Horse racing is a sport that captured the hearts of billions of people worldwide. It is one of the most globally spread sports that doesn’t know much about borders.
The sport that originated in Great Britain, traveled thousands of miles and reached places like Vietnam. Vietnam has a long history of horse racing. It had a lot of ups and downs, but it seems like the sport is starting to recover and rise in popularity.
In recent years, Vietnam has been witnessing a remarkable transformation to its entertainment landscape, and horse racing has emerged as one of the most popular activities in the region.
Let’s dive deeper into the horse racing culture in Vietnam and find out more about the current state of the sport there.
Horse Racing History In Vietnam
Despite the sport being available to the locals for hundreds of years, it really didn’t catch on. Horse racing was brought to Vietnam in the colonial era by French settlers. It was their way of building entertainment hubs for themselves, which was the first time that the locals saw an organized horse race.
However, horse racing in Vietnam didn’t really catch on with the locals. Yes, it was popular in certain areas, but it is not like the Kentucky Derby in the US. However, if Vietnamese racing enthusiasts can keep up with the official results of the Kentucky Derby, they are unlikely to be able to place a wager in Vietnam.
After a while, Vietnamese people started to appreciate horse racing. Somehow their perspective changed which led to a huge growth of the horse racing industry in Vietnam.
But why horse racing is growing in popularity right now? Well, there are several things that led to a sudden increase in interest in the horse racing industry.
Cultural Shift
Let’s be honest, Vietnam isn’t the first place that comes to mind when you think of horse racing, and it has been like that for years.
So, how did a sport that didn’t appear as fun or exciting for the locals start to grow again?
Well, it all comes down to globalization and international influences. Nowadays, horse racing is a massive global sport with events like the Kentucky Derby attracting 170,000 spectators. Remember, we live in an era of the internet and technology, which is why these global trends quickly travel for thousands of miles and can be spotted in other parts of the world.
In other words, if horse racing grows in popularity in the US or UK, there is a big chance it will get on the same trend in Vietnam due to globalization.
Rising Popularity
Vietnam is a country where we can see a steady growth of the middle class, which is directly linked to unique entertainment options like horse racing. Being a unique sport, the growing middle class seeks new entertainment options that were not available before.
Societal Acceptance
Gambling is a big part of every region, and since online casinos are strictly prohibited in Vietnam, the only available choice is sports betting, which also includes horse racing. This shift in perception has contributed significantly to the industry’s growth.
The Racing Scene
Despite its not-so-rich history with the sport, today, Vietnam boasts state-of-the-art racing tracks that rival those found in established horse racing hubs like the United States and Europe.
The Phu Tho Racecourse in Ho Chi Minh City is one of the largest racetracks in Vietnam; it is renowned for both its thrilling racing events and its state-of-the-art amenities.
That’s about it. Vietnam isn’t a country with a few different horse racing courses. After all, horse racing in the country has recently gained popularity, so we have to wait for a couple of years until the locals start to invest in the sport.
Attendance at major racing events has skyrocketed, with a 40% rise in the number of spectators compared to the previous year.
This is proof that the sport is trending at the moment, and let’s hope that the government and other institutions will work together in order to make the sport even more available for the locals.
Economic Impact: Boosting Tourism and Revenue Generation
Horse racing activities have grown to be a key draw for both domestic and foreign travelers. The number of hotel reservations, restaurant visits, and total tourism spending all rise in the cities that host racing events.
- Employment Creation: The construction of infrastructure related to horse racing, including racetracks, stables, and training centers, has resulted in the creation of jobs in a number of industries. The business has grown to be a major employer, hiring people for everything from jockeys and trainers to hotel personnel and event planners.
- Revenue Generation: The horse racing industry is not just about thrilling races but also substantial economic gains. Betting activities, sponsorships, media rights, and merchandise sales contribute to a robust revenue stream, benefiting both the industry stakeholders and the government through taxes and fees.
Social Engagement
Horse racing has become more than just a sporting event; it’s a social phenomenon that brings communities together.
The community building among racing enthusiasts, the thrill of cheering for favorite horses, and the shared excitement of witnessing close finishes create a vibrant atmosphere that transcends the boundaries of age, gender, and background.
It is a growing industry in Vietnam, and experts believe that we will see a lot more horse racing action there.