Industry Analysis & Industry Trends
Horse racing and greyhound racing are fixtures of Australian sporting culture. Horse racing is the only sport in Australia's athletically obsessed culture that warrants public holidays in various states, culminating in November's Melbourne Cup as the jewel of a $1.6 billion industry.
However, horse racing has been facing challenges from all angles over the past five years. In 2007-08, equine influenza (EI) hammered horse racing in Queensland and New South Wales, where a number of races were called off due to heavy quarantine restrictions. After months on the sidelines, racing returned to normal. By March 2008, Australia was declared EI-free. Consequently, the industry began to recover... purchase to read more
Industry Report - Industry Investment Chapter
IBISWorld estimates that for every dollar spent on capital, $3.30 is spent on labour. Most of the costs associated with the industry relate to wages. However, there are significant costs associated with capital requirements. While the industry has a high capital investment in areas such as race courses and their associated facilities, including stables and stands, there is also a large need for direct labour involvement in all areas from training and handling to course maintenance and race day operations and management... purchase to read more