UK Thoroughbred Industry Economic Impact Study Begins

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

A third UK Thoroughbred industry economic impact study began on Friday, following 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 audit of the British market, analysing the impact of wider economic and political factors to identify emerging challenges and opportunities. PwC has been appointed to conduct the study. The wider racing ecosystem will also be explored in the study, including the source and size of its horse population, international trade and subsequent impact on the future racing programme.

Claire Sheppard, TBA Chief Executive, said, “We are incredibly grateful to the Levy Board and the Racing Foundation for their support of this vitally important piece of work. The previous studies enabled us to firstly assess the environment in which thoroughbred breeders were operating in, but also provide evidence to build our long-term strategies. Both the emerging and more established trends in these reports demonstrated areas of the sector at risk, which were subsequently addressed by the introduction of initiatives to influence market behaviour and assist the industry.

“This third study will give us an up-to-date overview of the market and allow us to monitor the influence of industry incentives such as the Great British Bonus Scheme.  It will also examine the supply of thoroughbreds to British racing and the effects of global trade and competition on the sport. Crucially, the results of this project will show us if our areas of focus remain key priorities for the future or if there is evidence that we should re-align parts of our strategy to new, emerging threats and opportunities.”

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