Horse breeding and racing worth €2.4 billion to Irish economy in 2022 - HRI

The Irish thoroughbred breeding and racing industry was worth €2.4 billion to the economy last year, according to Horse Racing Ireland (HRI), the commercial semi-state company responsible for governance and development of horse racing here.

The industry supported more than 30,000 direct and indirect jobs, catered for 1.2 million racing attendees and had €538m worth of bloodstock sales by Irish vendors last year.

The figures are contained in an analysis of the industry by Deloite, commssioned by HRI and titled The Social and Economic Impact of Irish Thoroughbred Breeding and Racing.

Of the €2.4 billion spend, roughly half was generated directly by the industry, through breeders, owners, race courses and direct employment of trainers, stable staff, jockeys, racecourse staff and racing administrators.

The other half was generated in activities surrounding the industry, including employment of vets, farriers, betting staff, tourism, hospitality and other spin-offs.

In 2022, the Government gave €70 million in direct funding to the industry via the Horse and Greyhound Fund.

The report notes that for every €1 of Goverment funding last year, the industry contributed €35 to the economy.