About IER


IER is a leading strategic consulting business specialising in the tourism, events and entertainment industries. For over
twenty years, IER has provided economic impact evaluations for both private and Government clients.
In particular, IER has specialised in consulting on a variety of projects related to the racing industries in Australia and New Zealand over this time.
This study constitutes an economic and  social impact evaluation of the Thoroughbred Racing Industry in each state of Australia.
It has been developed utilising the following source data:

+ Current year registration data relating to participants and animals
+ Breeding and Training expenditure data captured during in-depth interviews undertaken during the completion of similar such studies for state jurisdictions
+ Some data, that is not kept centrally by principal racing autorities, has been taken from previous studies undertaken within the last five years in each jurisdiction

An understanding of the intricate and sometimes complex flow of money in the racing industry underpins this assessment. IER has recently prepared similar studies for:

+ South Australian Racing Industry (3 Codes)
+ Queensland Racing Industry (3 Codes)
+ Thoroughbred Racing Industry in Country Victoria
+ Northern Territory Thoroughbred Racing Industry
+ Standardbred and Thoroughbred Racing in British Columbia
+ Australian Harness Racing Industry
+ New Zealand Racing Industry (3 Codes)
+ Western Australian Racing Industry (3 Codes)
+ Victorian Racing Industry (3 Codes)
+ Tasmanian Racing Industry (3 Codes)

The economic modelling for this study was undertaken by Associate Professor Barry Burgan (B Ec (Hons), FINSIA (Fellow). Barry is a director of Economic Research Consultants Pty Ltd and has extensive experience in the area of economic and financial assessment and policy advice. He has a background in the public and private sectors, academia and has worked on various projects in the area
of economic policy, including in the area of economic modelling.

In particular, Barry has extensive experience in the use of both computable general equilibrium and input-output models, regional economic development and cost/benefit analysis. He has undertaken a number of these studies and projects with the Sustainable Tourism Cooperative Research Centre.

Barry has undertaken a significant range of studies on special events, with some specific examples being:

+ Size and Scope of the South Australian Racing Industry (2012)
+ Economic and Social Impact Study of Harness Racing in Australia (2012)
+ The Economic Impact of the Melbourne Fringe Festival (2010 & 2011)
+ Analysis of economic impact (CGE modelling exercise) of 2006 Commonwealth Games on the Victorian economy (with KPMG, 2005)
+ Pre-event evaluation of impacts of the Sydney Olympic Games on NSW – with KPMG
+ Size and Scope study of the Victorian Racing Industry (2012)
+ Size and Scope study of the Tasmanian Racing Industry (2012)
+ Annual assessment of the Adelaide Fringe, WomAdelaide and Clipsal 500 (over the last 5-10 years)
+ Size and Scope Study of Thoroughbred Racing Industry in NT
+ Size and Scope of the Western Australian Racing Industry (2014)

Barry provides the economic modelling and advisory services to IER.

This report (Report) has been produced independently by IER  as requested by Racing Australia  (RA) using a mixture of primary and secondary research data.  The report has been prepared to meet the requirements set out by RA within the terms of reference. The information, statements, statistics and commentary  (together the ‘Information’) contained in this Report have been prepared by IER from a combination of publicly available material, Racing Australia data and from previously collected data collected during the completion of similar such studies for each jurisdiction.  IER has prepared this Report on the information that was received or obtained, on the basis that such information is accurate and, where it is represented to IER as such, complete. The Information contained in this Report has not been subject to an audit.