The impact of the Victorian thoroughbred racing industry extends well beyond that seen on the racetrack. It is an integral part of the sporting life, cultural traditions and, importantly, the economy of Victoria.

Racing is an industry that makes a significant contribution to the economy, while also constituting a key aspect of the state’s social fabric, both on a metropolitan and regional basis.

In brief, it is:

  • An exciting and strongly supported sport;
  • A focus in many regional communities throughout the state;
  • A major employer in Victoria; and
  • A significant contributor to the state’s economy.

In April 2022, the latest Victorian Racing Industry Size and Scope report was released, reiterating that thoroughbred racing continues to play an important role in the state’s sporting and social calendar and is an industry that is a significant asset for Victoria.

Key Economic Contributions
It reveals, as an economic contributor, the Victorian thoroughbred racing industry:
  • Generates nearly $3.4 billion in value for the Victorian economy
  • Sustains the employment of more than 25,000 full-time equivalent jobs for Victorians
  • Provides $1.8 billion per annum in household income
  • Generates over $2 billion in spending – this incorporates both breeding and preparation of racehorses as well as on-and off-course customer expenditure
Key Community Contributions
The study also displays the integral role thoroughbred racing plays in local communities throughout Victoria:
  • It engages more than 78,000 people as an employee, volunteer or participant;
  • There are more than 70,000 owners connected with thoroughbred racing, and almost 9,000 horses being trained by just under 1,000 trainers;
  • In Victoria there are more than 1,400 breeders; and
  • There are more than 4700 racing club volunteers across the state and close to 650 community organisations are financially supported by thoroughbred racing.
Size and Scope of the Victorian Racing Industry - April 2022
Size and Scope of the Victorian Racing Industry - April 2022