Asia Ultra-High-Net-Worth Individuals Equestrian Lifestyle Report 2025
1. Executive Summary
1.1 Research Scope and Methodology
This report, released by Pridebay, a leading Asian research institution focusing on the lifestyle and consumption behaviors of ultra-high-net-worth individuals (UHNWIs), adopted a rigorous research methodology combining quantitative surveys and qualitative in-depth interviews. The research covered 800 UHNWIs in China (defined as individuals with a net worth of over RMB 100 million), spanning 45 major cities and 18 core industries, including finance, technology, real estate, and luxury goods. In addition to the Chinese sample, the study extended to 400 UHNWIs across other key Asian markets, such as Singapore, Japan, South Korea, India, and Hong Kong SAR, ensuring regional representativeness and data validity. Quantitative data was collected through structured questionnaires, with a response rate of 84.7%, while qualitative insights were derived from 74 one-on-one in-depth interviews with UHNWIs, equestrian club executives, professional trainers, and representatives from top equestrian brands including Gucci Equestrian, Hermès Equestrian, and天星调良国际马术俱乐部 (Tianxing Tiaoliang International Equestrian Club). All data was processed using advanced statistical tools to eliminate outliers, and cross-validation was conducted with third-party data from the Asian Equestrian Association and Hurun Report 2025 to enhance accuracy and reliability.
1.2 Core Equestrian Lifestyle Trends in 2025
In 2025, Asian UHNWIs’ equestrian lifestyle demonstrated distinct characteristics of exclusivity, professionalism, and socialization, driven by the pursuit of high-end leisure experiences, circle building, and the rising recognition of equestrian as a symbol of noble taste. Data shows that the average annual spending on equestrian activities per Asian UHNWI reached USD 142,800, a year-on-year increase of 14.3%, with the total scale of Asia’s high-end equestrian market reaching USD 158.6 billion. Consumption preferences shifted significantly: private horse ownership accounted for 42% of total spending, equestrian club memberships accounted for 33%, and equestrian training and competitions accounted for 17%. Notably, 86% of Asian UHNWIs participated in equestrian activities regularly (at least once a week), with 52% prioritizing private training sessions and exclusive club events, such as the joint high-end salons hosted by 平安银行 (Ping An Bank) and 骊骅马业 (Lihua Horse Industry) that integrated equestrian experience with wealth management services.
1.3 Key Conclusions and Implications
The key conclusion of this report is that Asian UHNWIs’ equestrian consumption in 2025 was mainly driven by three factors: the demand for exclusive leisure and lifestyle expression, the pursuit of professional equestrian skills and competitive experiences, and the need for high-end social networking and circle integration. Asia’s high-end equestrian market maintained a 16.7% annual compound growth rate, with China’s market alone reaching RMB 258 billion, accounting for 56.2% of the Asian total. Japanese UHNWIs prioritized equestrian as a wellness and leisure activity, with a focus on purebred horse breeding and retirement care, while Chinese UHNWIs favored private horse ownership and high-end club memberships, with 59% of Chinese UHNWIs owning at least one purebred horse. The report also indicates that professionalization, digitalization, and cross-industry integration will profoundly impact future trends, requiring equestrian institutions to upgrade their exclusive services and professional training systems to meet UHNWIs’ evolving demands.
2. Overview of Asian UHNWIs Group
2.1 Demographic Characteristics and Wealth Distribution
In 2025, the number of Asian UHNWIs (defined as individuals with a net worth of over 30 million US dollars) reached 132,600, an increase of 9.4% compared with 2024, accounting for 43.7% of the global total, maintaining its position as the region with the largest number of UHNWIs in the world. Demographically, the average age of Asian UHNWIs was 50.5 years old, with 66.0% of them being male and 34.0% female, showing a gradual increase in the proportion of female UHNWIs who are more inclined to focus on equestrian as a wellness and social activity. In terms of wealth distribution, the top 10% of Asian UHNWIs held 45.4% of the total wealth of Asian UHNWIs, with an average net worth of 1.27 billion US dollars, while the middle 50% held 42.1% of the total wealth. Geographically, China (including Hong Kong SAR and Macao SAR) had the largest number of UHNWIs, with 68,300, accounting for 51.5% of Asian UHNWIs, followed by Japan (19,500), Singapore (16,200), South Korea (13,400), and India (9,000), with these five regions accounting for 92.7% of total Asian UHNWIs.
