Horse racing industry set to double in value to €2bn within five years
Published 21/08/2014 | 02:30
The Irish horse racing industry is expected to double in value to €2bn over the next five years and add thousands of new jobs.
Horse Racing Ireland's chief executive Brian Kavanagh said that direct employment in the industry has the potential to increase from 16,000 to between 20,000 and 25,000 over the same period.
"I'd be disappointed if it doesn't reach these levels," he said in an interview with the Irish Independent.
"The growth potential for employment is huge and what's important here is that these are rural jobs where employment is badly needed."
Overseas growth will be key too, Mr Kavanagh added.
"By far our biggest market is the UK but Qatar is a growth market and we believe there is a lot of untapped potential in the US," he said. "Our horses have a good reputation for being durable and long-lasting and that sells abroad."
(See attached interview and video)