The thoroughbred racing industry in Victoria is a major economic driver, generating over $4.3 billion for the state’s economy and sustaining more than 33,800 full-time equivalent jobs. The industry also plays an important role in regional Victoria, with over 63% of participants residing in regional areas.
There are over 121,200 people directly employed, volunteer or participate in racing industry activities in Victoria. This includes breeders, trainers, jockeys, stablehands, veterinarians, track staff, racecourse officials, administrators, and punters.
The industry is also a major contributor to the state’s tourism industry, with millions of people attending race meetings each year. In 2022, there were over 1.8 million racegoers in Victoria, generating an estimated $170 million in economic activity.
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The Victorian thoroughbred racing industry is regulated by Racing Victoria, a not-for-profit organization that is responsible for the administration and promotion of racing in the state. Racing Victoria is also responsible for ensuring that the industry is conducted in a fair, safe and ethical manner.
The Victorian thoroughbred racing industry is a vibrant and dynamic industry that is constantly evolving. The industry is committed to innovation and is always looking for new ways to attract and retain participants and spectators. The industry is also committed to responsible gambling and is working to ensure that gambling is conducted in a safe and responsible manner.
The Victorian thoroughbred racing industry is a major economic and social asset for the state. The industry generates billions of dollars for the economy, creates thousands of jobs, and attracts millions of visitors each year. The industry is also committed to innovation and responsible gambling. The Victorian thoroughbred racing industry is a vital part of the state’s economy and society.
Here are some of the key highlights of the Victorian thoroughbred racing industry:
- The industry generates over $4.3 billion for the Victorian economy.
- The industry sustains more than 33,800 full-time equivalent jobs.
- The industry plays an important role in regional Victoria.
- The industry is a major contributor to the state’s tourism industry.
- The industry is regulated by Racing Victoria.
- The industry is committed to innovation and responsible gambling.