THE economic reality of the fall-out from Covid-19 for the Irish sport horse industry will easily reach – and even well surpass - at least €400 million this year.

That’s according to economist Jim Power yesterday (Friday), who has carried out indepth economic reports on the sector in recent years.

Speaking to The Irish Field, Jim Power said: “This situation is hitting the Irish sport horse industry in the peak months of spring/summer. Whether it lasts or doesn’t, the impact of it is going to be felt right through from March to September. These are the peak months of the equestrian year, and people still have to feed horses and look after them, no matter what. It’s a massive hit no matter which way you look at it.

“I have never seen anything like this with the amount of jobs already lost in the country. There is almost 500,000 jobs gone in the last week and there’s a lot more to come. We are into unchartered territory now, this is impossible to model.”

Estimating the annual economic contribution of the sport horse industry in an average recent year at €816m plus, Power said that the industry was facing an almost immediate loss of one third and that’s more than likely to spiral to at least €400 million by autumn.

“There is 310,000 people working in retail (shops/clothing/groceries etc) and 250,000 of those are vulnerable. Groceries will stay open. There’s another 179,000 in accommodation and food services. All businesses, including those in the sport horse sector, will be affected by this. For the sport horse industry, I really hope that the sector gets adequate support from government. Once the virus is gone, a lot of businesses will be gone as well from horses, to tourism, hotels, pubs and restaurants. It will be a changed landscape.

“The sport horse industry is going to need a massive subvention from government to support business and on top of that, it’s a cyclical industry. People buy and own horses when they have money to do so there will be a knock-on effect.

“There is a risk that 2020 is now going to be wiped out totally – you are talking of at least €400 million wiped off the Irish sport horse sector by the end of this year,” he added.

Heed the advice

Along with every other sector, Ireland’s sport horse breeding, competition and showing scene, all about to get into full swing, have been dealt a hammer blow with the Covid-19 restrictions.

Government advice is to restrict indoor events to 100 and outdoor events to 500, practise social distancing and under take sanitising measures.

“As a community, we have to make our contribution to limit the spread of this virus, as the sooner it can be contained the sooner we will be able to get back to normal life and normal sport. Along with Horse Sport Ireland and other sporting bodies, we encourage everyone to continue to adhere to Government advice on the situation in relation to Covid-19,” said Millstreet’s Thomas Duggan announcing the cancellation of Millstreet International Welcome Tour due to take place April 1st-5th (see page 92).

Goresbridge postponed their next sport horse sale to April 8th and auctioneer Martin Donohoe said: “While our offices are closed, the phone lines are diverting to my mobile and I’m available to take calls anytime.”

Meanwhile, an SJI spokesperson said yesterday: “The status quo will remain the same until after the 29th March as per Government guidelines. In the meantime, we are arranging meetings with the relevant stakeholders and governing bodies to put contingency plans in place. Showjumping Ireland have a social and moral responsibility for the safety of its members, their families and staff. We will keep our members updated on any new relevant information.”