The racing industry in Australia is a powerhouse, and its economic impact is undeniable. Victoria and Queensland's recent economic reports highlight the industry's growing importance, with annual contributions exceeding $8 billion. This is a testament to the industry's resilience and its ability to thrive in a rapidly changing economic landscape. But what makes this particularly fascinating is the industry's ability to create jobs and support businesses, particularly in regional areas. In Victoria, the industry sustains 33,456 full-time equivalent jobs, with almost 15,800 within racing itself and more than 17,700 across supporting industries. This is a significant contribution to the state's economy, with a 18% increase in contribution since the previous benchmark study. Similarly, Queensland's racing industry has recorded a 104% increase in value-added contribution since FY16, with its annual economic impact increasing by almost $50 million from FY24 to FY25. The industry's impact is not limited to job creation; it also has a significant social impact. In Victoria, almost 100,000 people participate in the industry as employees, volunteers, or participants, with close to 80% based in regional areas. This highlights the industry's ability to bring people together and create a sense of community. The industry's contribution to regional communities is particularly noteworthy. In Victoria, 46% of the economic contribution is generated in country areas, while in Queensland, more than half of the economic contribution is delivered in regional hubs. This is a testament to the industry's ability to support and strengthen regional economies. The thoroughbred code remains the largest contributor in Queensland, accounting for $1.93 billion of the industry's economic impact, followed by greyhound racing at $348.4 million and harness racing at $222.9 million. This highlights the diversity of the industry and its ability to cater to different tastes and preferences. The industry's importance to the state's economy and workforce is undeniable. In Victoria, the industry sustains 33,456 full-time equivalent jobs, while in Queensland, it supports 14,000 full-time jobs. This is a significant contribution to the state's workforce and economy. The reports also highlight the industry's commitment to sustainability and social responsibility. In Victoria, more than 560 not-for-profit organizations use racing club facilities, and the three codes raise almost $5 million annually for local groups. This demonstrates the industry's commitment to giving back to the community and supporting local causes. In conclusion, the racing industry in Australia is a powerhouse that contributes significantly to the economy and society. Its ability to create jobs, support businesses, and bring people together is remarkable. The industry's commitment to sustainability and social responsibility is also commendable. As the industry continues to thrive, it is essential to maintain strong participation across all three racing codes to ensure its long-term success and impact.
