24 Hour Economy
24 HOUR ECONOMY
A 24-hour economy is an economic model whereby the economy adjusts to support 24-hour operations of businesses, factories, government services, restaurants, shops, healthcare delivery, banking and other services throughout the day and night, 24 hours a day 7 days in a week
It is very critical to note here that the policy of digitalization alone cannot ensure a 24-hour economy. Not all businesses and services operating on 24-hour economy uses digitalization.
As at now, a number of Private Companies and individuals operate 24-hour economy in Ghana especially Hotels, Transport, some Media Houses and Restaurants. The policy can be expanded to include the manufacturing and other industries.
Some of the benefits of a 24-hour economy are as follows:
1. Increases employment opportunities to the citizens especially the youth.
2. Enhance business-business opportunities and competitiveness.
3. Optimum utilization of resources especially idle resources in a company or an organization.
4. Increase spending in the economy
5. Boost tourism
6. Increases employees’ productivity
7. Reduces staffing costs to companies/organizations
8. Increases economies of scale for manufacturing industries
www.24houreconomy.org
Disclaimer: "The views expressed on this site are those of the contributors or columnists, and do not necessarily reflect 24houreconomy.org’s position. 24houreconomy.org will not be responsible or liable for any inaccurate or incorrect statements in the contributions or columns here."
Share On Social Media 888
Other Stories
Mahama’s 24-hour economy is crucial and timely for Ghana’s junk-economy
The need of policy framework for a 24-Hour economy in Ghana
Charting a new course for Ghana's Development:24-hour economy vision-Prince Ibrahim
Meaning, Operations and Impact of 24-Hour Policy on Ghana’s Economy
Benefits of 24-Hour Economy in Health Sector- the Perspective of a Health Professional in the UK
The 24-Hour Economy And Its Importance To Ghana’s Economic Growth
24-Hour economy to solve rising unemployment issues in Ghana:
24-HOUR ECONOMY
Economy
Related News
News
Akufo-Addo’s actions were so loud, Ghanaians couldn’t hear Bawumia’s policies- NPP MP
Read More
Mahama reiterates commitment to maintain opened door policy towards Minority parties
Read More
‘A difficult journey ahead’ – President-elect Mahama vows to rescue Ghana from the economic woes
Read More
It’s shameful Ghana can’t mobilise resources locally to purchase cocoa – Agric Economist
Read More
