Overseas Thoroughbred Investors to Boost Local Economy by €16 Million

in Coming Weeks

Friday, 21 September 2012
http://www.goracing.ie

Over the next two weeks over 1,000 Irish thoroughbred yearlings will be offered for sale to a global audience at two horse auctions in Tattersalls Ireland in Co.Meath and Goffs in Co.Kildare. A large percentage of these yearlings will be sold to overseas investors and it is estimated the value of these exports will be in the region of €16m.

Irish Thoroughbred Marketing (ITM) is the semi-state organisation whose role it is to encourage overseas participation at these sales to drive foreign investment in Irish thoroughbreds and ultimately the Irish economy.

Elaine Hatton, General Manager of ITM is quietly confident of a successful sales season despite a tough world economy. According to Hatton:- “the team here in ITM has been travelling extensively for the last six months meeting new and existing clients and we are expecting buyers from at least 20 different countries including the UK, USA, South Africa, Scandinavia, Mainland and Eastern Europe, Asia and beyond to be active at the sales.

The wider spin off from these overseas buyers coming to Ireland is considerable. Beyond the obvious benefits to Irish breeders, horse transporters and the sales companies; local hotels, restaurants and taxi companies also derive significant business from the multitude of overseas visitors. Hatton added; “we estimate over 250 hotel rooms will be used by overseas purchasers over the course of the sales, this demonstrates the beneficial economic impact the bloodstock industry provides to the Irish economy.”