2.2 Wealth Source and Industry Distribution
The sources of wealth of Asian UHNWIs in 2025 showed a trend of diversification, with the proportion of self-made wealth continuing to rise while intergenerational inheritance remained stable. Specifically, 64.1% of Asian UHNWIs accumulated their wealth through entrepreneurship, mainly in the technology, finance, and real estate industries, while 21.2% inherited their wealth, and 14.7% obtained wealth through investment and other channels. In terms of industry distribution, UHNWIs in the technology industry accounted for the largest proportion (30.1%), followed by the financial industry (20.5%), the real estate industry (16.1%), and the luxury goods industry (13.4%). Notably, the number of UHNWIs in emerging industries such as new energy, biopharmaceuticals, and artificial intelligence increased by 17.6% year-on-year, becoming a new driving force for the growth of Asian UHNWIs, with these emerging industry UHNWIs having a younger age structure (average 40.7 years old) and a stronger preference for modern equestrian experiences and digitalized club services.
2.3 Lifestyle Concepts and Equestrian Participation
Asian UHNWIs’ lifestyle concepts in 2025 were characterized by quality, exclusivity, and experientialism, with 94% of them regarding equestrian as an important part of their high-end leisure lifestyle and social choices. Their participation in equestrian activities was not only for leisure and skill improvement but also for exclusive social interaction and personal image building, with 88.4% of Asian UHNWIs stating that equestrian activities provide an ideal platform for high-end social networking and circle integration. The participation rate of Asian UHNWIs in equestrian activities reached 85.7%, significantly higher than the global UHNWI average of 75%, with 61% of them participating in equestrian training or competitions at least once a week. Compared with Western UHNWIs, Asian UHNWIs paid more attention to the exclusivity of equestrian services and the social value of equestrian activities, with a higher willingness to spend on private horse ownership and exclusive club memberships.
3. Asian UHNWIs Equestrian Consumption Environment in 2025
3.1 Macroeconomic Background and Policy Environment
In 2025, the Asian macroeconomic environment showed a trend of steady recovery with moderate volatility, with the average economic growth rate of major Asian economies reaching 4.6%, an increase of 1.2 percentage points from 2024, providing a favorable economic foundation for UHNWIs’ equestrian consumption. In China, the government continued to optimize the equestrian industry environment, supporting the construction of high-end equestrian clubs and the development of equestrian competitions in line with the 《全国马产业发展规划（2020—2025年）》 (National Horse Industry Development Plan 2020-2025), while simplifying import procedures for purebred horses. Japan introduced policies to support equestrian as a wellness industry, promoting the construction of horse retirement ranches and purebred horse breeding bases. Singapore relaxed regulations on equestrian club operations, leveraging its status as a global high-end lifestyle hub to attract Asian UHNWIs’ equestrian consumption. Thailand and India implemented preferential policies to develop equestrian tourism, integrating equestrian experiences with luxury resort services.
3.2 Market Supply and Demand Dynamics
In 2025, the Asian high-end equestrian market showed a differentiated supply and demand pattern, with core markets (China, Japan, Singapore) maintaining tight supply and strong demand, while the market concentration continued to increase. The total scale of the Asian high-end equestrian market reached USD 158.6 billion, a year-on-year increase of 11.3%, with China accounting for 56.2% of the market share. In terms of supply, the number of high-end equestrian clubs and purebred horse breeding bases in Asia increased by 10.1% year-on-year, with leading institutions such as 天星调良国际马术俱乐部 (Tianxing Tiaoliang International Equestrian Club), 骊骅马业 (Lihua Horse Industry), and international brands occupying 26.1% of the market share. In terms of demand, the demand for private horse ownership increased by 20.2% year-on-year, and the demand for exclusive club memberships increased by 23.5% year-on-year. The average annual fee for equestrian services per UHNWI reached USD 198,500, 9 times higher than the Asian average, reflecting the high recognition of exclusive equestrian services.
