Market Analysis: China, Thailand, Japan, India, and the Middle East
Market Overview
The global equine industry has seen steady growth in the past five years, with traditional markets in Europe and the United States maintaining large, mature horse sectors. Worldwide, the equine industry’s annual economic impact is around $300 billion, supporting about 1.6 million jobs, with Europe accounting for roughly $133 billion and the U.S. about $102 billion. These regions boast millions of riders and well-established equestrian sports structures – for example, Germany alone has ~2.3 million riders, 1.25 million horses, and an equine sector worth €6.7 billion. In contrast, Asian and Middle Eastern markets for horses are comparatively nascent but expanding rapidly, leveraging rising incomes and growing public interest in equestrian sports.
China’s equine sector in particular has developed significantly over the past decade, especially following the 2008 Beijing Olympics which spurred local interest in equestrian sports. Between 2015 and 2020, China experienced an equestrian “boom” as new riding clubs opened and more people took up riding as a leisure activity. Japan, by contrast, has a long history of horse racing but a declining horse population for other uses (only ~68,000 horses in 2022, the lowest in a decade). Still, Japan’s racing industry remains one of the world’s largest, and its breeding programs have produced internationally competitive racehorses in recent years. India’s equine industry has seen incremental growth – it has a well-established racing circuit dating back over 200 years, but equestrian sports remain niche outside military circles. Meanwhile, Thailand and the Middle East are emerging as new focal points.
Thailand has a modest horse industry today, yet plans are underway to transform it into a regional racing hub as Singapore’s turf club closes. In the Middle East, oil-fueled economies (notably the UAE, Saudi Arabia, and Qatar) have heavily invested in horses over the past five years, launching high-profile racing events and equestrian facilities that position the region as a growing global equine center. Despite the COVID-19 pandemic briefly disrupting events and international horse trade in 2020, these markets have rebounded quickly.
The past five years have set the stage for robust growth in Asia and the Middle East’s horse industries - growth that is now accelerating on the back of strategic investment and rising public enthusiasm.
Economic Impact (GDP, Employment, Tourism)
The economic contribution of the equine industry varies widely across these regions, but its significance is rising. Globally, horses contribute to a wide value chain – from breeding and farming to sports, tourism, and media – estimated at $300 billion annually. In mature markets this impact is substantial (the UK, for example, sees roughly £8 billion added to its economy each year from about 1 million horses). By comparison, the target regions are smaller in absolute terms, yet they are growing fast and creating new jobs and revenue streams. China’s horse industry was valued at roughly $1.58 billion in recent analyses. This includes spending on equestrian clubs, training, and equipment, and reflects a surge in consumer interest. Indeed, 2019 was the first year China published comprehensive equine stats – counting 2,160 registered riding clubs and ~682,000 riders nationwide – indicating a rapidly expanding base that drives economic activity in coaching, feed, tack, and club services. Chinese policymakers view the horse sector as a unique industry that spans primary, secondary, and tertiary sectors (breeding agriculture, manufacturing of gear, and services like tourism), with potential to create jobs and boost domestic demand.
In India, the economic footprint of horses comes largely from racing and traditional uses. The racing and breeding sector alone employs an estimated 50,000–60,000 people across India, from jockeys and trainers to grooms and farm workers. There are nearly 100 thoroughbred stud farms in India catering to racing, and ancillary industries (feed suppliers, farriers, leather goods makers) add further employment – for instance, Indian tanneries in Kanpur produce saddlery for export to Europe and the US. While exact GDP contribution is not well documented, the indirect impact on rural livelihoods (through horse breeding in regions like Punjab and Rajasthan) and on urban economies (via racecourse betting turnover and tourism at major derbies) is significant. Similarly, Thailand’s horse industry has been small but present – about 11,800 horses were owned privately (mainly for racing and leisure riding) before a 2020 disease outbreak – supporting a niche equestrian tourism segment (such as beach horseback riding for tourists) and local employment at stables. Although Thailand’s current economic contribution is modest, plans for new racecourses and equestrian centers imply a future uptick in jobs and revenue (e.g. construction, hospitality, and betting-related income if wagering is legalized).
In the Middle East, horses are both a passion and an economic strategy. In the UAE, the equine sector is considered a “promising industry” and is supported by significant spending. Recent figures show that annual spending by equestrian clubs in the UAE averages AED 367 million ($100 million), and about AED 2.1 billion ($570 million) is spent each year just on training racehorses. This investment trickles through to many parts of the economy – from salaries for trainers and veterinarians to construction of world-class facilities like Dubai’s Meydan Racecourse. Major horse events have a tourism impact as well: The Dubai World Cup (a premier race) draws around 60–80,000 spectators on race day, filling hotels and restaurants. Equestrian sports contribute to the UAE’s sports sector, estimated around $2.4 billion. In Saudi Arabia, the government explicitly links equestrian development to Vision 2030 goals of diversifying the economy and boosting tourism. The creation of marquee events like the $20 million Saudi Cup (the world’s richest horse race) has begun to elevate Saudi Arabia’s international profile, aiming to attract overseas visitors and media attention. Qatar likewise leverages horses for soft power and economic benefit: it has invested heavily in racing and showjumping, sponsors global equine events, and is expanding its racing infrastructure. All told, the Middle East’s equine activities generate billions in indirect value – from luxury retail during big events to year-round employment at royal stables – even if direct GDP figures aren’t always reported.
Another facet of economic impact is equestrian tourism. Regions are increasingly using horse heritage and events to drive tourism receipts. For example, Saudi Arabia is developing the AlUla equestrian village (with racetracks, polo fields, and stables) targeting 120,000 visitors annually by 2035 as part of a luxury tourism strategy. Such projects integrate culture, sport, and hospitality, indicating how horses can boost local economies beyond traditional metrics. In summary, while Europe and the US still dominate in sheer size of the horse industry, China, Thailand, Japan, India, and the Middle East are seeing growing economic benefits from equine pursuits – through job creation, contributions to GDP (China’s ~$1.6 billion, etc.), and enhanced tourism and cultural exports. These regions are recognizing the horse industry as not just sport or leisure, but a driver of economic diversification and rural development.
Breeding and Sales Dynamics (Domestic & International Trade)
Breeding patterns in these markets reflect a mix of longstanding traditions and new developments. Japan stands out as having a very mature domestic breeding industry, especially for Thoroughbred racehorses. As of 2021, Japan had 785 breeding farms with broodmares, of which 717 (over 91%) were concentrated in Hokkaido’s favorable climate. Japanese breeders have systematically improved bloodlines by importing elite stallions and mares since the 1980s, resulting in Japanese-bred horses that now win top races worldwide. With 251 Thoroughbred stallions at stud in Japan (61 imported, 190 locally bred), the country is largely self-sufficient in producing racehorses, and even exports some to other racing nations. This robust breeding sector supports an active sales market: annual foal crops are sold through well-attended auctions, and the domestic racehorse sales focus on quality replacements for an aging race population. Japan’s emphasis on breeding for speed and stamina (e.g. descendants of the famous stallion Sunday Silence dominating sire rankings) has paid off both in racing success and in sustaining a profitable bloodstock market.
India also has a well-established horse breeding and sales framework, centered on racing. The Indian Stud Book records Thoroughbred lineage and the country enforces a rule that only India-bred horses can race domestically. This protectionist rule has cultivated a local breeding industry with nearly 100 stud farms operating across the country. Indian breeders import quality stallions from abroad and breed them to domestic mares, aiming to produce classic winners for India’s Derby and Oaks races. While Indian-bred horses are generally not yet competitive internationally, the domestic sales market is active – yearling auctions supply the next generation of racehorses to the nation’s nine racetracks. However, breeding as a business in India faces challenges like high costs and limited economies of scale; many stud farms are passion projects of wealthy owners. There is also interest in indigenous breeds (like Marwari and Kathiawari horses) for domestic use – though these breeds are not part of the international sport market, they have niche export demand and cultural value. Trade-wise, India is largely self-contained: It imports stallions and feed supplements but exports few horses (government restrictions historically limited export of native breeds to preserve them). Thus, India’s breeding and sales dynamic is internally focused, with potential to grow if racing expands or if native breed tourism gains traction.
In China, breeding and trading dynamics are in flux. Historically, China had a massive horse population (over 11 million in the 1980s when horses were essential for agriculture and transport), but that number has plummeted to around 3.6 million today as mechanization replaced working horses. The modern Chinese horse industry is pivoting from utilitarian horses to sport horses, but domestic breeding is still limited. A key bottleneck is that mainland China bans pari-mutuel horse racing and betting, which removes the financial incentive structure that typically drives large-scale Thoroughbred breeding. Without a vibrant racing circuit, China’s breeding activity has focused on FEI-affiliated sports (show jumping, dressage, eventing) and leisure riding. Many wealthy Chinese riders have simply imported horses from Europe or Australia, as reflected in trade data – China was not a top exporter but was increasingly active in horse imports. However, the Chinese government recognizes this gap and has signaled plans to support local breeding to reduce reliance on expensive imports. For example, initiatives in regions like Inner Mongolia and Xinjiang seek to revive horse breeding, and there are pilot programs (in Hainan province’s free trade zone) that may introduce regulated racing and thereby stimulate a breeding industry. Currently, though, high-end competition horses in China are largely imported, and prices are steep – contributing to the high cost of equestrian sport in the country. On the trading front, Chinese buyers have become notable at international horse auctions, acquiring show jumpers and even racehorses to ship home. As equestrian sports gain popularity in China, expect more international trade (both imports of horses and expertise, and potentially future exports if Chinese breeding improves).
