The Economics of Horses
 By Saferaphus   •   2nd Jun 2018   •   53 views   •   0 comments
The Economics of Horses

What do horses contribute to our economics? The numbers differ from country to country and of course, change quickly. In Canada, tracks are closing down, and that affects everyone from those who train and care for the animals, to the off-track bettors that will spend their money elsewhere. So off I go with my faulty math skills, to take a look at the economic contribution of the horse world. The horse industry is considered part of the agricultural sector, but its reach is much further with spectators and numerous unpaid labors and volunteers. In fact, unpaid may exceed paid labor in a great number of cases.

A 2017 study of the horse industry by the American Horse Council found that the horse industry has a $50 billion impact on the overall economy in the United States. This did not take into account the spending of race and competition fans outside the actual events they attended. Calculating this, of course, would result in a much higher impact. The study also cites that 988,394 million people in the U.S. work in the horse industry. Tens of millions more participate as spectators. Wages and benefits earned in the horse industry exceed $38 billion dollars.

Although the racing segment of the industry only accounts for 844,531 horses, it generates $101.5 billion to the economy and provides about 85,000 jobs out of a total 454,000 jobs industry wide. By comparison, the automotive manufacturing provided just over 200,000 jobs.

It isnít unusual for there to be an attitude that horses are a rich person's pastime. But the statistics in North American donít support this. Only 28% of us have a household income that is more than $100,000 per year. 34% of us have an annual income of less than $50,000.

A 2017 Australian survey suggests that their horse industry contributes $1.14 billion to the gross domestic product yearly through the horse related business activities, events and horse care. This is almost equivalent to the entire livestock industry in that country.

In Canada it was estimated that in 2010, the horse industry contributed $19 billion annually to the Canadian economy and generates about 76,000 full-time jobs. Most of these jobs however, are minimum wage employment. By far the greatest expenditure in the horse industry after buying a property on which to keep horses, and paid farm labor, is for hay. $484,135,507 is spent on hay in Canada each. Coaching Is the next largest expenditure, with roughly 7.2 million dollars spent each year. The purchase of tack generated about $83,891,797.

In all countries, volunteers are essential and provide an uncalculated service to the horse industry. Another uncalculated value is the unpaid labor provided by family and friends. In Canada, this is valued at $4,839,125,536 per year.

Horse News More In This Category:  General      Horse News More From This Author:  Saferaphus
 More News by Saferaphus
Newfoundland Pony Near Extinction
16th Jun 2018   |   General   |   Saferaphus
When one pictures the rugged scenery of Newfoundland and Labrador, ponies rarely make it into the picture. Salt cod, dense fogs, deep snows, rough water perhaps. But, in that beautiful but often times harsh environment, a hardy br ...
Types of Hobby Horses
12th Jun 2018   |   General   |   Saferaphus
How many of us, dreaming of riding a real horse, rode a hobby horse instead? Hobby horses have evolved, perhaps not so profoundly as real horses. But clearly, from very early on, hobby horses have satisfied some sort of need to ho ...
Keeping and Using Stallions
10th Jun 2018   |   General   |   Saferaphus
There are a lot of myths about stallions. Some people believe only men should handle stallions. Many think they are more majestic, noble and wild than mares and geldings. Most of us take for granted that you donít turn a stallion ...
Cannabis For Horses
9th Jun 2018   |   General   |   Saferaphus
Marijuana legalization is a hot topic. Here in Canada, itís about to be legalized. It already is in several states and countries. Iím not going to comment about the pros and cons of legalization, or of its use in general. After re ...
What is That Cough
6th Jun 2018   |   General   |   Saferaphus
In Eastern Canada, a contagious disease is quarantining stables and shutting down events. Streptococcus Equi, a bacterial infection better known as strangles, has even shut down the famous RCMP musical ride. Strangles presents its ...
Horse Trailer Accidents
3rd Jun 2018   |   General   |   Saferaphus
Horse Trailer accidents really scare me. Iíve seen horses hung over the chest bars, cast upside down on the floors, stuck halfway out the human doors, hung up in tie ropes and I know of at least one that climbed out the side windo ...
Unusual Things To Do On A Horse
30th May 2018   |   General   |   Saferaphus
Cleaning stalls leaves your mind pretty free to wander. So lately, with a pitchfork in my hand, I wondered what else do people do on horseback besides just ride? ...
News From the Horse World
28th May 2018   |   General   |   Saferaphus
The state of Arizona has been hit with an intense drought. As a result, wild horses have been the victims. This spring, about 180 horses died after becoming caught in the mud of a stock pond where they tried to find water. Weakene ...
  View All News by Saferaphus
©2002 - 2018   PonyBox LLC Create Account Terms & Conditions Privacy Contact Us
365 Members Online 239,806 Registered Members 2,440 News Articles 10,066,537 Unique News Article Views 219,004,877 Website Views