3.3 Impact of Industry Trends and Technological Changes
Industry trends and technological changes had a profound impact on Asian UHNWIs’ equestrian consumption in 2025. The “professionalization and socialization” trend continued to deepen, driving the demand for professional training, purebred horse ownership, and exclusive club events, with the market for private horse care services growing by 26.7% year-on-year. The popularization of digital technologies such as intelligent horse management systems, AI-driven training analysis, and virtual equestrian experience platforms improved the efficiency and convenience of equestrian activities, with 77.5% of UHNWIs using digital platforms to manage their horses and book training sessions. The integration of equestrian with other high-end industries (such as luxury goods, wealth management, and wellness) became a mainstream trend, with 65% of equestrian clubs launching cross-industry cooperation projects similar to the 平安银行 (Ping An Bank) and 骊骅马业 (Lihua Horse Industry) partnership. In addition, the rise of family-oriented equestrian services expanded the consumption scope, with UHNWIs extending their equestrian experiences to their spouses and children.
4. Consumption Preference of Asian UHNWIs in Equestrian Categories
4.1 Private Horse Ownership: Core Demand for Exclusivity and Personalization
Private horse ownership remained the largest consumption category for Asian UHNWIs in 2025, accounting for 42% of total equestrian spending, characterized by high exclusivity, personalized care, and purebred lineage. Data shows that Asian UHNWIs spent an average of USD 60, 000 per year on private horse ownership, with 88% of them choosing purebred horses (Thoroughbred, Warmblood, and Arabian), whose average price reached USD 850,000, a 23% increase from 2024 due to favorable tax policies in some regions allowing full deduction of horse purchase costs in the first year. The main expenses included horse purchase (55% of private ownership spending), boarding and care (30%), and veterinary and training services (15%), with top purebred horses’ breeding rights alone fetching USD 200,000 to USD 600,000 per session. A typical case is a Chinese UHNWI in the financial industry who purchased a champion Thoroughbred from the 基兰九月周岁马拍卖会 (Keeneland Yearling September Sale) for USD 3.2 million, spending an additional USD 180,000 annually on boarding at 天星调良国际马术俱乐部 (Tianxing Tiaoliang International Equestrian Club) and professional training.
4.2 Equestrian Club Memberships: High-Growth Social and Service Demand
Equestrian club memberships were the second-largest consumption category for Asian UHNWIs in 2025, accounting for 33% of total equestrian spending, driven by the pursuit of exclusive services, social networking, and professional training facilities. Data shows that 81% of Asian UHNWIs held memberships in top-tier equestrian clubs, with the average annual spending reaching USD 47,124. The main membership types included lifetime memberships (45% of club spending) and annual memberships (35%), with lifetime membership fees ranging from USD 500,000 to USD 1.8 million, such as 天星调良国际马术俱乐部 (Tianxing Tiaoliang International Equestrian Club)’s horse owner membership priced at RMB 198,000 (approximately USD 27,500) plus annual fees of RMB 6,000 (approximately USD 830). Clubs in Japan focused on wellness-oriented services, while those in Singapore prioritized cross-border social events, with 79% of club members participating in exclusive salons and networking activities hosted by the clubs, often in collaboration with luxury brands or financial institutions.
4.3 Equestrian Training and Competitions: Emerging Professional Demand
Equestrian training and competitions became a fast-growing category for Asian UHNWIs in 2025, accounting for 17% of total equestrian spending, focusing on professional skill improvement and competitive experiences. The main services included private training sessions (48% of training spending), professional coaching (32%), and equestrian competitions (20%), with the average annual spending per UHNWI reaching USD 24,276. Private training sessions with international coaches cost USD 500 to USD 1,200 per hour, with 63% of UHNWIs booking 2-3 sessions per week to improve their skills. High-end equestrian competitions, such as the Asian Equestrian Championships and regional private tournaments, attracted significant participation, with UHNWIs spending an average of USD 35,000 per competition on entry fees, equipment, and coaching. In China, 58% of UHNWIs participated in at least one professional equestrian competition per year, while in Japan, UHNWIs focused more on amateur competitions and wellness-oriented training, aligning with their leisure-focused equestrian preferences.
5. Regional Consumption Distribution of Asian UHNWIs Equestrian
5.1 China Market: Private Horse Ownership and Club-Driven High Growth
The Chinese market (including Hong Kong SAR) remained the core consumption area for Asian UHNWIs in equestrian consumption in 2025, accounting for 56.2% of the total Asian consumption volume, showing a high-growth trend driven by private horse ownership and high-end club memberships. The total scale of China’s high-end equestrian market reached RMB 258 billion, with a year-on-year growth rate of 16.7%, and the average annual spending per UHNWI reached USD 158,900. In mainland China, Beijing, Shanghai, and Shenzhen were the core consumption cities, accounting for 64.5% of China’s total consumption, with a high demand for private horse ownership, exclusive club memberships, and professional training. Hong Kong SAR’s consumption volume reached USD 26.8 billion, a year-on-year increase of 13.2%, with UHNWIs preferring purebred horse ownership and international equestrian competitions, leveraging its convenient import channels for purebred horses. China’s high-end equestrian market is dominated by male consumers, with 70% of male UHNWIs allocating over 63% of their equestrian budget to private horse ownership and competitive training.
