The new equine economy: growth in new sectors and activities in the 21st Century

Across Europe, most estimates of equine economic activity demonstrate that traditional activities such as racing and betting generate the largest amount of income (EHN 2007). There is, however, a growing realization that leisure use of horses in riding, whether for stress reduction, tourism or therapy is a field of economic activity which is growing along with the approximate seven percent annual growth of horses and riders (Vik & Farstad 2012). This significant growth involves evolutions of the equine sector and new questions about the role of equines in economic dynamism, culture, social links and rural development -- questions which reflect major changes in Society. Little is known about these new kinds of activities which involve new consumer demand for equestrian services, different needs for horse qualities/characteristics, questions about horse welfare linked to its evolving status ,to changes in human-horse relations, land management and physical planning, and to the Common Agricultural Policy. Given the importance of, and challenges faced by the horse industry, the number of studies devoted to the sector has begun to multiply internationally. What is this New Equine Economy? What questions does it raise? What new possibilities does it present to those who wish to make a living from their relations with horses? This presentation addresses these social and economic issues and marks a beginning to the task of defining the New Equine Economy in the 21st Century.