INTRODUCING the session titled ‘Challenges Facing the European Breeding and Racing Industry’, Brian Kavanagh outlined some salient facts about the industry, spoke about strategic priorities for Irish racing and highlighted some of the issues that will have to be faced following Brexit.

In 2015 Europe accounted for 23% of all foals born worldwide, 21% of all races run, 16% of the prize money on offer and 30% of betting on racing across the globe. The betting figure pales against the almost 60% of global betting generated in Asia.

Kavanagh numbered Brexit among the six strategic priorities for Irish racing, also including the securing of a long-term stable funding mechanism, increasing the economic value of the sector from its current level of €1.84 billion, ensuring that racing remains relevant to younger generations, investing in the development and welfare of staff, and finally ensuring the highest standards of animal welfare.

In his address Kavanagh described racing and breeding as “the best example of total integration between two countries” when referring to the industries in Ireland and Britain. Racing is run on an all-Ireland basis, there is a single stud book, 17,000 horse movements take place between the two countries annually, 80% of Irish bloodstock exports go to Britain, while many of Ireland’s media rights contracts are priced in sterling.

In concluding, he summed up the current situation with the comment that “we have a good system, but it is in danger”.