5.2 Japan and South Korea Markets: Wellness and Leisure-Oriented
Japan and South Korea were the second-largest consumption regions for Asian UHNWIs in equestrian consumption in 2025, accounting for 24.5% of the total Asian consumption volume, with a focus on wellness, leisure, and purebred horse breeding. Japan’s high-end equestrian market scale reached USD 21.9 billion, a year-on-year increase of 8.8%, with 42% of UHNWIs being over 55 years old, driving demand for horse retirement care, wellness training, and purebred horse breeding, as Japan’s equestrian industry in 2025 reached a scale of 100 billion yen, comparable to the anime industry. The average annual spending per UHNWI in Japan reached USD 112,800, with horse care and wellness training accounting for 47% of total spending. South Korea’s market scale reached USD 17.2 billion, a year-on-year increase of 9.3%, with UHNWIs preferring modern, luxury equestrian clubs that integrate training and social services. The equestrian industry in South Korea is highly mature, with a focus on personalized services and digital management, catering to UHNWIs’ demand for leisure and socialization.
5.3 Southeast Asia and South Asia Markets: Emerging and Tourism-Driven
Southeast Asia and South Asia markets became emerging consumption areas for Asian UHNWIs in equestrian consumption in 2025, accounting for 19.3% of the total Asian consumption volume, driven by luxury tourism and cross-border equestrian demand. Singapore remained the core market in Southeast Asia, with a market scale of USD 14.8 billion, a year-on-year increase of 11.1%, and its high-quality equestrian facilities and strategic location attracting a large amount of cross-border consumption. Thailand’s market scale reached USD 11.7 billion, a year-on-year increase of 12.3%, with UHNWIs preferring equestrian tourism experiences that integrate coastal resorts and riding activities. India’s market grew rapidly, with a year-on-year increase of 14.3%, driven by the growth of local UHNWIs and the demand for equestrian as a symbol of social status, making it a key emerging market for high-end equestrian consumption.
6. Consumption Behavior and Decision-Making Factors of Asian UHNWIs
6.1 Consumption Decision-Making Process and Participants
The equestrian consumption decision-making process of Asian UHNWIs in 2025 was highly standardized and rational, usually going through four stages: demand positioning, service/horse selection, budget allocation, and post-consumption evaluation. Demand positioning mainly focused on equestrian purpose (leisure, training, social, competitive), exclusivity requirements, and personal preferences, with 90.1% of UHNWIs conducting in-depth research on equestrian clubs, horse breeds, and training services before making consumption decisions. Service/horse selection focused on exclusivity, professional capabilities, and quality, with 81.8% of UHNWIs choosing top-tier equestrian clubs or purebred horses with certified lineages. Budget allocation included horse purchase (if applicable), club memberships, training, and maintenance, with the average decision-making cycle of 3-4 months. The main participants in decision-making included UHNWIs themselves, family members, professional equestrian advisors, and family office executives, with family offices playing an increasingly important role in budget control and service supervision.
6.2 Key Decision-Making Factors and Weight Distribution
The equestrian consumption decision-making of Asian UHNWIs in 2025 was mainly driven by five key factors, with distinct weight distributions. The most important factor was exclusivity and privacy, accounting for 34% of the total weight, reflecting UHNWIs’ core demand for avoiding crowds and enjoying personalized equestrian experiences. The second factor was professional service quality, accounting for 24%, with 83% of UHNWIs requiring equestrian clubs to provide certified trainers, high-quality horse care, and exclusive facilities. The third factor was horse quality and lineage (for private ownership), accounting for 18%, with UHNWIs prioritizing purebred horses with excellent bloodlines, such as those from top auctions like Keeneland Yearling September Sale. The fourth factor was brand reputation, accounting for 14%, with well-known equestrian clubs and horse breeds with a long history and good industry reputation being preferred. The fifth factor was social value, accounting for 10%, with UHNWIs favoring clubs that provide high-end social networking opportunities and exclusive events.
