The island’s heritage railways made a loss of £3.5m last year, the DoI’s annual plan has revealed.
However, a report earlier this year also found that they contribute around £17m per year to the Manx economy.
Throughout the year, the steam railway, MER, Snaefell Mountain Railway and horse trams, brought in £2,208,000, however the expenditure totalled £5,703,000, resulting in a £3,495,000 loss.
The railways carried 556,069 passengers in 2024, down from 582,952 in 2023, however it was still significantly higher than the 2022 figure of 494,045.
The report said: “The 2024 summer season commenced on March 12 2024 and proved to be busy, although not reaching the record peak of the previous year, due to the unusually poor weather experienced throughout the season; nonetheless, the Douglas Bay Horse Tramway and
the IoM Steam Railways experienced an increase in passenger numbers.
“As well as the buildings, rolling stock, farm and the 20 horses, the Division manages some 100km of railway track across the length of the island, undertaking regular inspections, maintenance and targeted management of the assets, either within our own team or using local contractors, with whom we have built strong working relationships.”
SYTRA
When the SYTRA review explored the railway’s value, it found that ever £1 spent on the railways benefitted the Manx economy by £2.88.
The total benefit itself was around £17m a year, which was “formed of a mixture spending by visitors and spending by the railway itself”.
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