Findings of an economic report this week reveal that Leopardstown Racecourse is a vital commercial amenity in South County Dubin, with an expenditure impact of €60m.
Commissioned by Horse Racing Ireland (HRI) and conducted by economist, Tony Foley of Dublin City University Business School, the report validated the importance of Leopardstown Racecourse to the local economy in South Dublin.
The report entitled “Economic Impact of Leopardstown Racecourse”, commissioned earlier this year and released this week, showcases the amenity as a hub of commercial activity, with almost €37.9m in direct on and off-course expenditure and €26.5m in stimulated and induced expenditure.
It demonstrates the diverse income sources, beyond race days, such as golf and charity events as well as TV filming and community activities, bolstering Leopardstown’s overall income and importance to the area. The report forecasts its economic impact to grow to €80-90m by 2025.
With almost 1,000 positions created on each of the major race days, equating to roughly 500 full-time jobs, and €5.2m in wages paid in 2022, the report serves to highlight Leopardstown as a major employer in the area.
Paul Dermody, CEO of HRI Racecourses comments: “We are delighted to see that this report highlights Leopardstown’s contribution to the local economy in South Dublin. As we gear up for the upcoming Christmas Festival, where 800 people will be employed on each day of the festival, Leopardstown will continue to have a positive financial impact across a wide range of communities and businesses in South Dublin.
“We are working on a long-term development plan for Leopardstown in partnership with all local stakeholders and government. That process will continue to advance and Leopardstown will strengthen its role as a vital local community hub”.
A key amenity within the complex is Leopardstown Golf Centre, which hosts a range of activities, including corporate events, serving local schools and children as well as patients from the National Rehabilitation Hospital and St John of Gods, through regular programmes. Over 11m shots are hit per year on the driving range and the course is busy every day with 24 ladies’ societies, circa 50 – 140 members in each one.
Furthermore, with 20 per cent of Leopardstown’s horseracing ticket revenue originating from the UK market, the importance of the amenity in attracting tourists and generating income for local hoteliers and restaurateurs cannot be underestimated.
Leopardstown Racecourse’s CEO, Tim Husband added: “The multifaceted nature of the amenity, spanning from employment opportunities to hosting film crews, charitable events, corporate events, food fairs, and Christmas fairs is vital to the community we serve and is an important contributor to the local economy and local businesses.”
The report conclusively shows that as a base to a variety of on-site businesses, the racecourse complex at Leopardstown is an important and vital amenity to south Dublin and an indispensable regional hub.
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