Greyhound racing driving $125 million in economic value to South Australia
The South Australian Racing Industry Generates $669.7 Million in Economic Value to the State
A new report from IER, commissioned by the South Australian racing industry, highlights the substantial economic, social and community benefits that the Racing Industry in South Australia contributed to the state economy across 2022/23.
The report highlights the contributions directly attributed to the State from the three racing codes; Thoroughbred, Harness and Greyhound Racing.
The economic impacts generated by the racing industry were substantial, with a total direct expenditure of $573.1 million. This expenditure resulted in a direct value added impact of $211.8 million (wages, salaries and profits), which increased to over $669.7 million when flow-on effects were taken into account.
The racing industry was responsible for sustaining 4,971 full-time equivalent (FTE) jobs across the state with significant number of individuals engaged within the racing industry. There were over 12,259 participants, including employees, trainers, breeders, owners, jockeys, and drivers. The industry was supported by more than 2,100 volunteers who provided their time and resources. These individuals played a crucial role in the success and sustainability of the racing industry.
The report also highlighted the regional distribution of economic activity. The Outer Adelaide and Murraylands regions represented the largest regional areas of racing-related economic activity, accounting for 11.5% and 8.3% of the total value added impact, respectively. Overall, 33% of the value added contribution directly benefited regional economies.
In addition to the economic impacts, the racing industry played a vital role in the social and community fabric of South Australia. Thoroughbred, harness, and greyhound racing events brought together family and friends for a social experience, connected people with diverse backgrounds, and reinforced the values of the community. The industry also contributed to the tourism profile of towns and cities, supporting local businesses and educating visitors about the local community.
Racing SA Chair Rob Rorrison reinforced, “The South Australian racing industry has a strong presence in regional communities, with over 55% of the roles in racing located outside metropolitan areas. This demonstrates the industry's contribution to regional employment and community engagement.
This report also highlights the importance of the racing industry to the South Australian economy and its role in fostering social and community connections. The industry's economic value, employment opportunities, and community engagement make it a significant contributor to the overall well-being of the state”.
Greyhound Racing SA Chair, Grantley Stevens, further added; “Greyhound Racing continues to be a major part of the local communities at which our racing is based, hosting events, and supporting charitable and grassroots causes throughout the year. We look forward to the ongoing delivery of the economic and social contributions we make to our great state.”
“GRSA conducts 448 race meetings annually, providing significant employment and contributing to local economies within both metropolitan Adelaide and regional areas.
Greyhound Racing South Australia (GRSA) is immensely proud of the contribution it makes as part of the South Australian Racing Industry to the state’s economy and, more broadly, within the regional communities in which we race.”
Carlo D'Ortenzio, Chair, Harness Racing South Australia, said, "Racing has been a part of the social fabric in Australia for generations, and underpinning this is the vast economic contribution it makes through various direct and indirect channels. Commissioning such a report was therefore a purposeful stride forward to highlight the impact that South Australian racing makes both locally and nationally.
Harness Racing has enjoyed a renaissance period of late, with green shoots appearing throughout many KPIs which has translated to further economic growth and benefits. It's important to note that increases in government support recently have been validated by parlaying into broader and mutually beneficial outcomes for all stakeholders."
Highlights from the IER report
• In 2022/23 the South Australian racing industry was responsible for generating close to $670 million in value added contribution to the South Australian economy- 33% of which directly benefits regional economies.
• 4,971 FTE jobs sustained by the South Australian racing industry, with 49% a direct result of racing industry activity.
• 12,259 participants involved in the South Australian racing industry as an employee, participant or volunteer with 55% of these roles within regional communities.
• The South Australian racing industry is responsible for generating $573.1 million in expenditure in South Australia. Close to 59% of this expenditure generated in metropolitan parts of the state.
• South Australia owners and trainers spent close to $161.4 million in 2022/23 preparing racing horses and greyhounds for racing. The regional areas account for 58% of this economic activity.
For further information please contact; GRSA Marketing on 8243 7120.