Research the economics of making a career as an equestrian and write a Essay

Research the economics of making a career as an equestrian and write a 4 page paper about it - Essay Example In the US, one of the cities where the equine industry is booming is in the New York City. According to a study done in order to determine the economic impact of this industry in this city revealed that there are over 1.7 million equine divisions in the city. In 2011, the industry generated more than 4.2billion dollars. This, according to analysts is equals to creating 33, 000 full time jobs. The exact job impacts, however, totals 12, 903 direct jobs and 20,088 indirect jobs making a total of 32, 991 careers from the Equine industry in this city. The study also revealed that the equine industry has spread in the different counties in the cities meaning that they are not concentrated in one area. Racing was identified as one of the areas with the highest divisions with other careers such as training and breeding following suit. There are also jobs in the racing museums all located in this city (NYT Breeders). Economic impact of careers in this industry is either categorized as direct or indirect impact. Indirect impact is obtained from the direct expenditures that stem from the local vendors and the racing entities. Indirect or the induced impact, on the other hand stems from the high household incomes obtained from direct employment in the equine industry. Household spending makes sure that the money obtained is injected in the economy and that local activities are enhanced or funded as a result. The induced impact is also as a result of increased tourism and the availability of visitors who are willing to spend on businesses such as restaurants and gas stations (NYT Breeders). The major economic impact is obtained from breeders, racehorse owners and trainers. This is because their direct economic impact is 52% while jobs in this area are at 52%. Costs in this area are mainly related to horse care and farm care expenditures. Some of the fees included in these