New Report Highlights Economic Impact of Belmont Stakes Racing Festival on Saratoga County

A newly released economic impact analysis shows that hosting the Belmont Stakes Racing Festival transformed June into one of Saratoga County’s strongest tourism months during its three-year run at Saratoga Race Course, generating record hotel revenues, increased visitor spending and historically strong sales tax collections while extending the region’s economic momentum ahead of the traditional summer racing season.

The report, released in August by the Saratoga County Chamber of Commerce, Discover Saratoga, and the Saratoga Economic Development Corporation, examines the cumulative impact of the event over its three years in Saratoga and highlights the significant economic benefits experienced by businesses, local governments, and the regional tourism industry.

The analysis traces the evolution of Saratoga’s tourism economy, comparing pre-pandemic performance (2017–2019), the tourism recovery years (2021–2023) and the Belmont era (2024–2026). The findings show that hosting the Belmont Stakes Racing Festival helped elevate June into one of the region’s highest-performing tourism months, creating lasting economic value while showcasing Saratoga to millions of viewers nationwide.

Among the report’s key findings:

June hotel revenue per available room reached a record $193.46 in Saratoga Springs, a 37.6% increase compared to 2023. June sales tax collections reached $2.04 million in Saratoga Springs and $18.62 million across Saratoga County in 2026. Over the three-year Belmont era, Saratoga County collected nearly $52 million, substantially higher than recovery-year and pre-pandemic totals. National television broadcasts averaged 3.6 to 3.8 million viewers, providing exceptional exposure for Saratoga Springs and Saratoga County during the month of June. 

“The Belmont Stakes Racing Festival has proven to be far more than a world-class sporting event— it has served as a powerful economic driver for our region with significant benefits to Saratoga Springs and Saratoga County,” said Todd Shimkus, president of the Saratoga County Chamber of Commerce. “These results demonstrate how extending Saratoga’s tourism season into June gave a boost to sales tax collections for the city and county. Given record breaking revenue per available room, the city and county will likely also see a rise in occupancy taxes too. Of course, where people stay is where they spend money, which also benefits our local restaurants, bars, stores, and shops.”’

“The true legacy of the Belmont Stakes Racing Festival extends far beyond three incredible years,” said Darryl Leggieri, president of Discover Saratoga. “The event strengthened our tourism economy, elevated Saratoga County’s national profile, and welcomed new visitors who experienced our community for the first time. Those impressions don’t end when the race does—they create future vacations, return visits, and continued economic opportunity.”