The Middle East is characterized by import-driven growth in its sport horse population, alongside preservation of historic bloodlines. Nations like the UAE, Saudi Arabia, and Qatar have relatively harsh climates for horse breeding (extreme heat and limited grazing), so they historically imported the majority of their sport horses. For flat racing, Gulf owners source Thoroughbreds from established breeding centers – a noted example: Thailand’s new racing venture anticipates 80%+ of its racehorses will be imported from Australia or New Zealand, following the model of Singapore. The UAE’s ruler, for instance, spends millions at European and North American yearling sales to acquire top bloodstock. As a result, the Middle East has some of the world’s finest racing horses, but bred elsewhere. Once in the region, these horses enter local stud in small numbers; there are a handful of Thoroughbred breeding farms (e.g. in Saudi and Dubai) but scale is limited. On the other hand, the Middle East is famed for breeding Arabian horses, an age-old tradition. Arabian horses are bred for endurance racing and show competitions – Qatar and the UAE host prestigious Arabian horse shows, and local breeders compete to produce champions with perfect phenotype. This has created a specialized export market: Arabian show horses bred in the Gulf are sometimes sold to international buyers drawn by their prized bloodlines, and vice versa (Arabian breeders also import horses from Western bloodlines to diversify). The international trade in horses sees the Middle East as a major buyer: for example, the UAE imported about $22.6 million worth of horses in 2023, ranking among the top 20 importers globally. Conversely, its exports were around $6.9 million, often re-exports of horses or sales of locally trained endurance horses to other countries. A telling case is the endurance sector: enterprising breeders from South America (like Uruguay) sell endurance horses to Gulf buyers at double domestic prices, because a horse that might fetch $20,000 in Uruguay can sell for $40,000 in the UAE given the high demand and willingness to spend on quality mounts. This dynamic - Gulf demand driving global horse trade - underscores how Middle Eastern investment propels the international market for performance horses.
Thailand’s breeding and sales side is currently minor, but on the cusp of change. With only a few thousand horses nationally, breeding has been limited to polo ponies and some racehorses. The Thai King’s stables and a few private farms maintain Thoroughbred and Arabian breeding programs, but Thailand historically imported many horses (including retired Australian racehorses for local racing or riding). However, as the country eyes becoming a racing hub, there is interest in developing a Thai Stud Book and improving local breeding. The Thailand Horse Racing Association has a Stud Book manager and is consulting on how to “raise the level of racehorses” domestically. In the short term, though, any expansion of racing will rely on imported stock, which presents a business opportunity for global bloodstock agents. Already, international breeders are scouting Thailand as a new client; for instance, Australian and New Zealand breeders anticipate increased sales to Thai owners as new racecourses come online. Thailand could also capitalize on Southeast Asia’s climate by breeding a regional type of racehorse or polo pony, but that will require significant investment and expertise transfer.
In summary, international trade trends reveal that Asia and the Middle East are net importers of quality horses, fueling sales at major auctions in Europe, North America, and Australia. Japan has moved from being an importer to an exporter of elite racehorses (a mark of its breeding success), whereas China, India, and Thailand still depend on imports to improve their stock. Global bloodstock flow is increasingly multi-directional: Affluent buyers from China and the Middle East have become prominent at auction rings, while expertise (trainers, bloodstock agents, veterinary know-how) is being traded as well, with Western professionals taking up roles in these emerging markets. Over the next decade, we can expect domestic breeding in these regions to grow as they seek more self-reliance – China has explicitly prioritized boosting breeding capacity – but the interdependency with global equine hubs (for genetics, technology, and trade) will remain strong.
Riding Schools, Pony Clubs, and Equestrian Club Memberships
Grassroots participation through riding schools, pony clubs, and equestrian clubs has been rising in all these regions, though from different starting points. China has seen an explosion of riding clubs in recent years. By 2019 there were 2,160 registered equestrian clubs in China with an average of 316 members each. These clubs – ranging from modest riding academies to luxury equestrian centers – together accounted for roughly 682,000 riders nationwide. This is a remarkable figure, considering organized riding was relatively rare in China two decades ago. Many of these riders are youth: Riding has become a trendy extracurricular activity for children of affluent families in major cities (often akin to learning piano or golf). However, the rapid growth also highlights a gap – nearly 19% of Chinese clubs rely on foreign instructors, indicating a shortage of local trained coaches. Pony clubs (in the Western sense of structured youth riding organizations) are still emerging in China, but initiatives to introduce riding in schools and the formation of junior leagues are underway. The Chinese Equestrian Association, under the State General Administration of Sports, has been promoting youth riding camps and inter-club competitions, which is slowly normalizing equestrian sports among the younger generation. The challenge is to make riding affordable beyond the elite; currently, lessons in China can be several times more expensive than in Europe due to the cost of imported horses and instructors. Still, the foundation of club infrastructure built in the last 5 years provides a platform for wider participation if costs decrease over time.
India’s riding and equestrian club scene has historically been dominated by the military and police (many clubs are army riding centers dating back to the colonial era). In recent years, however, civilian interest has grown modestly, with new private riding schools cropping up in metro areas like Delhi, Mumbai, and Bengaluru. The Equestrian Federation of India (EFI) now has over 1,200 individual members and more than 300 affiliated clubs across the country. Many of these “clubs” are actually military units or police academies with equestrian programs (as the Army’s Remount and Veterinary Corps is deeply involved in the sport), but there is a rising number of private clubs as well. For example, riding academies offer lessons and horse boarding for enthusiasts, and some schools and colleges have equestrian teams. Pony Club culture (as seen in the UK) is not widespread in India, but some clubs run kids’ programs and small local shows. The member base remains small relative to India’s population – equestrian sport is still considered elitist and the EFI’s membership in the low thousands illustrates that – but it is growing. Significantly, India’s equestrians have started making a mark regionally (India won its first equestrian Asian Games gold medal in decades in 2023, sparking national interest), which may drive more youth to riding schools. The key will be expanding access beyond the Army’s domain and into civilian sports culture. Encouragingly, riding facilities are now part of some urban sports complexes and a few pony clubs have been modeled on international lines to teach children horsemanship. Going forward, India’s large youth demographic could be a reservoir of talent if riding becomes more accessible.
Japan has a bifurcated equine participation: On one hand, horse racing betting is extremely popular among the public; on the other, recreational riding is relatively niche. The Japan Equestrian Federation oversees Olympic disciplines and has a network of riding clubs, but the total number of registered riders is modest (likely a few thousand active competitors in dressage, showjumping, etc.). Japan’s total horse population is ~68,000, which includes racehorses, breeding stock, and some horses for riding clubs or rural work. The limited land availability and high cost of horse-keeping in Japan’s urban centers constrain widespread riding. Nonetheless, there are riding clubs (often in suburban areas or islands like Hokkaido) that cater to enthusiasts. University equestrian clubs are one avenue where youth get involved – several Japanese universities have riding teams that practice low-level jumping and dressage. Additionally, “Pony Parks” or petting farms exist, which allow children to ride ponies for leisure, albeit more as tourism than formal instruction. FEI-affiliated sports clubs in Japan focus on preparing riders for international competition; Japan regularly fields riders in the Olympics and Asian Games, which has created a small but dedicated community. Compared to the other regions, Japan’s riding school sector is stable but not high-growth – it’s a mature market with a plateauing number of participants (owing partly to an aging society and urbanization). However, the success of Japanese riders on the world stage (and the exposure from Tokyo 2020 Olympics equestrian events) has inspired some interest, and initiatives like riding therapy programs are adding a new dimension. In sum, Japan’s equestrian clubs provide quality training to a limited audience; the challenge is expanding the base beyond the traditional cohort of hobbyists and wealthy owners.
Curious how Japan is rising in Olympic disciplines like eventing and showjumping? Explore the factors behind their quiet equestrian revolution in our article here.
Thailand has only a handful of riding schools and pony clubs, but they form the seed of a potentially larger base. Historically, equestrian sport in Thailand was a minor pursuit, with the Royal Bangkok Sports Club being the most prominent institution (hosting both horse racing and riding activities for over a century). Outside Bangkok, a few tourist areas offer riding (such as beach rides in Pattaya or trail riding in Chiang Mai’s hills) but these are leisure-oriented. There are some equestrian clubs that follow the English riding system – for example, the Thai Polo & Equestrian Club in Pattaya, which not only caters to polo players but also hosts international showjumping and dressage competitions annually. Thailand has had representation in FEI events and even the Olympics (e.g. Thai riders in showjumping), which has led to the formation of a national equestrian federation that supports some riding programs. Pony Clubs in the formal sense are limited; however, Thai elite schools occasionally run pony camps and there is growing interest among the youth, especially those who study abroad and return with riding experience. The key driver for expansion could be the planned racing and equestrian centers: If Thailand builds a large racecourse complex as proposed, it often comes with training tracks and riding academies that can double as public riding facilities. Additionally, the influx of expatriates and international businesses in Thailand has brought more foreign riders into the country, some of whom establish or coach at local riding schools. Membership numbers are currently low – perhaps only a few hundred active competitive riders in the country – but there’s enthusiasm to change that. The plans to professionalize horse racing also include broader equine education, which could trickle down to more riding schools and clubs for general horsemanship.
