Economic analysis of the equine sector in Colombia

Abstract

In recent years, the study of the equine sector has had a great importance for the strengthening of the sector because it has a relevant role in the development, providing 4.35% of the GDP to Colombia and main source of employment, through the realization of exhibitions, fairs, horseback riding, breeding and training of horses; increasing the economy by business ideas that lead to the creation of new companies, Colombia currently has 143 companies whose main economic activity is horse breeding and 1.5 million horses. The research has as objectives to mention economic aspects that allow knowing the participation of the equine industry in the country's economy, in addition, to recognize the economic growth of the sector and its evolution, finally, to investigate aspects that allow visualizing a prospective of the Colombian equine industry. The methodology applied in the research was through a qualitative approach with the purpose of knowing the current phenomenon of the equine market in Colombia, presenting a descriptive scope by providing the characteristics of the subject and knowing the current trends in the Colombian equine economy. As a result, it is evident that the Colombian horse is admired and desirable by the most demanding breeders in the world due to its genetics and purity, creating an industry for the labor effort it requires and this leads to the generation of new jobs.