Early Evidence of the Economic Effects of COVID-19 on the Horse Show Industry in 2020.
Abstract: The COVID-19 pandemic affected the economic status of all sectors of the global economy including the horse show industry. Reporting the impact of COVID-19 on in-person horse shows and an early assessment of its impact on the economy was the objective of this study. A Qualtrics survey instrument was disseminated to horse show participants through social media pages and email (n = 251). A majority of respondents were females (95.6%) representing a cross-section of the United States (84.0%). Participants reported planning to attend an average of 9.7 (SD = 7.15) in-person horse shows in 2020 but were unable to attend an average of 4.17 (SD = 3.11) due to COVID-19 restrictions. Participants reported spending a mean of $991 (SD = $648.26) per show on horse show-related expenses, or $9,609 annually. The American Horse Council (2018) reported that 1,227,986 horses comprise the competition sector, with each horse owner showing 1.57 horses. This participation generates $7.5B in expenses annually. The reduced attendance at in-person shows resulted in a decrease in annual expenditures, suggesting economic losses of $3.23 billion. The quantified direct effects were used in the IMPLAN input-output model to estimate the total economic impact. The reduced attendance resulted in a reduction of $7.2 billion, and a reduction of approximately 50,000 jobs within the horse show industry. Additionally, the industry's contribution to GDP (value added) was reduced by $3.95 billion. Early assessments of the economic impact associated with a reduction of in-person horse showing is vital to understanding the long-term implications for the industry.
Copyright © 2021. Published by Elsevier Inc.
Publication Date: 2021-08-12 PubMed ID: 34670703DOI: 10.1016/j.jevs.2021.103734Google Scholar: Lookup
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- Journal Article
Summary
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This research paper uncovers and quantifies the economic effects of the COVID-19 pandemic on the horse show industry, focusing on the decrease in attendance at in-person events, and subsequent financial losses.
Research Objectives and Methodology
- The aim of this study was to evaluate and report on the early impact of the COVID-19 pandemic on the horse show industry, and particularly the effect of restrictions on in-person horse shows.
- A Qualtrics survey was used to gather data, distributed through social media and email, with a resulting sample size of 251 respondents.
Respondent Demographics
- The majority of the respondents were female (95.6%) and they represented a wide cross-section of the US (84.0%).
Usage of In-Person Horse Shows
- The participants in the study reported plans to attend an average of 9.7 in-person horse shows in 2020, however, due to COVID-19 restrictions, they were unable to attend an average of 4.17 shows.
Financial Impact on the Horse Show Industry
- The average reported spending per horse show was approximately $991, translating to an annual expense per participant of $9,609.
- The American Horse Council has stated that the competition sector includes 1,227,986 horses, with each owner showcasing 1.57 horses on average. This participation normally results in annual spending of around $7.5B.
- The decreased attendance at in-person horse shows in 2020, as a result of COVID-19, led to a significant fall in annual expenditure. The study estimates economic losses at around $3.23 billion.
Wider Economic Consequences
- The study used the IMPLAN input-output model to further analyze the broader economic impact of reduced horse show attendance.
- The findings suggest that the reduced attendance resulted in a $7.2 billion reduction in spending and cost approximately 50,000 jobs within the horse show industry.
- The study also found a reduction of $3.95 billion in the industry’s contribution to GDP (value added).
Importance of the Study
- Understanding the early economic impact of decreased in-person horse showing provides essential insight into the likely long-term implications for the industry, enabling the sector to plan and prepare more effectively for the future.
Cite This Article
APA
Huseman C, Walker N, McCorkle DA, Hanselka D, Cater M, Zoller J.
(2021).
Early Evidence of the Economic Effects of COVID-19 on the Horse Show Industry in 2020.
J Equine Vet Sci, 106, 103734.
https://doi.org/10.1016/j.jevs.2021.103734 Publication
Researcher Affiliations
- Texas A&M University, Department of Animal Science, College Station, TX.
- LSU Agricultural Center, School of Animal Sciences, Baton Rouge, LA. Electronic address: Nwalker@agcenter.lsu.edu.
- Department of Agricultural Economics, Texas A&M AgriLife Extension Service, The Texas A&M University System, College Station, TX.
- Department of Agricultural Economics, Texas A&M AgriLife Extension Service, The Texas A&M University System, College Station, TX.
- LSU Agricultural Center, Agricultural & Extension Education & Evaluation, Scott Research & Extension Center, Winnsboro, LA.
- Texas A&M University, Department of Animal Science, College Station, TX.
MeSH Terms
- Animals
- COVID-19 / veterinary
- Female
- Health Expenditures
- Horse Diseases
- Horses
- Industry
- Pandemics
- SARS-CoV-2
- United States
Citations
This article has been cited 2 times.- Kabir A, Lamichhane B, Habib T, Adams A, El-Sheikh Ali H, Slovis NM, Troedsson MHT, Helmy YA. Antimicrobial Resistance in Equines: A Growing Threat to Horse Health and Beyond-A Comprehensive Review. Antibiotics (Basel) 2024 Jul 29;13(8).
- Thompson JM, Kibler ML, Ivey JLZ. Financial strain of COVID-19 and its impact on willingness-to-pay for equine care. J Anim Sci 2023 Jan 3;101.
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