Just a reminder for the doubters….
The New Zealand racing industry generated a total value-added contribution of nearly
$1.9 billion to the New Zealand economy in the 2022/23 financial year.
This value represents the flow-on economic effects from direct expenditures of the racing industry, which amounted to approximately $1.4 billion in direct spending during the same period.
Key statistics regarding the industry's value and impact include:
GDP Contribution: The industry's value-added contribution to the Gross Domestic Product is approximately $1.9 billion annually.
Employment: The industry sustains nearly 14,000 full-time equivalent (FTE) jobs and involves more than 40,600 people as employees, participants, or volunteers.
Wages and Salaries: Annually, more than $743 million in wages and salaries are generated across the industry.
Regional Impact: The economic activity is primarily concentrated in the North Island (over 70%), with the Waikato and Auckland regions being the largest contributors.
Code Contributions: Thoroughbred racing is the largest code, responsible for nearly 70% of the total industry expenditure and more than 85% of the economic activity in the North Island. Harness racing is the second largest, and greyhound racing also contributes, though the latter is scheduled to close after July 31, 2026.
Export Revenue: The export sale of horses, mainly to Australia and Asia, generates more than $120 million a year.