Perth Racecourse boosts the Scottish economy by more than £11 million each year and provides the equivalent of 130 jobs, a new report has stated.
The economic impact report, commissioned by the racecourse and produced by a consulting firm, says there are two “main drivers” of economic activity for the racecourse – the site itself and expenditure by race-goers in the local area on race days, such as in hotels, bars and restaurants.
More than 50,000 spectators attended Perth’s race days in 2017, equating to a daily average crowd of 3,340, the report claims.
Of Perth Racecourse’s total spectators, the report found 75% arrived from outside Perth and Kinross – 70% from elsewhere in Scotland and 5% from further afield, mainly England.
And the report found that more than 80% of the £11.8 million total revenues generated at the racecourse in 2016 remained in the local economy.
Hazel Peplinksi, chief executive at Perth Racecourse, said: “The team at Perth regards itself as very fortunate to be an ‘exporter of fun,’ bringing quality sporting enjoyment to those who share our passion for horse racing. However, what this comprehensive report has uncovered is the current economic value of Perth Racecourse.
“Due to the scale, which may surprise many, one can’t deny that Perth Racecourse has become a major exporter to the rest of Scotland and beyond.”
She added: “Within those huge figures of £11.8m overall economic impact and 130 full-time equivalent jobs, what is really pleasing to see is how much of that is spent locally and benefits other local businesses.
“We are extremely proud of this strong economic impact which is testament to the support we enjoy from so many – from our loyal racegoers and corporate clients to the faithful owners and trainers who travel great distances to provide the participants of our sport.”
The consultancy firm used financial figures provided by Perth Racecourse for 2016 along with records of crowds from last year.