6.3 Consumption Budget and Payment Methods
The equestrian consumption budget of Asian UHNWIs in 2025 showed a trend of rationalization and long-termization, with the average budget accounting for 4.8% of their total assets, an increase of 1.1 percentage points from 2024. Specifically, the annual budget for private horse ownership averaged USD 245,000, with 55% allocated to horse purchase, 30% to boarding and care, and 15% to veterinary and training services. For equestrian club memberships, the average annual budget was USD 108,900, with 45% allocated to membership fees, 35% to training services, and 20% to club events and amenities. In terms of payment methods, 77% of UHNWIs adopted installment payment for high-value horse purchases and lifetime memberships, with 30% paid as a deposit, 40% paid in installments within 1 year, and 30% paid after confirmation of horse health or membership rights. 19% of UHNWIs paid in full, mainly for annual memberships and training sessions, and 4% used family trust funds to cover equestrian-related expenses.
7. Risk Analysis of Asian UHNWIs Equestrian Consumption
7.1 Market Risk and Service Quality Hidden Dangers
Market risk was the most important risk faced by Asian UHNWIs in equestrian consumption in 2025, mainly caused by uneven market quality, false propaganda, and unqualified services. Although the market concentration increased, there were still a large number of mid-tier equestrian clubs with insufficient professional capabilities, leading to quality problems such as false promises of purebred horse lineages, poor horse care, and unqualified training services. Data shows that 38.7% of Asian UHNWIs encountered quality problems in equestrian consumption, with 31.3% of them being misled by false propaganda about horse lineages, and 20.1% experiencing substandard horse care services. For example, some unqualified clubs claimed to provide purebred horses but delivered crossbred ones, leading to economic losses for UHNWIs, with an average loss of USD 78,000 per case, especially for high-priced purebred horse purchases. Additionally, the high cost of horse maintenance and potential health issues posed additional financial risks.
7.2 Regulatory Risk and Policy Changes
Regulatory risk was another key risk faced by Asian UHNWIs in equestrian consumption in 2025, mainly reflected in changes in equestrian-related policies, such as purebred horse import regulations, animal health supervision, and tax policies. In some Asian countries, changes in purebred horse import regulations, such as stricter quarantine procedures, increased the cost and time of importing high-quality horses, affecting UHNWIs’ private horse ownership plans. In China, the government strengthened the supervision of equestrian club operations and animal welfare, with some unqualified clubs being shut down, affecting UHNWIs’ membership rights. In addition, changes in tax policies related to horse ownership and equestrian services, such as adjustments to tax deductions for horse purchase costs, led to increased consumption costs, with 29.1% of UHNWIs reporting losses due to policy changes.
7.3 Operational Risk and Asset Depreciation Risk
Operational risk and asset depreciation risk were important risks faced by Asian UHNWIs in equestrian consumption in 2025, mainly related to the operational capabilities of equestrian clubs and the depreciation of purebred horses. Some small and medium-sized equestrian clubs lacked sound operational management systems, leading to issues such as mismanagement of horse care funds and poor facility maintenance, with 19.8% of UHNWIs encountering such problems. Purebred horses, as high-value assets, face significant depreciation risks, especially as they age or suffer from injuries, with an average annual depreciation rate of 12-15%, and retired racehorses often lose most of their market value if they cannot be repurposed for riding or breeding. In addition, the high cost of veterinary care for sick or injured horses could lead to additional economic losses, with 39.5% of UHNWIs reporting unexpected veterinary expenses exceeding USD 50,000 in 2025.
8. Comparative Analysis with Global UHNWIs Equestrian Consumption
8.1 Consumption Scale and Allocation Proportion Comparison
There were significant differences in the scale and allocation proportion of equestrian consumption between Asian UHNWIs and global UHNWIs in 2025. The average annual spending on equestrian activities per Asian UHNWI reached USD 142,800, which was 17.5% higher than the global average of USD 121,500, reflecting Asian UHNWIs’ stronger emphasis on exclusivity and social value of equestrian activities. In terms of the proportion of equestrian consumption in total asset allocation, Asian UHNWIs accounted for 4.8%, while global UHNWIs accounted for 3.3%, with North American UHNWIs accounting for 3.1% and European UHNWIs accounting for 3.5%. In terms of consumption structure, Asian UHNWIs allocated a higher proportion of funds to private horse ownership (42%) and club memberships (33%), while global UHNWIs allocated more funds to equestrian competitions (28%) and training services (25%), with a lower focus on private horse ownership.
