The importance of racing to New Zealand
The Melbourne Cup last week was a lot of fun for punters and a good reminder of how important the racing industry is to New Zealand’s economy.
While there were no New Zealand-owned horses in the race, there were four bred here – all sired by champion Zabeel from Waikato stud.
Training and breeding horses is something New Zealand is pretty good at and an important export earner.
I recently I went on a regional tour in my role as Minister for Racing with Alan Jackson, new Chair of the Racing Board and the new Chief Executive Chris Baylis. We held three very worthwhile meetings with people involved at all levels of the industry, including people from Horowhenua who came to the Palmerston North function.
Overall the racing industry contributes around $1.6 billion to the New Zealand economy and employs around 17,000 people.
The challenge for the new racing board and wider industry now is to implement a new strategy, lift returns back to the three codes, and continue to build public appeal in racing. There is a lot of competition now for people’s discretionary spending with lots of different entertainment options.
Overall the industry has tremendous potential that is on a par with the fishing and wine industries in economic terms. The new leadership team at the Racing Board is determined to make the most of this.
Finally, I want to pay tribute to two pioneers from the Horowhenua district who have recently passed away: Collis Blake and Callum MacLean.
Both men were farmers with strong community links and values. My deepest sympathies go to both their families – they were good men who will be greatly missed.