In Australia, the Melbourne Cup was won by a home horse for the first time since 2009 as Green Moon headed off a strong field of "international invaders."

France's Prix de l'Arc de Triomphe was won by four-year-old filly Solemia, who denied Japan's Orfevre in his bid to become the first non-European trained victor. Danedream was unable to defend her title due to an outbreak of equine infectious anaemia at the racing yard in the German city of Cologne where she is trained.

Dubai's ruler Sheikh Mohammed celebrated as Mikael Barzalona rode Monterosso to victory in the the emirate's World Cup in April, but the result was somewhat overshadowed by the death of another Godolphin horse, Fox Hunt, in the inaugural Gold Cup held earlier in the meeting.

Weathering the storm

The biggest challenge for the UK racing industry this year? The great British weather -- which forced the cancellation of 119 races up to the start of December.

"After the Diamond Jubilee weekend it didn't stop raining until the end of July," Bazalgette said. "There was a good six weeks when we lost meetings."

Whatever the weather, the outlook looks bright for horse racing in 2013.