In the Middle East, equestrian clubs and riding schools have flourished under royal patronage. The UAE has numerous riding clubs (e.g. Emirates Equestrian Centre, Abu Dhabi Equestrian Club, Sharjah Equestrian Club) that offer lessons in showjumping, dressage, and endurance. These clubs often enjoy state-of-the-art facilities and are subsidized to encourage public participation. However, like elsewhere in this region, a lot of the focus has been on competitive excellence and hosting big events rather than mass membership. Still, initiatives have broadened access: For example, Dubai’s Equestrian Centre runs programs for school children and has “pony club” activities on weekends. The Emirates Equestrian Federation lists dozens of endurance stables and racing stables (87 racing stables noted in one report) and about 2,000 active endurance horses in the country. While endurance riding is a specialized sport, those numbers indicate a wide base of riders (especially from the local Bedouin communities) involved in at least one form of equestrian activity. Saudi Arabia and Qatar are catching up on the club front: Saudi Arabia in recent years has opened more riding academies and even started to include women – a notable shift, as young Saudi women are now training to be jockeys and riders, spurred by role models and dedicated championships. Riding schools in Saudi Arabia (like the King Abdulaziz Equestrian Center) are experiencing higher enrollment as equestrian sports gain social acceptance for both genders. Qatar’s Al Shaqab equestrian center is another example – a world-class facility that doubles as a national riding school and international competition venue. Across the Middle East, club membership is often exclusive (by invitation or expensive), but public interest is being kindled via spectator events and outreach. Pony clubs for youth are emerging – for instance, “Mahra” initiative in the UAE encourages children to start riding and caring for ponies, reflecting a cultural pride in horses and a desire to pass it to the next generation. The Middle East’s combination of top-down support and cultural affinity suggests that riding schools and clubs will continue to grow. The region is positioning not just to host events, but to develop home-grown riders: partnerships with foreign federations (e.g. French riding schools helping train Saudi riders) are helping raise instructional standards. As more Middle Eastern riders compete internationally, it will likely fuel even greater grassroots participation at clubs and academies back home.
The Horse Racing Market and Its Contribution
Horse racing is a cornerstone of the equine industry in several of these regions, though its status ranges from a major economic engine in some countries to virtually non-existent in others due to legal or cultural factors. Globally, horse racing is big business – valued at about $402 billion in 2022 and projected to reach $794 billion by 2030 (CAGR ~8.9%) – driven by wagering, sponsorships, and media. This global context is useful for comparison as we examine each region’s racing scene:
Japan
Japan’s horse racing market is one of the largest and most sophisticated in the world. The Japan Racing Association (JRA) runs racing at major tracks and reported betting turnover of ¥3.269 trillion in 2022 (~€22.7 billion), making it the highest betting turnover worldwide for horse racing. In 2024, turnover was around ¥3.31 trillion, indicating steady growth. This immense wagering activity contributes substantial tax revenue and funds for the racing industry. Racing in Japan is a well-oiled system: Roughly 15,000 races are held annually nationwide (including the JRA and local NAR circuits), and events like the Japan Cup draw international competitors. The racing industry’s contribution includes prize money that is among the richest in the world – for example, the average purse per race in Japan is very high, attracting top jockeys and horses. Japan’s racing is also a major employer (tens of thousands work as trainers, stable staff, officials) and has spawned related industries (broadcasting, betting technology, breeding as covered earlier). Unlike some countries, Japan does not allow on-track bookmakers, only pari-mutuel betting, and it has tightly integrated betting operations with state oversight, which has ensured that a significant portion of betting turnover recirculates into the economy and public funds. In terms of its contribution to sport, Japanese horse racing has put the country on the map – Japanese racehorses and jockeys now frequently compete (and win) abroad, enhancing Japan’s reputation in the global racing community.
Middle East (UAE, Saudi Arabia, Qatar)
In the Middle East, horse racing is less about betting turnover (since gambling is largely prohibited for the local population) and more about prestige, nation-branding, and tourism. Dubai, UAE established the Dubai World Cup in 1996, which by 2010 was the world’s richest horse race at $10 million purse. It has since been raised to $12 million, only recently surpassed by Saudi’s race. The UAE hosts a full racing season (flat racing at Meydan and Jebel Ali in Dubai, Abu Dhabi, Sharjah, etc.), but with no legal betting for residents, the funding comes from government and sponsorship. Despite that, the prize money levels in UAE races are the highest globally on average (circa 2010 an average UAE race offered €100k in prize, higher than any other jurisdiction). This indicates that racing is run as a “lucrative hobby and business” for the state and elites rather than a gambling enterprise. The contribution of racing in the UAE is thus indirect – it boosts the country’s sports tourism (thousands of international visitors come for marquee events), supports a luxury hospitality sector around big race days, and provides employment (each stable, of which there are dozens, hires grooms, riders, etc.). The UAE’s model has made it a global racing hub each winter, complementing the European racing calendar and drawing horses from around the world to compete. Saudi Arabia, a relative newcomer, launched the Saudi Cup in 2020 with a record purse (now $20 million to the winner). This instantly put Saudi on the racing map and aligns with their Vision 2030 to create high-profile entertainment that can attract global attention and tourists. Saudi also has a domestic racing circuit (at King Abdulaziz Racetrack in Riyadh and others) and a long tradition of Arabians racing, but it’s now rapidly professionalizing Thoroughbred racing. The Saudi Cup event weekend includes an International Jockeys Challenge (notably including female jockeys, which is groundbreaking in the kingdom). While locals cannot bet, international betting on Saudi races is facilitated through foreign betting pools, bringing some revenue and certainly prestige. Saudi racing’s contribution is measured by increased international engagement and internal social change – e.g. more Saudi women participating in racing careers as a result of the high-profile events. Qatar has a smaller racing scene in Doha (at Al Rayyan track), with no betting but strong state support. Qatar’s contribution to racing is often through sponsorship abroad (Qatar sponsors races like the Prix de l’Arc de Triomphe in France) and through high-profile ownership (Qatari owners have won some of the biggest races worldwide). This strategy brings soft power and international connections. In all, Middle Eastern racing contributes to the economy mainly via government spending turning into jobs and event-driven commerce, and contributes to national pride and international standing.
China
Mainland China currently has no legal betting on horse racing, and thus a very limited horse racing market. This is a crucial point: earlier attempts at horse racing in China (e.g. in Wuhan and Chengdu) have been strictly exhibition or lottery-based and never allowed open wagering. As a result, the kind of industry seen in Hong Kong (where horse racing betting is huge) has not materialized in the mainland. Horse-racing is effectively banned in mainland China since the Communist Revolution (aside from a brief experiment with a lottery in Wuhan in the 1990s). Thus, the contribution of horse racing to China’s economy is minimal today – there are no nationwide betting revenues or major race meets. However, there are signs of change: Hainan province has been authorized in principle to explore sports lotteries (including horse racing betting) as part of a free trade zone initiative. If China were to legalize and regulate racing, the market could boom given China’s population and enthusiasm for gambling (witness Macau casinos or underground betting). Even without betting, some Chinese cities hold racing-style events (Beijing’s Jinma Equestrian Park hosts club-level races, and Wuhan’s racecourse still operates as a training center). Hong Kong and Macau remain the outlets for Chinese horse racing fans – Hong Kong’s racing turnover rivals Japan’s, despite only ~18,000 horses, indicating the latent interest. In the near term, horse racing’s contribution in China is through related industries: the prospect of a future racing industry is already driving investment in training facilities (like the HK Jockey Club’s training center in Conghua, Guangdong, which hosts Hong Kong race meets without betting). Also, wealthy Chinese owners participate in overseas racing (e.g. owning horses in partnership in Europe), so there’s capital outflow as well. In summary, China’s horse racing sector is potential rather than actual – a sleeping giant that, if awakened by regulatory change, could become a major economic contributor (through gambling taxation, tourism at race events, and a stimulus to breeding). Until then, its absence is actually a challenge for China’s broader horse industry, as noted earlier: without racing to promote horse breeding, China struggles with high horse prices and slower industry growth.
India
Horse racing in India is a long-standing sport – over 200 years old with the first racecourse established in 1777. Today, racing is conducted on nine tracks under six turf authorities across India, making it fairly well spread geographically. Indian racing operates with a hybrid betting system: mostly pool betting (tote) and, in some places, licensed bookmakers on-course. Betting on horse racing is legal under a Supreme Court ruling that classifies it as a game of skill, but it is heavily taxed and strictly regulated by state governments. As a result, the formal betting turnover is relatively modest compared to global centers – estimates put total annual turnover around a few hundred million USD (far smaller than Japan or UK). An interesting facet is a significant black-market betting (illegal off-course bookies) which was noted to be on the rise in 2018, indicating unmet demand. The economic contribution of Indian racing includes the jobs mentioned (50-60k employed in breeding/racing), and a network of supporting industries (veterinary services, feed, transport, media coverage on racing days). Major racing events like the Indian Derby in Mumbai attract sponsorships from corporations and are social highlights, contributing to hospitality and tourism in those cities. However, racing in India faces challenges like high GST (Goods and Services Tax) on betting, which has driven some punters away or underground, thus limiting revenue that flows back to the sport. Despite that, India’s horse racing remains an important part of its equine sector – it essentially bankrolls the breeding industry and keeps many traditional skills alive (jockey training, farriery, etc.). Culturally, it’s more accepted as a sport of the elite, but efforts are being made to broaden its appeal and improve its image (for example, transparency measures to combat doping and improve horse welfare, responding to criticisms by animal welfare groups). Going forward, modernization (like introducing online betting or improving the tote system) could increase racing’s contribution by bringing wagering into the formal economy. If India can replicate even a fraction of Japan’s or Britain’s betting system efficiency, the market could grow substantially, given the country’s vast population of potential racing fans.
