Theoretical framework of nightlife economy and practical implications for stakeholders and destination development

Paper examines theoretical aspects of the nightlife economy, and the complex nature of the impact that nightlife creates on the destination economy and image, as well as on the stakeholder's management, including local residents. Although COVID-19 significantly slowed the nightlife industry, the economic effects, including GDP, GVA and employment, are showing an important economic push for destination development. In order for the destination to fully implement the nightlife economy, the paper researches management aspects of intangible experience and explains customer behaviour, and the change in lifestyle patterns and leisure time. Analysis of academic and professional resources shows that proper management of destination development understands implementation of various policies and cross-sector cooperation, and therefore paper analyses stakeholders in the nightlife economy, providing insights to the roles and responsibilities. In the final part, authors are providing discussion on the critical success factors from the perspective of nightlife as a destination development catalyst.