Greyhound Racing in Ireland is poised for recovery and ready to add to its €300 Million contribution to the Irish economy according to a new report published yesterday alongside a new Strategic Plan for the sport from 2018 to 2022.
The Economic and Financial Significance of the Irish Greyhound Industry has been written by economist Jim Power. It calculates there are 5,058 full and part-time jobs within the sector with a further 7,313 greyhound owners deriving economic benefit from the sport.
The impact of this employment creates €171 million in additional spending while greyhound owners contribute €135 million in spending.
Of the 16 stadia within Ireland, 15 are located outside Dublin which the report states, highlights the contribution to rural communities in additional jobs and spending.
The report’s methodology is not directly comparable to an earlier report by Power published in 2010. However, the new report does estimate a 27 percent reduction in industry employment when both reports are compared.
“The greyhound industry has weathered a perfect storm in recent years,” said Power.
“The combination of falling attendances due to greater mobile and online betting, fall in consumer spending due to the worst economic recession, a general decline in financial support and finally a significant long-term legacy debt, has stifled this industry.”
“The economic recovery, increasing consumer spending and the improved financial position of the IGB are the basis for optimism, though.”
“Horse and Greyhound racing receive exchequer support as it is recognised that both support considerable employment, more so than other sports. This Exchequer support is based on the Horse and Greyhound Fund which places a levy on off-course bookmakers.”
These traditional industries also make a contribution to the social and cultural life in Ireland. Despite the fall in recent years, there are over 12,000 people deriving economic benefit from the greyhound industry. A sustainable recovery is possible for the sector in the years ahead.”
Read more about the Strategic Plan for the Sport 2018-2022.
Image Credit: Cheltenham Racecourse