Thailand
Horse racing in Thailand has existed since the late 19th century, but it has traditionally been a limited affair. Until recently, Bangkok had two racecourses (the Royal Bangkok Sports Club and the Royal Turf Club at Nang Loeng). However, in 2018 the Royal Turf Club was closed by order of the Crown (its land repurposed into a public park). This left only the Royal Bangkok Sports Club (RBSC) conducting races, roughly twice a month, essentially as a private/members’ event. Betting in Thailand on horses is legal but was largely confined to on-course betting at these clubs. The scale was small, and with one track remaining, the industry nearly became a footnote. Now, however, Thailand’s racing market is poised for strategic expansion. Influential investors are pushing plans to build a new world-class racecourse in Bangkok, with capacity for 1,500 horses and regular weekly race meetings. A Memorandum of Understanding has been signed to secure land near Bangkok’s airport for this purpose. The vision, as articulated by backers, is to model the system on Hong Kong and Singapore, aiming to attract large local crowds (Thailand’s 72 million population is seen as a huge advantage). If successful, this could transform Thailand into a regional racing hub, potentially filling the void left by Singapore’s exit from the sport in 2024. Thai society has a known penchant for gambling, and proponents argue that if racing is run professionally and transparently, Thais “would support racing in droves”. The potential contribution of a revitalized Thai racing market includes domestic employment (from trainers to tellers), new tourism draws (imagine Bangkok as a destination for international racing enthusiasts), and tax revenue from legalized betting. Initial plans suggest prize money at the new track could start at levels similar to Malaysia and then grow to approach Singapore’s former levels within a few years. Regulatory frameworks (like obtaining a betting license and totalisator system) are being pursued alongside construction, indicating a holistic approach to make racing a viable industry. Additionally, there are talks of building multiple tracks regionally and creating a Thai racing circuit. If these plans come to fruition by, say, 2026-2027, Thailand’s horse racing could swiftly move from a minimal contributor to a significant player in the economy, with spillover benefits to breeding, training, and even international simulcasting of Thai races. For now, racing’s contribution in Thailand remains modest, but it’s an area to watch for strategic growth.
In summary, horse racing’s contribution to these regions is very uneven: Japan and the Middle East are major contributors in different ways (Japan via massive betting turnover and self-sustaining industry; Middle East via state investment yielding high-profile events and associated economic activity), India and (potentially) Thailand are moderate contributors with room to grow (if regulatory and infrastructure challenges are addressed), and mainland China currently contributes little via racing due to legal bans (though that represents an untapped opportunity). Each market’s racing sector also influences its broader equine industry: Where racing is strong (Japan, UAE, Saudi, India to an extent), it underpins breeding, training, and public interest; where it is absent or weak (China, Thailand historically), other segments like equestrian sports must carry more of the load to sustain the horse economy. A notable point of context is how these compare to global hubs: For instance, Britain’s racing industry contributes around £4 billion in gross output with extensive employment and is a model of an integrated betting-sport ecosystem. The emerging markets are aiming, each in their own way, to capture some of that scale or at least leverage racing to spur economic and social benefits.
Challenges in Developing the Equine Industry
Despite the growth and optimism, each region faces significant challenges in building a sustainable and mature equine industry. These challenges span infrastructure deficits, regulatory hurdles, cultural perceptions, and more.
Regulatory and Legal Barriers
A foremost challenge is the legal framework around horse sports and betting. China’s ban on horse race betting in the mainland is a prime example – it stifles the development of a lucrative racing sector and the vast associated value chain. Without betting revenue, it is difficult to fund large-scale racecourses or incentivize domestic horse breeding. Similarly, India’s heavy taxation and periodic legal battles over racing and betting create uncertainty and limit growth (the sport often faces court challenges or bureaucratic interference, and the national federation EFI has struggled with governance issues, including being de-recognized by the national Olympic association at times). In Thailand, until recently, government interest in regulating or expanding racing was minimal, and gambling laws are strict – any misstep in managing legalized betting could trigger public or political backlash given historical anti-gambling sentiments. Middle Eastern countries face a different regulatory landscape: Gambling is largely prohibited due to religious reasons, so the racing industry must be entirely subsidy- and sponsor-driven.
This is a challenge for long-term financial sustainability – it relies on continued state patronage. Additionally, the Middle East has strict import/export quarantine regulations to prevent diseases, which can complicate international competition (horses have to spend weeks in quarantine moving in and out for events).
Infrastructure and Facilities
Building and maintaining equestrian infrastructure is capital-intensive. India and Thailand in particular need major upgrades: Many Indian riding clubs have antiquated facilities, and even some racecourses (e.g. Kolkata or Chennai) are in need of modernization. There is a lack of sufficient training facilities, arenas, and veterinary hospitals in these countries, especially outside the biggest cities. For instance, a young rider in India may not have access to an all-weather riding arena or modern stables in their region, limiting their progress. China, while it has seen lots of clubs open, still faces uneven quality – outside a handful of showcase equestrian parks (like the Equuleus club in Beijing or the Shanghai equestrian center), many clubs lack professional footing, proper jumps, or certified instructors. Additionally, China’s remaining horse racing tracks (e.g. in Wuhan or Inner Mongolia) are under-utilized and not up to international standards after years of dormancy.
In Middle Eastern countries, the climate poses an infrastructural challenge: Maintaining grass racecourses or polo fields in desert environments requires enormous water and turf management. During the hot season, outdoor activities are limited; thus, indoor or night facilities are needed (for example, Qatar has air-conditioned indoor arenas and the UAE often holds endurance rides at night or very early morning). The expense of keeping these facilities world-class is ongoing. Also, as these regions expand events, they need supporting infrastructure – horse transport networks, quarantine stations, breeding farms – which are still underdeveloped in Asia. The 2020 outbreak of African Horse Sickness (AHS) in Thailand exposed the vulnerability of infrastructure: Thailand had to ban all horse movement for 90 days and scramble to vaccinate, revealing gaps in biosecurity measures. This incident was a wake-up call for Asia on the need for better veterinary infrastructure and emergency response systems for equine diseases.
Expertise and Human Resource Gaps
A modern equine industry requires skilled professionals – from farriers and veterinarians to riding instructors, stewards, and event managers. Many of these regions suffer shortages in local expertise. China relies heavily on foreign coaches and managers (nearly 19% of Chinese clubs had foreign instructors in 2019). Veterinary medicine specializing in equines is still developing; there are few specialized equine vet hospitals (Hong Kong Jockey Club has even been helping train mainland vets). India produces many veterinarians, but few specialize in horses (most focus on cattle or pets), leaving a dearth of expertise in equine surgery or sports medicine. Likewise, professional farriers (horseshoers) are in short supply in India and China, often requiring international experts or ad-hoc training of local blacksmiths. Japan and the Middle East have addressed some of this by importing expertise – for example, top international jockeys and trainers regularly work in Japan and the Gulf, transferring knowledge. But relying on expats can be costly and not a permanent solution; training local talent remains a challenge. Moreover, sports administration expertise is needed: The EFI in India has been criticized for being run by army officers with limited sports management training, rather than professional sports administrators, affecting its efficiency and outreach. In Saudi Arabia, opening up roles for women and youth in racing is a new venture – they need to develop these human resources with proper mentorship. Overall, capacity-building in equine professions is an ongoing challenge that directly affects industry quality and growth speed.
Cultural Perceptions and Audience Development
Another challenge is building a broad-based cultural acceptance and interest in equine activities. In China, horses are not a traditional recreational animal for most people – historically they were tools of labor or warfare. Changing the perception to horses as companions, athletes, or a leisure pursuit takes time. The sport is still seen as elitist or “Western,” and outside cosmopolitan circles, there may be limited understanding or appreciation of equestrian sports. This can affect everything from attracting new riders (convincing parents in second-tier cities to send kids to riding lessons) to gaining spectators for events. India faces a similar perception issue: Equestrian sports (showjumping, dressage, eventing) are largely seen as army or royal pastimes, not something the average person engages in. Horse racing, meanwhile, often carries a social stigma linked to gambling and animal welfare concerns – NGOs like Beauty Without Cruelty periodically campaign against racing practices. If the public views racing as cruel or corrupt, it’s harder to grow attendance and fan engagement. Changing these perceptions requires better marketing of the sport, assurance of animal welfare, and showcasing positive aspects (for instance, how racing supports jobs or how riding can instill discipline in youth). The Middle East has a deeply ingrained horse culture, which is a plus, but they face their own nuance: for some conservative segments, mixed-gender sports or women riding might have faced resistance in the past (though this is rapidly evolving). Also, while the elite celebrate equestrian sports, the general public might not be engaged beyond marquee events. Encouraging locals (not just expats or tourists) to attend showjumping competitions or polo matches is a challenge – it requires cultivating interest at the grassroots.
