Racing a significant contributor to NZ economy

[Wandering Eyes]

The Racing New Zealand Board is pleased to announce the release of the 2022/23 Size and Scope Report that outlines an industry generating close to $1.9 billion in value-added contribution to the New Zealand economy. 

The Size and Scope report of New Zealand Racing is a comprehensive look at the racing industry and is the biggest of its type since 2017. 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.

In 2022/23, the New Zealand Racing industry generated total direct spending of $1,385.6 million. However, the flow-on effects linked to this expenditure increased the size of the industry’s value-added contribution to almost $1.9 billion.

Employment data and insights in the racing industry are particularly important. Participants provide the investment, time, skills, and passion that underpins horse and greyhound racing in the nation. 13,632 full-time equivalent jobs were sustained by the New Zealand racing industry, around 39% are the direct result of the racing industry activity whilst the remainder are in down-the-line industries that produce and supply goods and services to support racing in New Zealand.

In total, there are more than 40,600 roles occupied in the New Zealand racing industry as employees, participants, or volunteers. Many of these are specialised, industry specific roles – particularly in the breeding and training/racing related disciplines. Furthermore, many participants hold more than one role within the industry.

In 2022/23 close to 639,100 attendances were recorded at thoroughbred, harness, and greyhound race meetings in New Zealand. There are more than 18 race meetings held in New Zealand every week providing live entertainment to more than 639,000 attendees.

Racing NZ Chairman Mike Clarke is positive about the report’s findings and optimistic about the future.

“We’re proud of the contribution the New Zealand racing industry makes to the economy. Racing is currently experiencing positive momentum off the back of the 25-year partnership between Entain and TAB NZ announced in 2023, and this report validates the importance of the industry as a whole,” he said.

“Employment is an important metric to measure the health of our industry, as the passion of our people is what drives us forward. There is no doubt racing is a vital part in maintaining healthy communities and employment opportunities in New Zealand.”

The full report can be found here.

View the full article