Horse Industry's Econmic Impact
Although there are no definitive statistics, different studies in states of the EU give some idea of the horse industry’s revenue. European Horse Network (EHN) estimates that the total impact of the ”horse world” in Europe could be more than 100 billion euros a year.
This figure includes the direct economic impact of all parts of the horse industry (breeding, industrial companies and services linked to horses, education, research…) and the indirect and induced impact of the horse activities like organisation of events and betting (30 billion euros/year).
This total economic impact figure can be compared to the American figure calculated by the American Horse Council in 2005: 100 billion dollars a year showing that the EU is indeed an important world player in this international horse world.
Thus, in European Union, considering the direct industry revenue and the amounts of bets, the different governments are collecting at least 5 billion euros of taxes thanks to this industry.
Considering those figures, the present position of European horse industry in the world and the growing demand in developing countries, horse industry is an interesting economic sector for EU regional sustainable growth.
There are several interesting examples of economic clusters of horse businesses in EU regions providing significant and lasting regional development:
- Basse-Normandie in France has 10% of the whole French horse population, produces 20% of the foals and provides more than 10 000 jobs in horse industry. The yearling sales alone in Deauville in august 2010 have generated 26 million euros, and the World Equestrian Games are to be held in Normandy in 2014. The France's horse industry economic cluster is based in Normandy and develops links between research and companies toward innovative products and services.
- The KINCSEM" Horse Cluster - based in Kecskemét in middle of Hungary - the town itself is called the horse capital of Hungary and the horse cluster initiative concentrates on the education of all kind of horse races and activities. It provides major jobs factor in the region and regularly organised national and international horse events, and also exists to promote horse clusters at a European level and international cooperation.
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