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The financial importance and cultural impact of Ascot have been highlighted in a new report which puts the annual contribution the royal racecourse makes to the UK economy at £264.5 million.
It is a figure which the authors of the report claim makes the venue a “nationally significant economic asset” and “an international ambassador for British heritage and culture”.
The report set out to gauge the impact made, both directly and indirectly, on spending, employment and supply chains, as well as the reach of the event both nationally and internationally.
The course’s year-round activities support 3,903 full-time equivalent jobs, while the importance of the five days of Royal Ascot is reflected in the fact that it accounts for 1,930 full-time equivalent jobs.
The economic impact of the meeting was measured at £140m in Gross Value Added (GVA) in the report, which was written jointly by the consultancy New Horizon Economics and the University of Reading.
Professor James Reade of the University of Reading said: “The findings demonstrate that Ascot’s economic significance extends well beyond the racecourse boundary, creating benefits for businesses across the visitor economy, including hotels, restaurants, transport providers, retailers and other service activities.
Ascot: a nationally significant economic asset and an international ambassador for British heritage and cultureCredit: Edward Whitaker
“Overall, the evidence demonstrates that Ascot functions not only as a racecourse, but as a nationally significant economic asset, an international ambassador for British heritage and culture, and an important contributor to community wellbeing.
“Through its combined economic, social and reputational impacts, Ascot generates value at local, national and international levels, reinforcing its position as one of the United Kingdom’s leading sporting and cultural institutions.”
The report doesn’t just put numbers on the contribution that Ascot makes to the UK economy as a whole, but shows the broad appeal of an event which reaches well beyond horseracing and into a surprising spread of society.
Tickets bought by UK customers cover almost three-quarters of UK postcodes, while the relevance of the event in the Thames Valley is reflected by the fact that one in five come from Berkshire, Buckinghamshire and Oxfordshire.
Visitors to the course in 2024 came from 76 different countries and contributed £49.2m to the economy.
Global reach: Nick Luck and Michelle Yu of US broadcaster NBC Credit: Edward Whitaker
“Our findings show that Royal Ascot ranks among the UK’s most internationally recognised sporting occasions,” said New Horizon Economics founder Dr Steven Brand. “Its broadcast reach is comparable to events such as Wimbledon, The Open Championship and the Grand National, reaching 580 million households in more than 180 territories worldwide.
“In 2024, Royal Ascot attracted over 6,200 overseas visitors from 76 countries, with off-course spending of just under £50m supporting nearly 600 full-time jobs and £37m in economic value. The findings underline the extent to which Royal Ascot has become both a major economic asset and one of Britain’s most visible international events.”
The report also underlines the direct impact on social projects, with Ascot Racecourse Supports, the racecourse’s charitable and community programme, reaching more than 7,000 beneficiaries, generating over £700,000 in social value per year, and representing a £6 return for every £1 invested by Ascot.
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