Dubai is looking to strengthen its position as a regional hub for the horse-racing and equine industry, official sources have quoted the chairman of the Dubai Equestrian Club and Dubai Racing Club as saying.
The emirate will see a number of new initiatives that will bring new opportunities to the sector, the official sources quoted Sheikh Rashid bin Dalmouk Al Maktoum as saying.
He was inaugurating the Dubai Equestrian Procurement Forum when he made this statement.
The forum is the region’s first equine industry exhibition that brings all stakeholders, including suppliers, sellers, buyers, importers, industry experts and racing clubs, under one roof, said the sources.
The forum thus strengthens cooperation in the multi-billion-dollar industry, said the sources.
Opportunities emerging from future projects in the sector worth $400 million were high on the event’s agenda.
More than 200 decisionmakers from a range of international companies specialized in the equestrian industry participated in the Dubai Equestrian Procurement Forum held on Saturday, October 23, at the Meydan Grandstand.
“As the equine industry recovers from the Covid-19 pandemic, there will be many fresh opportunities for industry stakeholders including manufacturers, suppliers and technology providers. The industry is growing and we will announce new initiatives for the industry in the near future,” Sheikh Rashid said following the inauguration.
“The Dubai Equestrian Procurement Forum will now become an annual industry event that will unveil new products and services and bring new opportunities for all of us,” he added.
More than 50 exhibition stalls displayed various products ranging from equine hospitals, veterinary clinics, fodder suppliers, manufacturers of equine industry products, equine logistics operators, and equine industry related services for buyers at the exhibition.
The UAE is home to some big equestrian clubs in the world. They are said to be a target market for new products, services, and suppliers, with an average annual spending of more than $100 million.
The annual cost of caring for a racehorse training in the UAE is about $30,000.
The total money spent by the sector in the country for racehorse training is $570 million.