Wide Bay racing economic impact, Queensland racing growth

The Queensland racing industry has made a significant impact on the Wide Bay economy, contributing nearly $50m in 2022-23 and doubling in value.

Not only do racing events bring communities together for a day, but they also generate income for local businesses, cafes, restaurants, motels and hotels.

The Queensland racing industry’s annual contribution to the Wide Bay economy has reached close to $50 million in 2022-23.

Racing Queensland has released its latest independent economic data delivered by IER – a specialist in the tourism, events, and entertainment industries – which demonstrates racing contributed a record $2.4 billion towards the state’s economy in 2022-23, representing a 100 per cent increase since 2015.

Almost 250 extra full-time jobs were generated in racing in 2022-23, with the industry responsible for 15,839 full-time equivalent jobs across Queensland – an increase of 66 per cent since 2015.

While the latest figures show the overall economic contribution of Queensland racing has doubled, it also shows that remarkable growth continues to be shared across all three codes of racing: thoroughbreds rose from $959 million to $1.8 billion, greyhounds rose from $113 million to $344 million, and harness rose from $142 million to $232 million.

The Queensland racing industry’s annual contribution to the Wide Bay economy has reached close to $50 million

Across the Wide Bay, which takes in 11 clubs from Burrandowan to Eidsvold, the industry was responsible for generating $49.3 million in value-added contribution to the economy in 2022-23, which represented a 55 per cent increase since 2015.

Steve Wilson AM, RQ Chair, said the Wide Bay played a “pivotal role” through thoroughbred, greyhound and country racing.

“Our unrelenting focus on returning payments to participants including prize money – along with strategic infrastructure – has provided confidence in the industry, and in return, strong economic growth and employment figures,” he said.

Infrastructure upgrades to the region’s country clubs have also been delivered, including a new set of 12-stall starting gates at Nanango Racing Club worth $150,000, and a $64,000 swab box replacement at South Burnett Race Club.

Important infrastructure projects have also been supported in the region and are helping set local racing clubs up for future success, including almost $450,000 worth of projects at the Bundaberg Race Club, such as a barrier upgrade and storage facility, a new water truck, and significant track works.

At the same time, the Bundaberg Greyhound Racing Club has benefited from a new judges’ and broadcast tower, along with a raft of enhancements including a new rail and lure system, catching pen, irrigation system, replacement fencing and the installation of new sectional timing system as part of a $1.4 million upgrade last year.

Member for Bundaberg Tom Smith said not only do racing events bring communities together for a day, but they also generate income for local businesses, cafes, restaurants, motels and hotels.

Originally published as Wide Bay racing economic impact, Queensland racing growth