Global Impact of Equestrianism

 According to the American Horse Council Foundation’s 2017 National Economic Impact Study, The equine industry contributes approximately $50 billion in direct economic impact to the U.S. economy, and has a direct employment impact of 988,394 jobs. Additionally, the industry itself contributes $38 billion in direct wages, salaries, and benefits. From those direct effects, the horse industry’s contribution ripples out into other sectors of the economy. When taking into account the multiplier effect of the equine industry, there is a total contribution of $122 billion to the US economy and a total employment impact of 1.7 million jobs.

There are many different segments to the Equine Industry and Equine competition comes in many forms. Racing, Show Jumping, Polo, Showing, Rodeo, Steeplechase, Endurance are just some of the different equine competitions that take place around the world influenced by different cultures. Of the total economic impacts reported, approximately $26.1 billion is generated from the racing segment, $28.8 billion from the showing segment. The horse racing segment of the horse industry is responsible for supporting 241,237 jobs directly and 231,083 jobs indirectly. That’s a total of 472,320 jobs that have been created in the US by only one sub-segment of the entire equine sports industry. Most of the jobs support rural communities across the United States, helping to lift many families out of poverty and into prosperity. 

Similar economic results can be seen in other regions of the world as well. In 2018-19, the Asian Racing Federation issued a report indicating the Thoroughbred racing alone in Asia was responsible for generating US$26.9 billion in GDP, and actively sustained more than 570,000 jobs throughout the entire region. Out of 570,000 jobs that were created by racing industry activity, it was calculated that direct impact was 301,661 and an additional 268,885 jobs were created as a result of the multiplier effect of the equine industry. The report also indicated that the industry generated US$14.5 billion in total household income and created US$6.9 billion in taxation revenue, with US$834 million delivered to charitable institutions across the jurisdiction. As in the United States, rural communities have been a huge benefactor of this newly created economic activity. Individuals living in rural communities have benefited by having the ability diversify their sources of income in other agricultural, non-farming activities.

Whether in Asia, Europe, Latin America or any other part of the globe, equine activities have woven both into the economics and culture of people for thousands of years. As a subset of the larger agricultural economy, the equine industry provides for a natural compliment to and diversification from traditional crop based farming. Additional sources of income and employment related opportunities are desperately needed in disadvantage rural communities around the world. Equine International is dedicated to providing people with the skills and education required to participate in the multi-billion dollar industry of equestrianism.