Financial Sustainability and High Costs
The equine industry is capital- and cost-intensive. Keeping horses, training, competing – all require significant money. In emerging markets, the high cost of participation is a barrier to entry for many. For example, the average cost of a competition horse in China is exorbitant because so many are imported; this trickles down to make riding lessons and club memberships very expensive. Only wealthy individuals can afford it, limiting the talent pool and domestic consumer base. Similarly, in India, owning a horse or even taking regular lessons is beyond the means of most middle-class families. If the industry remains the domain of the elite, it risks stagnation. Financial viability of equine businesses (clubs, studs, racing operations) is also challenging. Without robust revenue streams (betting, sponsorship, large customer base), many clubs run at a loss or break-even. For instance, numerous small riding schools in India or China likely survive on thin margins, making them vulnerable to closure if any economic downturn occurs. In the Middle East, the model has been top-down funding; while currently budgets are ample (thanks to state support), there is always the question of long-term sustainability if priorities shift or if oil revenues fluctuate. The absence of wagering income in the Gulf means innovative financing (sponsorship, government investment, or charging high fees for international participation) must continue.
Welfare and Ethical Concerns
As these regions develop their equine sectors, they also face the modern challenge of ensuring horse welfare and ethical sportsmanship. Issues like doping, overwork, or neglect can tarnish the industry’s reputation. India’s racing has had doping scandals in the past, prompting stricter testing. In the Middle East, the endurance racing sector faced international criticism a few years ago due to a spate of horse injuries and allegations of rule-bending in some desert races. The FEI even temporarily suspended UAE endurance in 2015 over welfare concerns. These incidents highlight that rapid growth must be accompanied by robust regulatory oversight to protect horses. Culturally, attitudes toward animals vary; educating owners, riders, and the public about welfare (proper stabling, hydration, veterinary care, retirement of horses after use) is an ongoing need. The AHS outbreak in Thailand was exacerbated by a lack of prior vaccination (the disease was unheard of there until it struck) – it cost the lives of hundreds of horses and devastated owners. This underscores the necessity of preventive health measures and awareness as part of industry growth.
Explore the future of horse welfare and sport reform in our recent article on dressage and the road ahead for equestrianism published in The Plaid Horse magazine.
In essence, while opportunities abound, these challenges form the “hurdles” that each region must overcome to achieve a thriving equine industry. Some challenges are structural (laws, infrastructure) and will require policy changes or investment; others are cultural and educational, needing time and concerted effort by industry stakeholders. Recognising and addressing these challenges is a critical part of any strategic plan for growth in the equine sector.
Opportunities (Youth, Tourism, Sponsorship, Technology)
Counterbalancing the challenges are numerous opportunities for strategic growth in the equine industries of China, Thailand, Japan, India, and the Middle East. These opportunities range from tapping into new demographics to leveraging technology and global partnerships. Key areas of potential include:
Youth Development and Grassroots Expansion
There is enormous opportunity to involve youth in equestrian activities as a pathway to long-term industry growth. In all these regions, engaging the younger generation can create a sustainable pipeline of riders, fans, and professionals. For example, riding academies for children and school equestrian programs could take off in China and India, where a rising middle class is seeking diverse sports for their children. China has already started to include equestrian sports in some city youth games and has sent junior riders to international competitions – scaling this up could dramatically increase the talent pool. Pony clubs and inter-school leagues can be developed (India could model something like the UK Pony Club system, but adapted to local context). In the Middle East, youth development is equally crucial: Programs like Saudi Arabia’s recent push to train young female jockeys and riders show that opening the sport to all youth (boys and girls) can double the participant base. There is also an opportunity to integrate horses into educational and therapeutic settings – for instance, riding therapy for children with special needs is gaining recognition worldwide and could be promoted in these regions as both a social good and a way to broaden support for equine programs.
Equestrian Tourism and Luxury Experiences
Each region has unique cultural and natural assets that can be leveraged for horse-related tourism. Developing luxury equestrian experiences can attract both domestic and international tourists. In India, think of heritage horse safaris in Rajasthan – riding Marwari horses through historic forts and desert landscapes, which appeal to high-end tourists. Some boutique operators already offer such experiences, but with investment, this could become a signature luxury tourism product. Beach rides and trail rides in Thailand’s scenic locales (e.g. Hua Hin or Chiang Mai) can be further commercialized for tourists looking for something beyond the usual. The Middle East is actively pursuing this: The AlUla Equestrian Village in Saudi Arabia is explicitly aimed at creating a global destination for equestrian tourism with racecourses, polo fields, and accommodations integrated into the historical desert landscape. By 2035 they aim for 120k visitors a year, reflecting how significant the tourism opportunity is. The UAE already uses horse events like the Dubai World Cup as a tourism draw; expanding ancillary experiences (stable tours, horse riding in the desert for visitors, museum exhibitions on Arabian horse history) can extend tourist engagement beyond race day. In China, equine tourism is nascent but possible – regions like Inner Mongolia hold traditional nadam (grassland horse festivals) which could be marketed internationally, and equestrian theme parks (one was developed in Hainan) can attract families. These tourism initiatives not only generate revenue but also expose a wider audience to horse culture, indirectly boosting domestic interest in equine sports.
Beyond grassroots development and tourism, funding and structural sustainability remain critical to the long-term growth of equestrian sports, particularly in regions without a robust racing or betting economy.
The Middle East’s success in disciplines such as showjumping, dressage, and endurance, despite the absence of betting due to religious and legal frameworks, offers a valuable model for the wider equestrian industry. It illustrates that equestrian sport can thrive through a combination of cultural heritage, strategic state support, high-profile sponsorships, and the positioning of equestrianism as a symbol of national prestige. For regions where Olympic disciplines often struggle to secure funding in the absence of a racing economy, this presents a compelling alternative path: one that values equestrian sport on its own merits and invests in long-term infrastructure, youth pathways, and global integration without reliance on gambling revenues.
This approach may prove particularly relevant for countries like China and India, where racing is limited or restricted, but where government interest, private wealth, and rising youth participation could be harnessed to establish strong, standalone sport horse sectors.
Sports Sponsorships and New Events
As equestrian sports gain visibility, they present fresh avenues for corporate sponsorships and event marketing. The relatively untapped markets of Asia offer sponsors a chance to associate with a sport that is often seen as prestigious and lifestyle-oriented. For instance, luxury brands and automotive companies are natural sponsors for equestrian events – and we see this already with Longines, Rolex, Mercedes and others sponsoring showjumping series globally. Bringing such sponsorship to local circuits in China or India can elevate the profile of events and secure funding.
New competitions and leagues can be created: China could establish a national showjumping league with corporate backing, or an “Indian Equestrian Premier League” style series traveling to different cities. These events can attract media coverage and spectator interest, especially if packaged well for television or streaming. In horse racing, as Thailand develops its new racecourse, there’s an opportunity for international partnerships – perhaps twinning an event with Hong Kong or Dubai, which could attract global sponsors and bettors to Thai racing. Middle Eastern countries are already leveraging sponsorship – Qatar sponsors and hosts the Global Champions Tour final in showjumping, for example – but they could further turn local competitions (endurance rides, national showjumping championships) into sponsored events with prize money that draws regional participation.
Sports sponsorship in these regions not only benefits the equine sector but offers companies access to a niche but affluent audience (equestrian sports are followed by high-net-worth individuals and a growing young professional class). This creates a symbiotic opportunity: Brands help fund the sport’s growth, and the sport provides brands with marketing value.
Technology and Innovation
Embracing technology can fast-track development and overcome some traditional barriers. One aspect is digital platforms for betting and fan engagement. In markets where betting is legal or might become legal (India, Thailand, perhaps China in the future), developing modern online betting apps and data analytics could enlarge the customer base – for example, India could deploy mobile betting nationwide (under regulation) to bring more people into racing legally, which would raise revenues and interest. Even where betting is not allowed (Middle East, China currently), technology can engage fans through fantasy leagues, virtual racing games, or live-streaming events with interactive features. Burgeoning fields such as training and rider education, equine health and management technology, and blockchain for horse pedigree tracking are all innovations on the horizon.
Given that some of these regions (like the UAE and Japan) are very tech-savvy, they could become testbeds for equine tech. In fact, equine healthcare tech markets are growing: China’s equine healthcare market (covering veterinary products and services) is expected to double from $117.5 million in 2023 to $244 million by 2030, with new software and services segments growing fastest. This indicates room for startups and investments in areas like tele-veterinary services, horse insurance platforms, and smart stable management systems. Embracing technology not only improves efficiency and horse welfare but also appeals to youth who are digital natives – potentially making horse sports more approachable and modern in their eyes.
Integration with Global Circuits and Events
There is an opportunity for these regions to integrate further with the global equestrian and racing circuits, bringing benefits back home. For instance, hosting international events: The Middle East has led the way (Dubai World Cup, Saudi Cup, Global Champions Tour, World Endurance Championships), and others can follow. China could aim to host more FEI World Cup qualifier events or even an Asian Games/Olympic equestrian event (Guangzhou 2010 Asian Games included equestrian, which boosted facilities). Thailand’s new racecourse could bid to host the Asian Racing Conference or invite international jockeys for challenge series, raising its profile. By integrating with global calendars, these regions attract foreign expertise and visitors and push local standards up. Additionally, local athletes gain from exposure to top competition at home. Cross-regional collaboration is another facet – e.g., a Middle East–Asia racing partnership where winners of certain Asian races get entries to Dubai World Cup races and vice versa, which could stimulate interest in both territories.
