Horse Racing

UK thoroughbred industry economic impact study begins


The 2022 economic impact study on the UK purebred industry is the third such study since 2014 | Horsephotos

A third UK Thoroughbred Industry economic impact study began on Friday, following the confirmation of funding support from the Horserace Betting Levy Board (HBLB). The third study of its kind was commissioned by the Thoroughbred Breeders Association (TBA), with additional financial support from the Racing Foundation, and will provide an up-to-date examination of the UK market, Analyze the impact of broader economic and political factors to identify emerging challenges and opportunities. PwC was appointed to conduct the study. The broader racing ecosystem will also be explored in the study, including the origin and size of horse populations, international trade, and the subsequent impact on the future racing program.

Claire Sheppard, TBA CEO, said, “We are incredibly grateful to the Levy Board of Directors and the Racing Foundation for their support in this incredibly important work. Previous studies have allowed us to first assess the environment in which purebred breeders are operating, while providing evidence on which to build our long-term strategy. Both emerging and more established trends in these reports reveal areas of industry risk, which are then addressed by introducing initiatives aimed at influencing behavior. market and industry support.

“This third study will provide us with an up-to-date overview of the market and allow us to track the influence of industry incentives such as the Great Britain Bounty Program. It will also examine the supply of thoroughbreds for races in the UK and the effects of global trade and competition on the sport. Crucially, the results of this project will show us whether our areas of focus are still key priorities for the future, or if there is evidence that we should realign them. part of its strategy to accommodate new, emerging threats and opportunities”.

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This story was posted in Europe, News shared in Europe and tagged economic impact study, HBLB, TBA, thoroughbred, UK racing industry, The UK’s purebred industry.





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