In my personal experience, it solely depends on the population and size of the city.
I live near 2 cities a large student population in both.
Many students return home at the weekends so nightclubs etc. are busier throughout the week with a student population and student bars
The weekend crowd will mainly be tourists and locals and will be quite busy everywhere depending on the time of the year.
Thursday nights are more likely to be a mix of students and locals and in my own experience, this is the night work colleagues might go out to bars so they will all be busier but not as busy as the Friday/Saturday night. (Since we have a drinking culture)
Native German here, so I’ll stick with what I know for sure:
For Germany, student clubs tend to be crowded at Wednesdays more then they are on Thursdays. For students, a business meeting early in the morning would be rather uncomfortable, but not totally unusual. A work-related Dinner for people 18-25y.o. would probably more comfortable on Thursday than Wednesday.
For older coworkers, business-related meetings even early in the morning are quite common, no matter the day of the week. Typically, a business day starts at 8 in the morning (depends on the company) and that’s also when the first meetings can be held. Dinners take place mostly Monday, Tuesday or Thursday, as Wednesday afternoon/evening is often held open for worker union meetings and other work-related committees.
I’m French and in student areas, Thursday is very much a party day: students who live away from their college often go back to their parents on the weekend and leave on Friday night, so they party a lot on Thursday night. It is popular enough for professors to know that Friday morning is a bad day to place a complicated lecture.
The same culture exists out of college: a lot of bars, nightclubs et ceatera have special events on Thursday (extended happy hour, cheaper drinks). Young salarymen also partake in Thursday parties.
Having lived in Switzerland, I know that it is also a thing there. I would guess that by extension, Germany also loves Thursday night parties.
My experience in Spain is quite the opposite. Many undergraduate study programs do not have lectures on Fridays, or they do have lectures but the students are more relaxed, and Thursdays have become a popular partying day among students. Even the word juernes has been created to refer to this: it is a mixture between "jueves" (Thursday) and "viernes" (Friday). Here is an article that shows how popular Thursday partying is among students.
However, when people get older and get a job, they do not have so much free time on Friday mornings anymore. As "party" in Spain is usually assumed to mean "stay out very late", people above 25 are less likely to "party" on a Thursday. In addition, business dinners are not usually on Fridays, because people usually have private plans on Fridays. A business dinner on Friday would have less attendance.
Does this happen often in other countries? Because I have two business travels scheduled to Spain and Germany May/2021 and I’m in charge of the schedule
In western Europe, bars/clubs are on average much busier on Fridays and Saturdays than Thursdays. With that being said, Mondays, Tuesdays and Wednesdays are typically even less busy than Thursdays. These are just average, e.g. one can find a packed club in Paris on Monday. Also I’m guessing the Thursday crowd contains a higher percentage of students than Friday and Saturday.
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