decline 2.9 percent due to heightened security measures and the decrease in alcohol consumption among millenials. Below is a chart displaying the lack of percentage growth among the ailing industries.
H/T: Stoney Roads