OCALA, FL (352today.com) – It’s no secret that the equestrian industry is important to our local economy, but a recent study commissioned for HITS in Ocala showed its true impact: more than $123 million.
HITS is North America’s largest producer of hunter/jumper equestrian competitions, and the company says its Post Time Farms location in Ocala has generated millions for the economy in Ocala and its surrounding areas – in just 12 weeks.
During the equestrian competition season between December 2022 and March 2023, an economic impact report provided by Netop Insights shows over $92 million in direct spending by over 9,500 out-of-market visitors coming to Ocala to compete.
This includes not only $41 million in horse-related expenditures, but also over $8 million in travel accommodations and $37 million in daily spending, including food, shopping and entertainment from local businesses. The season’s indirect impact was an additional nearly $31 million.
According to the financial report, over 81% of equestrian eventgoers this season came from outside of Marion County to participate. Nearly 95% of these visitors said they wouldn’t have visited the area if not for the horse shows.
“HITS has been actively involved in greater Ocala for over 20 years,” said Peter Englehart, President and CEO of HITS. “The sizeable scope of the economic impact generated over the past year demonstrates how deeply our brand and experience resonate with equestrian enthusiasts in central Florida.”