Edited Press Release
Playing host to the Belmont Stakes Racing Festival (BSRF) for the last three years has made June one of the strongest tourism months in Saratoga County, New York, according to a newly released economic impact analysis. The result has been record hotel revenues, increased spending by visitors and historically strong tax collections.
The analysis also traces the evolution of Saratoga's tourism economy, comparing pre-pandemic performance (2017-2019), the tourism recovery years (2021-2023) and the Belmont era (2024-2026). The findings show that hosting the Belmont Stakes Racing Festival helped elevate June into one of the region's highest-performing tourism months, creating lasting economic value while showcasing Saratoga to millions of viewers nationwide.
“The Belmont Stakes Racing Festival has proven to be far more than a world-class sporting event–it has served as a powerful economic driver for our region with significant benefits to Saratoga Springs and Saratoga County,” said Todd Shimkus, president of the Saratoga County Chamber of Commerce.
“These results demonstrate how extending Saratoga's tourism season into June gave a boost to sales tax collections for the city and county. Given record breaking revenue per available room, the city and county will likely also see a rise in occupancy taxes too. Of course, where people stay is where they spend money, which also benefits our local restaurants, bars, stores, and shops.”
Added New York Racing Association President and CEO David O'Rourke: “The Belmont Stakes Racing Festival's three-year stay at Saratoga Race Course demonstrated the extraordinary impact that world-class racing can have on a community. Beyond the excitement on-track, we are thrilled the Festival generated meaningful economic benefits for local businesses, tourism partners, and residents throughout Saratoga County. NYRA is grateful for the tremendous support we received from the Saratoga community, and this report reinforces the value of premier sporting events that showcase New York to millions of fans while strengthening the local and regional economy.”
To view the full economic analysis of the BSRF, click here.
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