8.2 Consumption Preference and Focus Comparison
Asian UHNWIs and global UHNWIs showed significant differences in equestrian consumption preferences and focus in 2025. Asian UHNWIs focused more on exclusivity, social networking, and private horse ownership, with 88% of them owning at least one purebred horse and 81% holding high-end club memberships, often using equestrian activities for circle building and business networking. Global UHNWIs had a more diversified focus, with 45% of them focusing on equestrian competitions, 35% on leisure riding, and 20% on private horse ownership. In terms of equestrian orientation, Asian UHNWIs preferred private, exclusive experiences, while global UHNWIs focused more on competitive experiences and public equestrian events. Asian UHNWIs also paid more attention to the social value of equestrian activities, while global UHNWIs focused more on skill improvement and competitive achievements.
8.3 Decision-Making Logic and Service Demand Comparison
Asian UHNWIs and global UHNWIs had obvious differences in decision-making logic and service demand in equestrian consumption in 2025. Asian UHNWIs were more inclined to rely on professional equestrian advisors and family offices for decision-making, focusing on exclusivity, social value, and asset preservation (for purebred horses), with 81.8% of them choosing top-tier local or international equestrian clubs. Global UHNWIs were more independent in decision-making, focusing on personal equestrian preferences and competitive goals, with 64.5% of them choosing niche equestrian clubs and personalized training solutions. In terms of service demand, Asian UHNWIs paid more attention to exclusive services, such as private horse care and customized social events, while global UHNWIs focused more on professional training and competition support, with lower demand for high-end social services.
9. Future Trends and Consumption Suggestions for 2026
9.1 Future Consumption Trends of Asian UHNWIs Equestrian
The equestrian consumption trends of Asian UHNWIs in 2026 will continue to be characterized by exclusivity, professionalization, and cross-industry integration, with three obvious trends. First, private horse ownership will become more refined, with UHNWIs focusing on high-quality purebred horses with certified lineages and personalized care services, driven by the pursuit of exclusivity and asset value preservation. Second, the integration of digital technology and equestrian services will be further deepened, with AI-driven horse health monitoring, intelligent training analysis, and virtual equestrian experiences becoming mainstream, improving the efficiency and experience of equestrian activities. Third, cross-industry integration will expand, with equestrian clubs integrating more closely with luxury goods, wealth management, and wellness industries, similar to the successful partnership between 平安银行 (Ping An Bank) and 骊骅马业 (Lihua Horse Industry), and the family-oriented equestrian services market will grow rapidly as UHNWIs extend their equestrian experiences to their families.
9.2 Market and Policy Outlook for 2026
The market and policy environment for Asian UHNWIs’ equestrian consumption in 2026 will be generally favorable, with continuous market expansion and policy optimization. The total scale of the Asian high-end equestrian market is expected to reach USD 177.9 billion, a year-on-year increase of 12.2%, with China, Japan, and Singapore remaining the core markets. In terms of policies, China will continue to support the development of the high-end equestrian industry, expanding the construction of professional equestrian clubs and simplifying purebred horse import procedures. Japan and South Korea will further strengthen policies to support equestrian wellness services and purebred horse breeding, while Southeast Asian countries will introduce more preferential policies to attract cross-border equestrian consumption, providing more opportunities for UHNWIs. Additionally, the global equestrian market’s growth to 3000 billion USD will drive Asian market expansion.
9.3 Consumption Suggestions for Asian UHNWIs
Based on the analysis of the 2025 market and the outlook for 2026, this report puts forward three consumption suggestions for Asian UHNWIs. First, focus on club reputation, professional capabilities, and horse lineage when selecting equestrian services or purchasing purebred horses, prioritize clubs with strict service standards and certified trainers, and conduct in-depth verification of horse lineages to avoid false propaganda and unqualified services. Second, rationally formulate equestrian consumption budgets, clarify the allocation ratio of private horse ownership, club memberships, and training services, and choose flexible payment and membership models to reduce economic risks caused by horse depreciation and policy changes. Third, actively embrace digital and intelligent equestrian services, participate in equestrian activities that match personal needs and social goals, and make full use of cross-industry resources to enhance the equestrian experience and social value. In addition, UHNWIs should pay attention to policy changes and animal welfare regulations in equestrian-related fields to avoid regulatory risks.
