Queensland industry races ahead

• Economic impact of racing exceeds $2.2 billion in 2021-22
• Over 80% growth since 2015-2016
• Racing continues to grow under the Palaszczuk Government

Queensland’s racing industry contributed a record $2.2 billion towards the state’s economy in 2021-22, representing an 83% increase since the Palaszczuk Government came to office.

The latest independent economic data delivered by IER – a specialist in the tourism, events and entertainment industries – demonstrates an economic increase of more than $300 million (16%) in 2021-22 over the previous financial year.

During the same period, a further 2,012 full-time jobs (+15%) were generated, with the Queensland racing industry now responsible for 15,593 full-time employees across the state – an increase of 63% since 2015.

The numbers of participants in the industry also continues to grow, reaching 49,786.

While the latest figures show the overall economic contribution of Queensland racing under the Palaszczuk Government increased by 83%, from $1.2 billion in 2015-16 to $2.2 billion in 2021-22, it also shows that remarkable growth has been shared across three codes.

Since 2015-16, economic growth has skyrocketed across all codes of racing including:

• Thoroughbreds – Rises from $959 million to $1.7 billion (+77%);

• Greyhounds – Rises from $113 million to $301 million (+167%); and

• Harness – Rises from $142 million to $216 million (+52%).

As published in its FY22 Annual Report, Racing Queensland increased its payments to participants last financial year to a record-high $299.3 million (+72% since 2015-16), with prize money reaching $208.6 million (+51% since 2015-16).

Quotes attributable to Racing Minister Grace Grace:

“It is fantastic to see the economic value that racing in Queensland delivers has nearly doubled under the Palaszczuk Government.

“This result is a clear example of our strong record of delivering important reforms around integrity, animal welfare, financial sustainability and building new infrastructure that has given the industry the confidence it needs to grow for future success.

“With around 30 race meetings staged in Queensland every single week, and almost 50,000 participants, racing is absolutely thriving in the Sunshine State.

“But with a pipeline of major infrastructure projects underway and the recent commencement of our new sustainable funding model that now reinvests 80% of Betting Tax revenue back into the industry, the best is still yet to come.”  

Quotes attributable to Racing Queensland Chairman Steve Wilson AM:

“The Queensland racing industry continues to soar, despite facing a number of challenges in recent years.

“Following the global pandemic and recent floods, we have ensured our clubs and those at the coalface of the sport continue to shine, with full-time jobs and overall participant numbers reaching record levels in the past 12 months.

“In addition to our incredibly strong employment growth, to be able to facilitate a continued rise in economic impact is something we as an industry should be incredibly proud of, with 52% of that total directly benefiting regional economies.

“A key focus remains on delivering increased returns to participants, as well as investment across all sectors of our industry, with further enhancements having commenced in February thanks to the Palaszczuk Government’s Betting Tax change.

“The IER data once again highlights how wide-ranging and impactful our size and scale is compared to other sporting industries, and with 85 towns across the Sunshine State celebrating racing as its largest or second largest community event, we are confident the growth will only continue to surge in the coming years.”

Explainer/fast fact and or further information:

Click here to see key economic changes from FY16 to FY22.

Click here to see a full copy of the 2021-22 Queensland Racing Industry Size and Scope Report.

Click here for VNR of Minister Grace and RQ CEO Jason Scott.

Click here for a photo of Minister Grace and RQ CEO Jason Scott.

 

Economic contributions by region (incl. % value increase since 2015-16)

 

Toowoomba, Darling Downs and Maranoa

TOTAL: $168.8 million (+64%)

Thoroughbreds: $152.8 million

Greyhounds: $8.9 million

Harness: $7.0 million

JOBS: 1356 (+58%)

 

Sunshine Coast

TOTAL: $139.6 million (+151%)

Thoroughbreds: $125.9 million

Greyhounds: $9.4 million

Harness: $4.3 million

JOBS: 1104 (+139%)

 

Townsville

TOTAL: $70.6 million (+127%)

Thoroughbreds: $53.0 million

Greyhounds: $15.4 million

Harness: $2.2 million

JOBS: 576 (+127%)

 

Gold Coast

TOTAL: $229.3 million (+143%)

Thoroughbreds: $201.3 million

Greyhounds: $15.7 million

Harness: $12.3 million

JOBS: 1822 (+515%)

 

Central Queensland:

TOTAL: $61.9 million (+73%)

Thoroughbreds: $52.2 million

Greyhounds: $8.6 million

Harness: $1.1 million

JOBS: 501 (+70%)

 

Wide Bay Burnett:

TOTAL: $53.1 million (+66%)

Thoroughbreds: $37.9 million

Greyhounds: $11.5 million

Harness: $3.6 million

JOBS: 445 (+66%)

 

Far North Queensland:

TOTAL: $57.1 million (+105%)

Thoroughbreds: $49.2 million

Greyhounds: $5.5 million

Harness: $2.4 million

JOBS: 471 (+108%)

 

Mackay, Isaac and Whitsunday

TOTAL: $37.3 million (+105%)

Thoroughbreds: $32.3 million

Greyhounds: $3.4 million

Harness: $1.6 million

JOBS: 309 (+107%)

 

ENDS

 

Media contacts:

Minister Grace’s office – Daniel Webb – 0438 401 078

Racing Queensland – Richard Goodbody  – 0438 733 738