Karaka Millions at Ellerslie Racecourse made a triumphant return in January. Photo / NZTR
Karaka Millions at Ellerslie Racecourse made a triumphant return in January. Photo / NZTR
Key findings from Size and Scope report related to thoroughbred racing:
Direct spending by the thoroughbred racing industry was measured at $968.4 million
Total value added was $1,302.4m
Attendance at the 49 thoroughbred racing clubs stood at 491,661
5732 thoroughbred race horses were in training with 2972 live foals bred
12,081 people own or part-own a thoroughbred racehorse
From breeders through to volunteers, more than 23,295 Kiwis participate in the industry
Leading into the biggest racing season in New Zealand history, a report has revealed hoofprints of prosperity left by thoroughbred racing on this country.
Commissioned by Racing NZ, The Size and Scope report has valued the economic contribution of the industry at $1.3 billion while sustaining 9496 fulltime equivalent jobs.
The report is a comprehensive look at the racing industry and the biggest of its type since 2017.
Signed off and welcomed by Deputy Prime Minister and Minister for Racing Winston Peters, the report provides a detailed look at the economic, social and employment benefits of racing across all three codes (thoroughbreds, harness and greyhounds) at a national and regional level.
Bruce Sharrock, New Zealand Thoroughbred Racing (NZTR) CEO, said the report was a clear demonstration of the health and opportunity within thoroughbred racing in New Zealand.
“Thoroughbred Racing remains a vibrant, relevant sport that brings significant economic benefit to the country and employment to thousands of Kiwis - particularly in the regions.
“It is also worth noting that the study used figures from the 2022/23 season. Since then there has been a significant amount of change and investment in the industry thanks to the 25-year partnership between Entain and TAB NZ.
“The launch of the NZB Kiwi, soon to be the Southern Hemisphere’s richest three-year-old horse race, is just one example of how we plan to work together to grow the industry further.”
Bruce Sharrock, NZTR CEO. Photo / NZTR
Unsurprisingly, the majority of the jobs are sustained in the home of thoroughbred racing, the Waikato. According to the report, the region supports 3536 fulltime equivalent jobs both within the industry as well as those employed in down-the-line industries that receive increased demand as a result of racing activity.
Some examples of the other industries that are stimulated by racing include; veterinary, feed, retail, tourism, accommodation, transport, manufacturing and construction.
“Whether an owner, breeder, trainer, jockey, club, visitor, or volunteer, the contribution we all make to the industry is significant,” Sharrock said.
“It is easy to be dismissive of the industry but it is clear, particularly in the regions, just how vital thoroughbred racing is to maintaining healthy communities and employment opportunities.
“We’re proud of the contribution we all make and optimistic about the future.”
