Steve, those numbers represent the whole equine industry.
"The study reveals:
· An industry that is both large and economically diverse, as well as a key contributor to the overall fabric of the U.S. economy;
· Horse owners and industry suppliers, racetracks, and off-track betting operations, horse shows and other industry segments all generate discrete economic activity contributing to the vibrancy of the overall industry;
· Of the total economic impacts reported, approximately $32.0 billion is generated from the
recreational segment; $28.8 billion from the
showing segment and $26.1 billion is generated from the
racing segment."
http://www.horsecouncil.org/2005%20J...%20Release.htm