Untapped Disciplines and Diversification
While racing and Olympic equestrian sports get a lot of attention, there are other horse-related disciplines that could be developed as opportunities. Polo, for instance, is quite popular among elites in India and increasingly in the Middle East (e.g., Dubai and Abu Dhabi have active polo seasons). Promoting polo tourism (like snow polo in St. Moritz equivalent could be desert polo in AlUla) or leagues can bring new sponsorship and participants. Endurance riding is huge in the Middle East; other countries like India or China (with vast rural areas) could tap into this by organizing endurance competitions that draw international riders – endurance is lower cost to start (not requiring an expensive showjumping arena, for example) and could engage rural communities. There’s also scope in equine-assisted therapy and recreation – establishing therapeutic riding centers, which can get support from health ministries or NGOs, is both a social opportunity and a way to create additional roles for horses outside of competition.
Each of these opportunities – whether it’s building a riding academy network for youth, launching a new international show, investing in an equine tech startup, or marketing a luxury horse safari – provides a strategic avenue for investment and growth. Realizing them will require collaboration between governments, private investors, and international bodies. The timing is ripe: Demographics (a young population in India, China, Middle East) and economics (diversification goals and rising incomes) favor innovation in the equine sector. Stakeholders who act on these opportunities can shape these emerging markets into thriving equine economies that complement the traditional powerhouses of Europe and America.
Future Trend Projections (2025–2032)
Looking ahead to 2025–2032, we can project several trends that are likely to define the equine industry in China, Thailand, Japan, India, and the Middle East. These projections assume that current trajectories continue, with adjustments for socio-economic changes and planned initiatives.
Continued Growth and Market Maturation
All these regions are expected to see growth in their equine industries, though at varying paces. China’s horse industry is poised for significant expansion if policy support materialises. By 2030, China could potentially relax laws to allow pilot pari-mutuel racing in Hainan or other zones, which would be a game-changer. Even if full betting is not legalised, the Chinese government’s focus on sports and leisure consumption in its economic plans suggests equestrian sports will receive more investment. We might see the number of riding clubs in China double and the rider population surpass well over 1 million participants. China will likely develop an integrated horse industry “chain” as advocated by its experts, combining breeding farms, equestrian education, competitions, and tourism. If breeding initiatives succeed, the horse population may rise again from 3.6 million toward the previous levels, albeit with more sports horses than work horses. Japan, by contrast, will likely maintain a steady state – its racing industry will continue to thrive, possibly with even higher turnover thanks to advanced online betting and fan engagement. By 2030, Japan may further internationalize its racing (perhaps establishing more reciprocal races with other jurisdictions) and could remain the top global market by betting handle. However, Japan’s leisure horse segment might continue shrinking unless deliberate efforts are made to attract new hobby riders in urban areas. Expect Japan to remain a world leader in breeding excellence and possibly to start exporting more of its bloodstock (Japanese horses could become regular features in global auction top-seller lists, reflecting their rising stock).
India’s Slow but Steady Rise
Over the next decade, India’s equine sector may gradually open up and modernise. By 2032, one can envision improved governance at the EFI (perhaps more professional management and compliance with sports code), which in turn allows for better promotion of equestrian sports nationwide. We might see more public-private partnerships to set up riding schools or regional equestrian centres in India, especially if equestrian sports are included in initiatives like Khelo India (the national sports development program). On the racing front, a key trend would be digitalisation and legal online betting – if authorities can implement it, this could rejuvenate Indian racing by attracting tech-savvy younger bettors and broadening the audience beyond racecourse attendees. There is also a chance of expansion to new cities (for example, plans for a racecourse in Noida near Delhi have been discussed for years; by 2030 such a plan might come to fruition). By 2032, India might have a larger Thoroughbred foal crop and perhaps start exporting a few horses to other regional racing markets (something nearly unheard of today). Indigenous breeds may gain international attention too; for instance, the Marwari horse with its unique inward-curving ears could become a sought-after breed abroad if export norms are relaxed – a niche but noteworthy development that could encourage breed conservation and rural livelihoods.
Thailand as a Regional Racing Hub
If the current plans stay on track, by the late 2020s Thailand will have a new, modern racecourse in Bangkok with regular racing and betting, effectively making it a new hub in Southeast Asia. We project that Thailand could capture a significant portion of the interest from neighboring countries – for example, racing enthusiasts and horse owners from Malaysia or even mainland China might ship horses to race in Thailand if purses are attractive. By 2030, Thailand could be hosting international racing carnivals, perhaps even an Asian Racing Federation event or a leg of some regional circuit. The ripple effect would be a spur in local breeding – perhaps a Thai-bred horse winning a notable race by 2030, which would have been unlikely before. Thailand’s equestrian sports (showjumping, etc.) might also grow alongside racing due to improved infrastructure and visibility. The country’s warm hospitality and tourist appeal could make events in Bangkok or Pattaya very popular stops for foreign riders and trainers. There is also the chance that Thailand’s success could encourage other ASEAN nations to reconsider equine sports; for example, if Thailand booms, perhaps a place like Vietnam or Indonesia might start small horse racing or riding programs by taking inspiration, further enlarging the regional scene (this is speculative, but momentum in one country often influences neighbors).
Middle East Consolidation and Global Influence
The Middle East’s trajectory through 2032 looks to be one of solidifying its status as a global equine powerhouse. Saudi Arabia and the UAE will continue pouring resources into high-profile events – by 2030 the Saudi Cup might raise its purse even further and could become part of a larger Middle Eastern racing carnival (maybe coordinated timing with Dubai World Cup to create a “Desert Crown” series). These countries will also likely bid for and host major international championships – for example, the FEI World Equestrian Games could land in the Middle East by 2030, given the facilities being built. Similarly, an Asian Games (Doha 2030) and even an Olympic bid (Saudi Arabia is rumored to consider one in the future) would include equestrian sports, ensuring top-notch venues are constructed.
Another projection is greater integration of women in the Middle Eastern equine scene: By 2032, it will be normal to see female jockeys riding in Saudi or female Emirati showjumpers competing internationally, as the groundwork for that is being laid now. Economically, Middle Eastern countries might seek to monetize their equine investments more through tourism and media. For example, they might package racing events with entertainment (concerts, festivals) to draw broader crowds, or sell media rights of their big races more aggressively to international broadcasters/streaming platforms, turning what was once just a prestige project into a revenue-generating spectacle. We also foresee a focus on sustainability and welfare: Given past criticisms, by 2030 the region will likely implement the world’s best practices in horse welfare (the UAE, for instance, might pioneer new cooling technologies for horses in endurance to ensure safety in the heat). Additionally, breeding in the Middle East might increase slightly – perhaps Qatar or Saudi will establish larger-scale Thoroughbred breeding programs domestically, aiming to produce a homebred champion to win a global race, which would be a point of pride.
Global Integration and Competition
By 2032, the distinctions between these regional industries and the global industry will be more blurred. We anticipate a far more integrated global calendar. For instance, top European horses might regularly winter in the Middle East then go to Asia; conversely, top Asian riders might base themselves part of the year in Europe. International ownership syndicates will be common – it’s already starting (e.g. partnerships between Chinese owners and international stables), but we’ll see more cross-border collaboration in ownership of sport horses and racehorses. This global integration means these emerging markets must compete on quality and reputation: Competitive positioning will intensify. For example, to attract the best horses to race in Dubai or Riyadh, those venues will compete not just on prize money but on reputation for fair competition and excellent horse care. Similarly, China and India, to draw top showjumpers or polo teams to events, will have to prove they can meet international standards in organization and facility. This competitive pressure is positive, as it will likely raise standards across the board. By 2030, we might rank some of these regions alongside traditional hubs: e.g., the Middle East could be seen as on par with Europe for winter racing, and China’s major equestrian shows might be part of the global circuit like how Wellington (USA) or Spruce Meadows (Canada) are.
Socio-Economic Impact and Acceptance
In the future timeframe, we expect the equine industry to be more embedded in the socio-economic fabric of these regions. That means by 2032, governments and the public may more openly acknowledge horses as contributors to society – whether through sports, tourism, or culture. In China, perhaps the horse industry will be explicitly included in a Five-Year Plan or similar, recognizing it as a legitimate economic sector. In India, ideally, equestrian sports could be included in school sports or national games, shedding the “elitist” tag and becoming more mainstream. The Middle East may use equestrian success as a soft power narrative – showcasing how they blend tradition with modernity (historic love of horses with world-class events). Cultural festivals involving horses might see a revival or enhancement – e.g. camel races are big in Gulf now, but maybe combined horse-and-camel heritage festivals could appear. And crucially, animal welfare and ethical treatment will likely become central to the industry’s image everywhere. By 2030, expect stricter regulations on doping, maybe a universal ban on certain drugs across FEI and racing in all these regions, and improved retirement programs for horses (for instance, programs to retrain retired racehorses for riding might be flourishing in these countries by then, addressing ethical concerns and adding a secondary market).
In summary, the period 2025–2032 should see these regions transition from emerging players to key pillars of the global equine industry, though each with its flavour: China as a potentially massive market if unlocked, India as a steady grower integrating tradition with modern sport, Thailand as a new regional hub leveraging its location, Japan as a stalwart leader in racing and quality, and the Middle East as an innovative powerhouse setting benchmarks in events and luxury equestrian experiences. The interplay of their development will also influence global trends – for example, more international events in Asia could shift some focus away from Europe seasonally, and increased demand from these regions could inflate horse values worldwide (a trend already noticed when Middle Eastern and Chinese bidders enter auctions). Stakeholders should keep a global perspective as they plan locally, because by 2030 the horse world will be even more interconnected.
