Sydney night economy losing 'billions'

Sydney is missing out on billions because of its underdeveloped night-time economy, according to a report.

Sydney CBD Source: AAP

Sydney is losing out on close to $16 billion a year due to its underdeveloped nigh-time economy, according to economic analysis.

The city's night-time economy, which is currently valued at $27 billion a year, could really be worth up to $43 billion, Deloitte Access Economics says in a report published by The Sydney Morning Herald.

It found Australia's night-time market represents 3.8 per cent of the domestic economy, compared to six per cent in the United Kingdom.