Literature Review on New Zealand’s Thoroughbred Industry
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August 10, 2021Literature Review on New Zealand’s Thoroughbred Industry
LITERATURE REVIEW
NEW ZEALAND THOROUGHBRED INDUSTRY- OVERVIEW:
The New Zealand thoroughbred industry is the largest of the New Zealand equine industry generating about $ 1,635 million in value added contribution to the Gross Domestic Product (GDP) and it represents about 0.9% of the New Zealand real GDP for the year 2008/09 (IER, 2010b). The revenue is generated from the production of horses for racing, exportation of horses, overseas buyer investments, wagering, government wagering tax and returns to owners (IER, 2004).
The thoroughbred industry has two wings, the racing wing represented by the New Zealand thoroughbred racing and the breeding wing represented by the New Zealand thoroughbred breeders association (Fennessy, 2010). The industry has a long tradition of exporting horses and in the last ten years, about 1,500 thoroughbred horses were known to be exported annually as yearlings (Fennessy, 2010).
The table 1 and table 2 provide data on the number of horses racing within the season and data on the scale of the breeding industry.
Table 1: The New Zealand Thoroughbred racing industry. Source: New Zealand Thoroughbred Racing Fact Book (Racing, 2009).
| Season | Horses raced | Races run | Total stakes paid (prize money)
$ NZ million |
Total stakes paid (prize money)
% of 1999-2002 |
| Mean of 1999-2002 | 5,528 | 2,836 | $32.3 | 100 |
| 2002-03 | 5,469 | 2,810 | $35.0 | 108 |
| 2003-04 | 5,564 | 2,791 | $36.2 | 112 |
| 2004-05 | 5,706 | 2,817 | $37.2 | 115 |
| 2005-06 | 5,642 | 2,855 | $39.7 | 123 |
| 2006-07 | 5,566 | 2,863 | $49.4 | 153 |
| 2007-08 | 5,576 | 2,970 | $56.2 | 174 |
| 2008-09 | 5,826 | 3,088 | $58.4 | 181 |
| 2009-10 | NA | NA | $51.7 | 160 |
THE RACING INDUSTRY
The thoroughbred racing industry is governed by the New Zealand Thoroughbred Racing (NZTR). The NZTR is responsible for governance and management of the thoroughbred racing industry including drawing up and delivering its business plan as well as overseeing its funding distribution policy, rules and all integrity and race day functions, race programming and handicapping, registrations including the stud book, communications and industry marketing and education and development (IER, 2010a). More than 47,000 people are actively involved in production and training of more than 30,000 racehorses in New Zealand (IER, 2010a).
There are around 52 racecourses in New Zealand and 65 Racing (R.C) or Jockey clubs (J.C) ((NZTR), 2012). The major races held in New Zealand are the Karaka Million, Spring Classic, New Zealand 1000 Guineas, New Zealand 200 Guineas, New Zealand Cup, Telegraph