Regional Comparisons and Competitive Positioning
When comparing China, Thailand, Japan, India, and the Middle East in the equine domain, each exhibits distinct strengths, weaknesses, and roles in the global context. Understanding their competitive positioning relative to each other and to global hubs like Europe and the US highlights where each stands.
Market Scale and Maturity
Japan and the Middle East (notably UAE/Saudi/Qatar) currently operate at a higher level of market maturity in certain segments. Japan’s horse racing industry is as mature and large-scale as any Western country – it rivals the US and UK in betting volume and far surpasses others in prize money and domestic engagement. The Middle Eastern racing scene, while not built on betting, has matured in hosting world-class events and drawing international participation (e.g., the Dubai World Cup night is often compared to the Breeders’ Cup or Royal Ascot in prestige). China and India, by contrast, have enormous potential scale (due to population and growing economies) but are still in early stages of industry maturity. China’s equine market is currently only a fraction of Europe’s or the US’s in value, but it’s growing; India’s is similarly limited to pockets of racing and a small elite riding community. Thailand is at an even more nascent stage, essentially a newcomer rebuilding an industry from near scratch once the new initiatives kick in. So in competitive terms, Japan and the Middle East are ahead in current performance, whereas China and India are like “sleeping giants” – not yet competitors to the big hubs, but everyone recognizes that if they ramp up (with betting legalization in China or tech-driven expansion in India), they could become huge markets, possibly the competitors to Europe/US in the long run. Thailand will likely position itself as a regional competitor to places like Hong Kong or Singapore rather than a global competitor; its market will be smaller but could dominate the Southeast Asian niche.
Discipline Specialisation
Each region has carved (or is carving) a niche in specific disciplines. Middle East is synonymous with endurance riding and big-money flat racing – it’s the place for endurance (with the largest number of high-caliber endurance horses and rides per year) and has become a critical part of the global flat racing circuit (especially for older horses targeting rich prizes in winter). Japan is specialised in flat racing and breeding Thoroughbreds, and also has a respectable showing in showjumping/eventing (though not a world leader there, Japan is competitive in FEI sports with occasional Olympic medals). India is known for polo historically (it was once a polo powerhouse in the 20th century) and still has a strong polo circuit relative to Asia. Its racing is self-contained but not internationally prominent. China is focusing on equestrian sports (showjumping, dressage) – in fact, China’s ambitions might be to become the Asian leader in Olympic disciplines. They invested in training riders abroad and now regularly host FEI showjumping events. In contrast, China has almost no stake in global Thoroughbred racing yet. Thailand might aim to specialize in racing (filling the gap in ASEAN) and possibly polo or showjumping through its existing clubs. In competitive positioning, these specializations mean they are not all directly competing in the same arena; rather, each has its turf: e.g., Middle East vs. UK/US in racing prize money wars; China vs. Japan vs. Europe in showjumping circuits for market share; India vs. others in attracting polo world cups, etc. Over time, though, these distinctions may blur as regions diversify – e.g., Middle East is starting to support showjumping (Qatar and Saudi host showjumping tours), meaning they will compete with Europe to host the best events. China might eventually get into racing which would put it in more direct competition with Japan or Hong Kong.
Government Support vs. Market-Driven Growth
A comparative angle is the degree of government support. The Middle Eastern countries and China have a top-down, policy-driven approach – government or ruling family investment is the key driver (be it building facilities, sponsoring events, or creating regulations to foster growth). This can be a competitive advantage as it allows for strategic, well-funded development (e.g., building a $20 million race from scratch in Saudi). However, it can also mean the industry’s fortunes are tied to political will. Japan and the US/Europe, on the other hand, have more market-driven or institutional frameworks (JRA in Japan is quasi-government but largely self-sustaining through betting; Europe’s clubs and federations are old and independent). In that sense, Japan competes by efficiency and passion of a mature fan base, whereas Middle East competes by sheer investment capacity and ambition. India falls somewhere in between – racing is somewhat private (club-run) with oversight, and equestrian sports get limited government funding; historically the Army filled the support role for equestrian. Thailand’s new plan is interesting because it’s driven by private investors and entrepreneurs (with hopefully government clearance). Competitive positioning wise, regions with strong state backing (Middle East, China) could leapfrog certain stages of development, but they must cultivate genuine grassroots to sustain it. Those more market-driven (Japan, maybe future India) might grow slower but with broader base. This dynamic will influence how they compete: For example, the Middle East can outspend others to attract events or horses (as seen in buying horses – UAE/Qatar owners have outbid others at auctions often), which is a competitive strategy. China’s state might similarly out-invest others in building say the biggest equestrian park in Asia. Meanwhile, Japan and India can’t outspend those states, so they compete by tradition, expertise, and stable home markets.
Integration in Global Supply Chains
A competitive factor is how integrated each region is in the global equine supply chain (trade of horses, talent, etc.). Middle East is deeply integrated as a buyer of horses and employer of foreign talent, and increasingly as a host of global events – but it’s not a supplier of horses or a source of trainers abroad (except when retired European horses go to stud in Middle East or some jockeys from Middle East start riding abroad, which is still limited). Japan has become a supplier (exporting stallions like Deep Impact’s progeny or runners to abroad) and continues as a buyer of select bloodstock; Japanese jockeys and trainers now compete in Europe and America seasonally, indicating strong outward integration. China is mostly an importer of expertise and horses at this stage; competitive positioning here is about learning and catching up. India is relatively insular due to its rules, so it’s neither a big importer nor exporter of sport horses (except polo ponies sometimes) – it will need to integrate more to stay competitive (for instance, allowing more foreign horses in equestrian competitions or sending more riders abroad for exposure). Thailand will likely integrate by importing many horses and hiring foreign experts to jump-start its racing – effectively its success will depend on how well it can plug into the network of horse trade and talent from established countries. The region that manages integration well can accelerate progress. For example, if China builds a strong partnership with European federations (like training Chinese riders in Germany, bringing European circuits to China), it could fast-track to world-class standards and possibly challenge Japan or Australia in medal counts down the line. If India remains less integrated, it might lag behind its Asian peers in international results.
Comparative Strengths
To synthesise competitive positioning: Middle East’s strength is financial muscle and cultural heritage – it can host the biggest events and is taken seriously in any conversation about top-level racing/showjumping because of that. Its weakness is lack of a mass domestic audience (except perhaps in endurance) and dependence on external human capital. Japan’s strength is a huge, passionate domestic base (millions of racing fans, a well-structured industry) and decades of institutional knowledge; its relative weakness is an aging demographic and perhaps less government flexibility (e.g., introducing new betting products or risk-taking in sport promotion happens slowly). China’s strength is scale and eagerness: A large population with growing wealth and a government willing to invest – no other region has the sheer potential numbers of new riders or spectators like China does; its weakness is current inexperience and regulatory blocks. India’s strength is heritage and human capital: horses are part of its history (polo, cavalry, racing in royal times) and it has many animals and people who know basic horsemanship; plus, Indians have shown aptitude when given resources (e.g., an Indian rider won an Asian Games gold in eventing despite minimal support, showing talent is there). Its weakness is infrastructure and bureaucratic inertia. Thailand’s strength is geographic and strategic agility: It is centrally located in ASEAN tourist routes and can adapt models from others (they explicitly are modeling after Hong Kong/Singapore racing), giving it a chance to implement best practices without legacy issues; its weakness is very low base and reliance on external help initially.
In terms of global competitive positioning, none of these (except Japan in racing, and Middle East in certain spheres) are yet directly challenging the supremacy of Europe or the US across the board. Europe remains the epicenter for equestrian sports and breeding warmbloods; the US remains huge in racing (especially bloodstock trade and breeding of certain breeds like Quarter Horses). However, the balance is slowly shifting. The Middle East has already surpassed traditional powers in offering prize money and in some breeding purchases. Asia (with Japan leading, and China possibly following) has started to win major trophies – for instance, Japanese racehorses winning the Prix de l’Arc de Triomphe or Melbourne Cup would have been unthinkable decades ago, but now it’s a goal within reach (Japanese horses have come very close, with some big wins like two Breeders’ Cup titles in 2021). Successes like that will elevate their status. If China or India were to host a world championship or produce an Olympic medalist in equestrian, it would similarly announce their arrival.
Finally, these regions also complement each other to some extent. It’s not pure competition; there is collaboration. For instance, Middle Eastern owners invest heavily in horses bred in Japan or trained by European trainers – a symbiosis. Japanese riders compete in European events raising the level of competition for all. Chinese and Indian federations often invite foreign experts, which is a form of partnership. So, one can envision a more integrated global industry where, rather than one region “defeating” another, the pie grows bigger and each region stakes a claim to a part of it. That being said, in business terms, companies and investors will look at which region is more attractive for investment or expansion: currently, the Middle East and China look very attractive due to growth and support; Japan is attractive for its stability and profitability in racing; India and Thailand might soon become attractive frontiers if they implement reforms (a company like a global betting operator or an equine pharmaceutical firm might see big new markets opening in those countries over the next decade). Each region thus needs to capitalize on its strengths to attract that investment and carve out its competitive edge in the international equine arena.
