Racing contributes more than $5.5 billion to the Victorian economy and sustains over 33,450 full-time equivalent jobs across the state, an independent report has found.
Prepared by specialist consultancy IER, the 2026 Size and Scope of the Victorian Racing Industry report measures the combined economic, employment and community contribution of the state’s three racing codes – thoroughbred, harness and greyhound – and updates the last study, completed in 2022.
Key findings of the report include:
- Racing’s value-added contribution to the Victorian economy has climbed from $4.7 billion in 2018-19 to $5.54 billion, growth of 18 per cent;
- 46 per cent of that economic impact is in regional Victoria;
- The industry sustains 33,456 full-time equivalent jobs – including 15,755 positions within racing itself and over 17,700 in the businesses that supply and support it;
- In total, near on 100,000 roles occupied in the Victorian racing industry as a participant, employee or volunteer. Close to 80 per cent of these Victorian roles are in regional parts of the state;
- Direct expenditure has grown from $3.2 billion in 2018-19 to $3.9 billion, with 65 per cent of that spend occurring in regional Victoria; and
- 78,000 members are actively engaged in their racing clubs, with more than 1.6 million attendances recorded at Victorian race meetings in 2024-25.
Beyond the economic figures, the report underlines the important role racing clubs play at the heart of their local communities.
More than 560 community and not-for-profit organisations share racing club facilities across the state, while 960 community and charitable organisations were supported through racing clubs, with close to $5 million raised by the three codes on their behalf.
In addition, over 7,200 volunteers provide their time, skills and support to their local racing club in a variety of raceday and non-raceday roles.
Harness Racing Victoria chief executive officer Matt Issacs said the industry was proud of its significant contribution to Victorian racing and to the economic and social fabric of communities across the state.
“In 2024-25, more than 600 breeders produced foals that will support the future of an industry in which more than 1,000 trainers and drivers compete in over 3,600 races across 27 Victorian harness racing tracks, supported by more than 20,000 owners, volunteers, members and club staff,” Isaacs said.
“This report reiterates that the thousands of racing participants, clubs, volunteers and fans are the lifeblood of towns and cities, and that a racing industry built on three strong, supported and thriving codes delivers benefits well beyond the racetrack.”
Racing Victoria CEO Aaron Morrison said the report’s findings that racing was much more than a sport – “it is a major contributor to Victoria’s economy, a significant employer and an important part of communities right across the state”.
“With an economic impact of more than $5.5 billion, the Victorian Racing Industry is continuing to grow and deliver meaningful outcomes for the state, particularly in regional communities where racing remains an important source of employment, investment and activity,” Morrison said.
“These results reflect the collective efforts of participants, clubs, volunteers, staff and the many businesses that support racing, and demonstrate why a strong and sustainable racing industry remains so important to Victoria.”
Greyhound Racing Victoria CEO Stuart Laing said the behind the report’s economic figures were thousands of Victorians whose lives were connected to racing.
“From multi-generational families and small business owners to volunteers, participants and club staff, racing continues to create opportunities, support livelihoods and strengthen communities across metropolitan and regional Victoria,” Laing said.
“The industry’s contribution extends well beyond the racetrack, supporting a vast network of suppliers, tradespeople, veterinarians, transport providers, hospitality operators, local businesses and community groups that rely on a strong and sustainable racing industry.”
Victorian Premier and Member for Bendigo East Jacinta Allan said Victoria’s racing industry “is an economic powerhouse – creating thousands of jobs, driving investment and delivering growth in our communities right around the state”.
“Labor is proud to back the racing industry and the thousands of regional workers that rely on it,” Allan said.
Minister for Racing Anthony Carbines said “Victoria is the racing capital of Australia”.
“This record, $5.5 billion contribution shows the strength, scale and impact of an industry that creates jobs, supports businesses and powers our economy,” Carbines said.
