South Australian racing industry generates $669.7 Million in economic value
A recent study by IER reveals that the South Australian racing sector has made an economic contribution of $669.7 million to the state.
The report specifically underscores the economic importance of Thoroughbred, Harness and Greyhound Racing in the state.
IER is a leading strategic consulting business specialising in the tourism, events and entertainment industries. For over
twenty years, IER has provided economic impact evaluations for both private and Government clients.
The June 2024 report found that the economic impacts generated by the racing industry were substantial, with a total direct expenditure of $573.1 million.
Around 4,971 time equivalent (FTE) jobs are supported throughout South Australia by the racing industry with nearly half of them linked to racing activities, which 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 sector involves than 12,259 participants including employees, trainers, breeders, owners, jockeys and drivers.
Moreover the report sheds light on how economic activity was distributed.
The Outer Adelaide and Murraylands regions stand out as areas for racing related activity with 11.5% and 8.3% of the total value added impact respectively.
One third of the value added contribution directly benefits economies.
Apart from its significance the racing industry also plays a role in fostering social connections within South Australia’s communities.
Racing events serve as opportunities for families and friends to come together while uniting individuals from different backgrounds and reinforcing values.
The racing industry also plays a role, in shaping the tourism landscape of towns and cities supporting businesses and providing insight to visitors about the community.
This highlights the industry’s involvement in employment and community interaction.
Grantley Stevens, Chair of Greyhound Racing SA emphasised that greyhound racing remains a part of communities where races are held organising events and backing charitable causes year round.
“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,” said Stevens.
The IER report, which reflected the 2022/2023 financial year, found that South Australian greyhound racing:
IER Report SA Greyhound Racing Key Findings
- Contributed $125M to the state’s economy
- Sustained 918 full time equivalent (FTE) positions
- Has 1390 registered participants
- 424 direct employees
- 240 volunteers
- 5 greyhound racing clubs
- 448 race meetings
- 66,240 race day attendees
- 1,932 greyhounds in training
- 68 breeding female greyhounds
- 476 SA bred greyhound pups whelped
The report comes at a very important time for South Australian greyhound racing as agenda driven anti-racing activists are seeking to urge the SA Government to shut the industry down.
The finding that the SA greyhound racing industry represents $125 Million in economic value to the state will be an important consideration during the ongoing reform process.