The fact that the horse racing and breeding industry supported 28,900 jobs and generated €1.84bn in total expenditure in 2016, are amongst key findings of an Economic Impact Study conducted by Deloitte for Horse Racing Ireland, which is published today [Thursday].

The report, launched by Minister for Agriculture, Food, and the Marine, Michael Creed TD, highlights the scale and success of the sector in Ireland but also the breadth of an industry that is prominent across the island, with breeders and trainers located in virtually every county.

The €1.84bn total direct and stimulated expenditure of Irish breeding and racing is comprised of €914m core industry expenditure with secondary expenditure of €927m as the initial expenditure filters through the economy.

Breeding and racing play a vital role in the rural economy, providing significant employment both directly in the 9,500 full-time employed workers in the core industry and in a further 5,700 directly-related roles including those in equine science and veterinary, farriers and horse transport. When off-course betting and secondary employment are included the total number of jobs supported comes to 28,900 full-time employed workers.

The popularity of racing is demonstrated by the 1.3m who attended the 356 fixtures at the 26 racecourses in Ireland in 2016 (second only to the GAA championship in terms of sporting attendances). In excess of 7,000 Irish people have an involvement in horse ownership and 25% of the Republic of Ireland’s adult population say they have an interest in racing.

The industry also has a significant global impact. Alan Switzer, Director at Deloitte, said: “Our research identifies that breeding and racing activities in Ireland are the most prominent and important of any country on a per capita basis, having 50 thoroughbred horses per 10,000 people – many multiples more than most racing nations. Ireland was second only to the USA as the biggest seller of bloodstock at public auctions in 2016 by value, and more than 20% of the top 100 flat horses in the world were Irish bred. Ireland also boasts many of the world’s leading breeders, trainers and jockeys.”

The industry’s international standing is further highlighted by the investment of many of the world’s largest thoroughbred breeders and owners (2,300 horses in training being owned by international owners), providing significant direct investment to the island.

Other points of interest:

• Close to €200m of bloodstock was sold overseas at public auction by Irish vendors, which when taken together with private sales, nomination and keep fees, results in effective exports of over €370m, larger than many other forms of agriculture.

• Despite the recession of the past decade, the report estimates that more than €330m has also been invested in Breeding and Racing facilities and infrastructure, nearly €100m of this from racecourses, with substantial future investment in progress.

• Major festivals are the key drivers of racecourse attendance and direct economic impact, the seven largest forming 39% of total attendance in 2016. Off-course expenditure – such as in local bars, restaurants and hotels, often by international visitors – at these festivals also provides substantial economic impact.

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