KEY POINTS:
The Kelt Capital Horse of the Year Show gets under way in Hawkes Bay today showcasing an industry which show director Kevin Hansen says is about to take a big jump.
The New Zealand sport horse industry - show jumping, dressage and eventing - is worth about $4 million to $5 million but the goal is to sell $30 million of horses overseas by 2010, Hansen says.
"Within six or seven years we believe that figure can be $100 million and we believe that we're on the threshold of that now."
The 56th Horse of the Year Show is in its 10th year in Hawkes Bay and is the catalyst for future growth, he says.
Good horses sold for between €100,000 ($189,000) and €500,000 in Europe "and we believe that we can have a slice of that action in New Zealand".
New Zealand was starting to develop the top blood lines from Europe and America, where the industry has been based for 50 years.
"We can breed horses better than they can in America because of our climate and our conditions here.
"They'll be a healthier young stock at two, three and four years old because of the ability to roam around the hills here, to free range, than they are being brought up in a stable in Germany," Hansen says.
HORSE OF THE YEAR
* In Hawkes Bay from today until Sunday.
* 70,000 spectators; 2480 horses; 16 disciplines.
* Cost $2.2 million to stage.
* More than $750,000 in prize money.
* Contributes $8.8 million to the local economy.
* Target is to grow the sport horse industry to $100 million.
