The American Horse Council’s (AHC) 2023 Equine Economic Impact Survey finds that the industry’s fiscal contributions and employment numbers are rising, while the horse population is declining.
The results shed light on the significant and robust contributions of the equine industry to the U.S. economy. The survey offers a comprehensive overview of the economic impact and trends within the equine sector and highlights how it reaches far beyond the pastures and ranch land across the country.
Key highlights of the survey include:
- Diverse economic sectors were impacted. The total value added in 2023 from the equine industry is $177 billion, up from $122 billion in 2017. The equine industry’s ripple effect extends beyond the traditional sectors, influencing a broad spectrum of industries. From agriculture and tourism to veterinary services and technology, the survey showcases the interconnectedness of the equine world with other economic realms
- Employment boost. The survey reveals a substantial impact on employment with 2.2 million jobs linked both directly and indirectly to the equine sector. Not only are breeders, trainers, veterinarians, and farriers represented, but so are truck drivers, nutritionists, chemists, police officers, and journalists.
- A slight downshift in population. While there is a slight downshift in the total population of horses from 2023 (6.6 million) compared with 2017 (7.2 million), that’s only a slight consideration when compared to the growing numbers in jobs and expenditures.
The survey aims to demonstrate the value of the equine industry in the national and state economies by analyzing the direct, indirect, and induced economic impacts of horse ownership, recreation, and equine-related services.
Data collected will inform public and private investments in equine-related businesses, equine health care, education, land use decisions, tax policy, tourism, employment incentives, etc.
The AHC expresses gratitude to all participants, stakeholders, and partners who contributed to the success of the 2023 Equine Economic Impact Survey. The results not only underscore the industry’s economic significance but also serve as a foundation for informed decision-making and strategic planning within the equine community.
“The Economic Impact Study is the most effective tool in our advocacy quiver,” says Julie Broadway, president of the AHC. “When the industry needs to take aim at an issue, this data is invaluable in helping us paint the picture of the contributions the industry makes and the breadth & depth of its composition.”
To buy a copy of the study, visit the AHC website.
