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WORLD ECONOMIC REPORT FOR
HORSERACING INDUSTRY

EUROPE

Brian Kavanagh

"23 Countries"

EUROPE – THE CRADLE OF
HORSE RACING

EUROPEAN REGION - 2005
STATISTICS

IRELAND - SOME BASIC
FACTS

2004 CENSUS

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HORSE RACING IRELAND
MISSION STATEMENT

"“The Government
considers racing..."

GOVERNMENT SUPPORT

THREATS TO STATUS QUO

INDECON REPORT

INDECON SPONSORS

INDECON METHODOLOGY

"“This report
provides independent..."

KEY FINDINGS OF REPORT

APPLICATION OF REPORT
FINDINGS

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WORLD ECONOMIC REPORT FOR
HORSERACING INDUSTRY

EUROPE

Brian Kavanagh

"23 Countries"

23 Countries

3 IFHA Founding Members

European Racing Development
Conference

EUROPE – THE CRADLE OF
HORSE RACING

1671 – First recorded meeting
at Newmarket

1750 – Establishment of Jockey
Club (UK)

1752 – First Steeplechase –
Doneraile to Buttevant (County Cork)

1776 – First Classic Race – St
Leger at Doncaster

1790 – Establishment  of Irish Turf Club

1833 – Establishment of Societe
d’Encouragement

1836 – First Running of Prix du
Jockey Club

1858 – First meeting at Baden
Baden

1884 – First running of Derby
Italiano

EUROPEAN REGION - 2005
STATISTICS

25% of world thoroughbred foal
population

35% of betting on thoroughbred
racing

20% of thoroughbred races
worldwide

20% of total prize money
worldwide

IRELAND - SOME BASIC
FACTS

2004 CENSUS

Total area - 70,282 sq km

Population – 4 million

Total employment – 1.8 million

Gross Domestic Product – 181.6
billion US $

Member of EU since 1973

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HORSE RACING IRELAND
MISSION STATEMENT

“To develop and promote
Ireland as a world centre of excellence for horse racing and breeding”

"“The Government
considers racing..."

“The Government considers
racing to be strategically important because of the employment it creates and
sustains at all levels and  because of
the significant contribution it makes to rural development, farm and other
incomes, the business and services sectors, tourism, the economy as a whole
and the international reputation of the State”

Joe Walsh, Minister for
Agriculture Food

& Rural Development

May 2001

GOVERNMENT SUPPORT

“We are now enjoying a golden
age of Irish racing.  Attendances
continue to grow and the major festivals have become some of the biggest
sporting and social occasions in the country, spread throughout the year and
benefiting every region of the country.
This regional spread is one of the most positive aspects of Irish
racing which the Government regards as integral to Irish rural life”

An Táoiseach (Prime Minister),
Bertie Ahern

12th June 2006

THREATS TO STATUS QUO

Pace of change in Irish Society

Government support cannot be
taken for granted

Vulnerable to economic downturn

Funding review every four years

Need for accurate statistical
and economic data

INDECON REPORT

In 2004 Indecon Economic
Consultants were commissioned to provide an independent assessment of the
economic contribution of the thoroughbred breeding and horseracing industry
in Ireland

INDECON SPONSORS

Horse Racing Ireland

Irish Thoroughbred Breeders
Association

Irish European Breeders Fund

INDECON METHODOLOGY

Survey of stud farms, training
establishments and racecourses (28% of stallions; 25% of broodmares; 67% of
racecourses)

Interviews with key individuals
/ organisations within industry

Review of Irish and
international research on sector

Quantification of economic
impact of racing and breeding sectors

"“This report
provides independent..."

“This report provides
independent verification that the Irish racing and breeding sectors are
significant net contributors to the Irish exchequer.

They form a substantial part
of Irish economic life and generate significant employment, particularly in
rural areas.

It provides facts where we
have had opinion, analysis where we have had speculation and clarity where we
have had misunderstanding.”

Denis Brosnan

Chairman, Horse Racing Ireland

July 2004

KEY FINDINGS OF REPORT

The industry is a significant
net contributor to the exchequer

The industry employs a minimum
of 16,500 people (almost 1% of work force)

Bloodstock breeding is the
fastest growing element of a generally declining agricultural sector

Ireland is the third largest
producer of thoroughbreds in the world

Bloodstock breeding makes a
gross economic contribution of €330 million per annum

Tax paid by bloodstock breeders
of approximately €40 million

Racemeetings generate consumer
expenditure of over €110 million per annum

Racing accounts for more than
70,000 tourist visits to the country annually

Racing festivals are
significant contributors to their local economy (Galway €60 million -
Punchestown €43 million)

Off course and on course
betting grew by 135% between 1999 and 2004

APPLICATION OF REPORT
FINDINGS

Public affairs

Direct communication to
politicians / media

Annual Fact Book

Set agenda for debate about the
industry

Advertising / PR campaign

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EUROPEAN
MEMBERS OF IFHA

•

23
Countries

•

3
IFHA Founding Members

•

European
Racing

Development
Conference

EUROPE
– THE CRADLE OF HORSE RACING

•

1671
– First recorded meeting at Newmarket

•

1750
– Establishment of Jockey Club (UK)

•

1752
– First Steeplechase – Doneraile to Buttevant (County Cork)

•

1776
– First Classic Race – St Leger at Doncaster

•

1790
– Establishment  of Irish Turf Club

•

1833
– Establishment of Societe d’Encouragement

•

1836
– First Running of Prix du Jockey Club

•

1858
– First meeting at Baden Baden

•

1884
– First running of Derby Italiano