Factors Affecting Sustainable Development of Night-Time Economy: Evidence from Hanoi, Vietnam

In this study, we aimed to identify the factors affecting the night-time economy in Hanoi to achieve the sustainable development of this economy. We surveyed four selected groups of subjects: people, tourists, business establishments, and managers in Hanoi City, in which tourists were nationwide but have been on a night tour in Hanoi. We chose a nonrandom convenience sample. With the above sample size, the number of respondents was insufficient, so we selected districts with potential for night economic development including Hoan Kiem, Tay Ho, Dong Da, Nam Tu Liem, Ha Dong, and Gia Lam. We obtained 463 usable surveys. We processed and analyzed the data using SPSS Statistics 26.0 software. Our quantitative study included: (1) testing the suitability of the scale for the variables using Cronbach’s alpha, (2) analyzing the EFA factors to check the convergence of the observed variables and the separation between the independent variables, (3) checking the correlation to evaluate the problem of multicollinearity of the model; , and (4) performing regression analysis to evaluate the impact of the factors on night-time economic development in Hanoi City. The results showed that the variables positively impacted night-time economic development in Hanoi, but we found differences in the levels of their impact. Among the four factors, factor 3 (promotion and sharing) had the strongest impact on night-time economic development, followed by factor 2 (infrastructure and safety), factor 1 (institutions and environment), and factor 4 (nature and resources.)