With increases since 2017 in both the total value impacted and equine-related employment, the 2023 findings of the Equine Economic Impact Survey by the American Horse Council (AHC) reflect the positive contributions of the equine industry on the U.S. economy, the organization said via a release Wednesday.
The survey offers a comprehensive overview of the economic impact and trends within the sector and highlights how the industry reaches far beyond the pastures and ranch land across the country.
- Diverse Economic Sectors Impacted: $177 billion. That's the total value added in 2023 from the equine industry, 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.
- Slight Downshift in Population: While there is a slight downshift in the total population of horses from 2023 (6.6 million) compared to 2017 (7.2 million), that's only a slight consideration when compared to the growing numbers in jobs and expenditures.
“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 breath & depth of its composition.”
Click here to purchase a copy of the study.