The inaugural Economic Impact of Ascot Racecourse report, compiled by Deloitte, has been published.
Headline findings from the report, assessed in terms of Ascot’s contribution to the national economy, include the following key metrics for 2013:
- £138m total direct revenue generated by the racecourse, comprised of £70m direct racecourse expenditure and £68m generated indirectly (accommodation, food & drink, transport, fashion etc).
- 573,000 attendees during the year (279,000 at Royal Ascot), 10% of the total national racecourse attendance.
- 4,650 people employed on the busiest days.
- £14.5m tax contribution.
- * £350m+ off course betting turnover generated.
- £13.3m total prize money, 12% of the total national prize money on offer.
- 11 Group One races staged, 33% of the national total, over 26 race days (2% of the national total). There will be 13 Group One races from 2015.
- Over 200 horses trained outside Great Britain & Ireland have run at Royal Ascot since the racecourse reopened in 2006, including 34 from the USA and 19 from Australia.
- £237m spend on capital expenditure during the ten years to and including 2013.
The full report can be downloaded here.
Charles Barnett, Chief Executive at Ascot, said: “It is pleasing to be able to stage the first £5.5 million Royal Meeting in 2015 and we are also today unveiling the first Economic Impact report on our business, compiled by Deloitte.
“The report provides a fascinating snapshot into our business, and figures for 2014 continue to show an upturn. Royal Ascot attendance increased from 279,000 to 286,000 this year and hospitality was up 20%.
“Away from Royal Ascot, perhaps the most significant addition to our programme was the Red Bull Air Race World Championship leg which we staged in August. That brought in 50,000 people and with it, further economic benefits to the region to supplement those that come with our established year long race programme.
“The report demonstrates how important Ascot Racecourse is to the local, regional and national economy, as befits Europe’s flagship racing venue.”