The Economics of Horses
 By Winniefield Park   •   2nd Jun 2018   •   787 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:  Winniefield Park
 More News by Winniefield Park
Letís Hear it For the Girls
24th Jan 2021   |   General   |   Winniefield Park
It can seem like stallions get all the glory, but letís not forget those top earning mares with loads of talent. Hereís a look at the four top PonyBox earning mares. ...
Why Don't We Ride Zebras
23rd Jan 2021   |   General   |   Winniefield Park
Why didnít the knights yore and cowboys ride zebras? And why do we ride horses? This infographic video traces horse domestication and how horses were both influenced by technology and culture, and how they contributed to it. Zebra ...
Horse Rescues Help Heal Frontline Workers
21st Jan 2021   |   General   |   Winniefield Park
Frontline workers havenít had much of a break during this pandemic, and now with an apparent second wave underway, theyíre working harder than ever. A few horse rescues are trying to bring some stress relief to these essential hea ...
Is Riding Bitless Less Humane Than Riding With Bits
19th Jan 2021   |   General   |   Winniefield Park
Much is made about riding about a bit, and many people that feel that going bitless is more humane. Australian trainer Warwick Schiller discusses why that may not be true, and that some Ďbitlessí bridles may be even more severe th ...
Top Ten PonyBox Earners
17th Jan 2021   |   General   |   Winniefield Park
BMC Smokey Bear is a 16.3 hand Thoroughbred bearing the BMC TB brand. At the age of 16, Blood Moon Creations earned 9,714,000 PB with this stallion. 19th generation Smokey The Bear is by the stallion BMC Beanie Bear, whose pedigre ...
GoPro Tour of Show Jumping Arena Jump Types
16th Jan 2021   |   General   |   Winniefield Park
Every jump in a stadium jumping ring has a name, as do cross country jumps. Some of the jumps are specific to training. With the help of GoPro footage, Equine Helper points out what they look like, explains why they are named, and ...
Tiny Orphan Foal Rejected by Mother
13th Jan 2021   |   General   |   Winniefield Park
Rejected by her mother, the veterinarian wasnít optimistic about this tiny equineís chances for survival. But after careful nursing, rearranging the furniture and just taking things day by day, this little one didnít just survive ...
SNL Horse Farm Skit Video
12th Jan 2021   |   General   |   Winniefield Park
When your dad decides to sell the family farm, what do you do with your horse, your very best friend? They say if you love something, set it free. And thatís what Timothťe Chalamet did in the SNL skit, The Farm. Happy ending ensue ...
  View All News by Winniefield Park
©2002 - 2021   PonyBox LLC Create Account Advertise Terms Privacy Contact Us
191 Members Online 269,921 Registered Members 2,834 News Articles 12,069,522 Unique News Article Views 288,927,730 Website Views