Next time you’re out for a walk, why not pop into that new restaurant or local shop you’ve been meaning to try? According to a recent study from the University of Florida, these less frequent visits to places like restaurants and sports facilities, rather than the usual trips to work or school, actually make a big difference in the economic health of neighborhoods.
The takeaway for city planners and individuals is clear: don’t overlook the less ordinary spots—they could be the key to a thriving local economy.
More exploratory
“We should be more exploratory in our own lives and welcome those unexpected trips,” the researchers explain.
Surprisingly, activities like dining at French or New American restaurants, playing golf, hockey, or soccer, and grabbing a bagel have a huge impact on a neighborhood’s economic success. Even though they make up just 2% of trips, they explain over 50% of the differences in economic outcomes between neighborhoods. Wang and his team didn’t anticipate that these leisure activities would have such a strong connection to local economic prosperity.
“Our findings also demonstrate impressive cross-city robustness,” the authors continue. “The top 10 predictive activities are transferable across cities, explaining a large amount of the variation in economic outcomes across Boston, Chicago, Miami, Washington, D.C., Detroit, and Philadelphia.”
Occasional outings
Those occasional outings are linked to exploratory behavior, where certain groups actively seek new opportunities, forge diverse connections, and even establish new businesses. By examining these sporadic activities, we’re essentially peering into both current and potential economic landscapes.
Meanwhile, engaging in hobby sports signals a propensity for risk-taking, which often translates into broader socioeconomic exploration. This could involve ventures such as entrepreneurship or expanding social networks to enhance economic prospects. Individuals inclined towards such activities tend to engage in a variety of economic pursuits, which correlates with better economic outcomes.
Most surprising was the revelation that trips to the workplace—traditionally seen as the hub of economic activity—didn’t strongly correlate with income or property values. Instead, it’s our leisure activities that truly drive the economic dynamism of our cities.