Equestrian Industry Worth Billions to British Economy
For the past few years’ investors in the equestrian industry have been feeling the effects of the financial crisis the country has been going through. However, it seems that this has been changing over the past 18 months with profitability returning to its biggest high since 2008.
According to the British Horseracing Authority, the equestrian industry is worth £1.1bn to the UK economy, with the total indirect benefits coming to an eye-watering £3.4bn. Racecourses have generated £371m from spectators, sponsors and corporate customers. In addition, 15,000 racehorse owners have spent about £306m. The running costs of the UK’s 300 stud farms totalled £189m, bookmakers’ levy was £75m and media sales total £173m.