The Breeders' Cup World Championships, which debuted at Del Mar racetrack in 2017, generated $96.8 million in direct and indirect economic benefits for San Diego County, determined by a recent economic impact study by Sports Management Research Institute (SMRI). The results are the highest recorded for any prior Breeders' Cup event.
The economic benefits of the Breeders' Cup quantified in this study include:
- $57.8 million in visitor spending, including accommodations, restaurants, transportation and more
- $27.2 million in track improvement investments for Del Mar racetrack, including both labor and material costs
- $1.3 million in staff and sponsor spending, exposing international corporations to local businesses
- $5.3 million secured in state and local tax revenues and $8.9 million secured in federal tax revenues
The positive economic impact is equivalent to the creation of an additional 736 full-time jobs in San Diego County. The study also revealed that the 2017 event contributed to a more favorable impression of San Diego for 71% of attendees, while 73% expressed interest in returning to the city the following year.
“We are extremely proud of the strong and positive impact of the Breeders' Cup on the San Diego region, particularly given that 2017 was Del Mar's first year hosting the Breeders' Cup World Championships,” said Craig Fravel, President & CEO of the Breeders' Cup. “This study further validates the power of our brand as a national and international event and the attractiveness of the San Diego and Del Mar communities for our guests. We look forward to future opportunities to collaborate with the many fantastic partners we worked with in 2017 in any effort to bring the Breeders' Cup back to Del Mar.”
“We have wonderful partnerships with local restaurants, hotels and the surrounding communities,” said Del Mar Thoroughbred Club CEO Joe Harper. “It is very gratifying to see the economic impact from hosting the Breeders' Cup benefit those who have supported horse racing at Del Mar for so many years.”
“San Diego once again proved itself to be one of the most desirable destinations for world-class events when our region hosted the Breeders' Cup for the first time,” Mayor Kevin L. Faulconer said. “This new study shows the tremendous boost the Breeders' Cup gave our local economy and how hosting events like this creates jobs and generates revenue that helps keep our neighborhoods clean and safe.”
The 2018 Breeders' Cup World Championships will return to Churchill Downs in Louisville, Kentucky for a record-tying ninth time Nov. 2-3.
Not a subscriber? Click here to sign up for the daily PDF or alerts.
