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Posted 2024-05-22 20:39:12  
Racing contributed NZ1.9b to NZ economy

The Racing New Zealand Board is delighted to unveil the 2022/23 Size and Scope Report, highlighting an industry that contributes nearly $1.9 billion to the New Zealand economy.

This comprehensive report, the largest since 2017, offers an in-depth analysis of the racing industry. It details the economic, social, and employment benefits of racing across thoroughbreds, harness, and greyhounds at both national and regional levels. Deputy Prime Minister and Minister for Racing Winston Peters has welcomed its findings.

In 2022/23, direct spending within the New Zealand Racing industry reached $1,385.6 million. The ripple effects of this spending boosted the industry's total economic contribution to almost $1.9 billion.

Employment data from the report is particularly significant. The racing industry supports 13,632 full-time equivalent jobs, with approximately 39% directly within the racing sector and the rest in related industries that supply goods and services. Overall, the industry involves more than 40,600 roles, including employees, participants, and volunteers, many of whom hold specialized positions in breeding and training.

Attendance figures for 2022/23 show that close to 639,100 people attended thoroughbred, harness, and greyhound race meetings across New Zealand. With more than 18 race meetings held weekly, the industry provides live entertainment to a substantial audience.

Racing NZ Chairman Mike Clarke expressed optimism about the report's findings and the industry's future.

“We’re proud of the New Zealand racing industry’s economic contribution. Racing is gaining positive momentum, especially following the 25-year partnership between Entain and TAB NZ announced in 2023. This report underscores the industry's significance,” he said.

“Employment is a key indicator of our industry’s health. The passion of our people is what drives us forward. Racing plays a crucial role in sustaining healthy communities and providing employment opportunities in New Zealand.” 

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