Recently the New Zealand Racing Board commissioned on behalf of the New Zealand Racing industry a national Size and Scope study quantifying the importance and worth of the industry to the national economy.
This was the second time the NZ Racing Board had commissioned such work to be done by IER
research consultants. One study was commissioned in 2004 and the findings of the current study were from research conducted throughout 2010-2011.
Generating revenue, employment and the significant contribution that makes is underscored yet again in this current report.
Key points from the latest study are: the racing industry is worth $1.6 billion a year to the NZ economy, on par with the seafood and wine industries; 52,732 people are actively involved in racing, with almost 17,000 people employed in full-time positions; racing generates $167 million in export earnings in NZ and community groups are major users of racing facilities and services.
The report has a region by region summary Northland has a rich history and association with racing and the industry is a major contributor to stimulating regional economic activity and sustaining employment, the report notes.
Each year racing contributes $12.85 million to the Northland economy and more than 800 locals depend on it for their livelihoods. The report also found racing directly employed 133 people and when you include casual staff, part-time workers and volunteers.
Racing generated more than $5.9 million in wages and salaries to employees in racing and more than 20800 people attended race meetings in Northland in 2008-2009. Race goers spent more than $1 million on retail, food, drink, transport and accommodation.