Expansion Opportunities and Recommended Investment Areas
Considering the analysis above, there are several expansion opportunities and recommended areas where strategic investment could yield significant returns across these regions. Stakeholders – whether government bodies, private investors, or international partners – should focus on initiatives that address current gaps and leverage unique local advantages.
China – Invest in Domestic Breeding and Training Infrastructure
To reduce reliance on costly imports and make horse sports more accessible, China should invest in local breeding programs and training facilities. This includes establishing modern stud farms (possibly via joint ventures with European breeders) to breed sport horses and racehorses suited for the Chinese market. Government incentives or subsidies could encourage private investors to breed locally. Alongside breeding, building Equine Training Centers – multi-purpose facilities with tracks, arenas, and schooling grounds – will develop homegrown talent. For example, a national equestrian training academy (with foreign coaches initially) could fast-track skills for riders, instructors, farriers, and vets. Given that racing is currently banned, focus can be on breeding horses for FEI sports and riding schools, which in turn supports club growth. As a positive side effect, such investment improves affordability (locally bred horses would lower purchase costs). Policy support is also key: China could experiment with a “horse industry zone” in Hainan or elsewhere, offering tax breaks and legal betting on a trial basis – investors should be ready to jump in if that green light appears, building the first racecourse or off-track betting network when allowed. In essence, positioning capital now in breeding farms, equestrian parks, and training human resources will pay off as China’s market expands.
India – Develop Equestrian Infrastructure and Broaden the Base
India offers opportunity in building new infrastructure for both racing and riding. Investors (in partnership with local authorities) could upgrade existing racetracks and establish new ones in under-served regions (e.g., North India). Modernizing facilities (better turf tracks, lighting for night races, comfortable spectator amenities) can attract more fans and revenue. Additionally, expanding riding schools and clubs in second-tier cities is an investment whitespace – currently, most are in metro areas. Setting up academies in cities like Chandigarh, Lucknow, or Pune (beyond the Army centers) can tap into local interest. Partnering with schools and universities to start riding programs or teams, with sponsored horses and trainers, would cultivate grassroots participation. Another area is technology-driven services: Launching a legal online betting platform (pending regulatory clarity) could capture the existing informal betting market – tech firms could collaborate with Turf Clubs to create an app for wagering, complete with live streaming and data, which would attract younger audiences and increase turnover (hence prize money and industry funding).
Ancillary businesses are ripe for growth too: Equine veterinary clinics near horse hubs, farrier training workshops, and feed and tack manufacturing in India (leveraging lower costs to maybe export regionally). Given India’s IT prowess, investing in an integrated IT system for racing (for example, data analytics or anti-doping tracking software for the Turf Authorities) could make the sport more transparent and appealing. Finally, leveraging India’s heritage can be an investment angle – for instance, restoring historical polo grounds or sponsoring an international polo tournament in India could draw tourism and sponsor interest, reviving a glory from the past into a commercial venture.
Japan – Innovate in Technology and Global Partnerships
Japan’s industry is strong, but there are still opportunities particularly in innovation and international expansion. An area for investment is technology to enhance fan experience and horse welfare. For example, companies can develop advanced analytics and AI for racing – Japan already has an engaged fan base that consumes data; new platforms (AI-driven tipsters, virtual reality race viewing, gamified betting) could find a ready market. Additionally, equine healthcare technology (such as regenerative therapies or advanced diagnostic equipment) could be trialed in Japan’s large horse population, with potential to export these solutions. Japanese firms or the JRA might invest in overseas racing ventures – e.g., purchasing a stake in a foreign racecourse or betting company, to globalize their portfolio. Conversely, foreign investors might look to Japan’s lesser-developed segments, like the riding club market – setting up luxury riding holidays in Hokkaido’s scenic locales or expanding riding schools near Tokyo for the working adult demographic could be a niche growth area, given many Japanese might partake in riding if it were more available as a leisure sport. Sponsorship and branding is another angle: as Japanese horses and riders compete abroad, Japanese brands could sponsor events or teams internationally, effectively exporting their equine culture. Investors should note Japan’s high standards and work within them – any product or service (tech, breeding, training) that can improve efficiency or quality will be welcomed. For instance, investing in training simulators or safety equipment for racing (like better helmets or horse monitoring sensors) could find a market with the JRA and then be sold globally. Essentially, Japan is a testbed for high-end innovation in equine sports – investments that succeed in Japan can often be scaled internationally.
Thailand – Build Racing and Equestrian Tourism Ventures
Thailand’s imminent expansion in racing is a prime investment opportunity. Stakeholders can invest in the new racecourse project in Bangkok – not just the track itself, but the ecosystem around it. This could include establishing stabling facilities, horse importation and quarantine services, and training centers linked to the main track. As racing grows, there will be demand for local bloodstock: Investors might start a Thoroughbred breeding farm in Thailand (perhaps importing mares from Australia) to capitalize on what will eventually be a need for locally born racehorses (especially if incentives for Thai-bred horses are introduced in races). Outside of racing, Thailand’s strength is tourism – investing in equine tourism experiences could yield returns. For example, creating a “destination riding resort” in a place like Chiang Mai or Phuket, where tourists can stay at a ranch, learn to ride, play polo, or go on trail rides, is an attractive concept. Such resorts could be marketed to both Asians and Europeans as a unique vacation. Another idea is developing international equestrian events in Thailand: an investor could team up with the Thai Equestrian Federation to host an annual international showjumping or dressage competition (leveraging Thailand’s hospitality and event management to make it a must-visit show on the Asian circuit).
Retail and services around the industry will also grow – opening a one-stop equestrian supply store chain in Thailand (riding gear, feed, supplements) or a specialised equine veterinary practice (with imported vets training Thais) are business opportunities in the wake of expansion. Since the plan is to model after Hong Kong/Singapore, IT and betting systems are crucial too – tech investors could provide the totalisator/betting software and online betting platforms, with a share in the betting revenue once it’s operational. Given the regional void, Thailand has the chance to attract participants from neighboring countries; thus, investing early can mean capturing the Southeast Asian market before others do.
Middle East – Expand Ancillary Services and Luxury Offerings
The Middle East’s equine industry, already well-funded, presents opportunities particularly in value-added services and tourism/luxury sectors. One recommendation is to invest in world-class equine veterinary and research facilities. For instance, creating a state-of-the-art Equine Referral Hospital in Saudi or the UAE (or expanding existing ones) could make the region a global center for horse care – attracting clients from Asia/Africa and developing treatments that can be patented or sold. Linked to this, an equine science research institute (perhaps in partnership with a university) focusing on desert horse physiology, new vaccines, etc., could gain government backing and generate breakthroughs. Another area is media and content: Invest in production of equestrian sports content – think Netflix-style series or documentaries on Middle East horse culture, or advanced live-broadcast capabilities for events. This not only enriches the industry’s profile but can be monetized globally, positioning the Middle East as not just a host but a storyteller in equine sports. On the luxury tourism side, building on projects like AlUla, investors can create boutique equestrian resorts or theme parks. For example, in the UAE, a desert equestrian theme park where tourists can learn about Arabian horses, watch demonstrations, and try riding could complement Dubai’s tourism portfolio. Or in Qatar, a luxury stud farm tour experience for VIP tourists (similar to how wineries offer tours) could be offered, including seeing priceless Arabian show horses, etc. Endurance riding tourism is also a niche: organizing endurance ride experiences for amateurs in the Arabian desert (with full safety and support) could attract endurance enthusiasts worldwide to come “ride like a Bedouin.”
Cross-Regional and Global Investments
Finally, an overarching recommendation is to seize cross-regional opportunities. For example, investors can facilitate the exchange between these markets and global hubs: setting up a training scholarship fund that sends talented Asian riders to Europe and then brings them back to raise standards – this could be sponsored by brands or wealthy patrons looking to develop the sport (and it indirectly grows the market that those brands can then sell to). Joint ventures between regions could also be fruitful: a European racecourse operator partnering with Thai developers, or an Australian stud farm partnering with Indian breeders to improve bloodstock, etc. These collaborative investments share risk and marry expertise with opportunity. Additionally, data and analytics services that span multiple regions could be in demand – for instance, a company that consolidates bloodstock and racing data across Asia and the Middle East could sell subscriptions to stakeholders who want insights (given the increasing interconnectedness, data is gold). The important notion is that these regions, as they grow, will not exist in isolation; there’s an opening for those who can connect the dots globally – whether it’s logistics (equine air transport companies expanding routes in Asia/Middle East), or consulting services (helping manage new clubs or events with international best practices).
In summary, strategic investments should aim to fill structural gaps (breeding, training, infrastructure), capitalize on cultural and natural strengths (tourism, heritage), and introduce innovation (technology, new event formats). By doing so, investors and industry leaders can not only profit but also actively shape the evolution of the equine industry in these regions. The next decade represents a formative period; those who invest smartly now could become the industry giants of the future in these emerging equine markets.
As the equine industry undergoes a global shift, the rise of China, Thailand, Japan, India, and the Middle East signals a new era of opportunity and influence. These regions are not only expanding their domestic horse sectors but actively reshaping the future of equestrian sport, breeding, and tourism. With strategic investment, cross-border partnerships, and a focus on innovation and welfare, they have the potential to complement, and in some cases rival, the traditional powerhouses of Europe and North America.
For forward-thinking stakeholders, the next decade presents a unique window to shape these markets from the ground up.
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