The industry supported $191.9B in total annual activity, including 1.89 million jobs and $58.7B in wages and benefits. Golf’s annual contributions to America’s economy also include: --$34.4B in revenue from golf courses, clubs, resorts, driving ranges and other facilities (2.9 percent compound annual growth rate since 2011)
Full Answer
What is the economic impact of golf?
The Economic Impact Of Golf: $84 Billion In The U.S. Opinions expressed by Forbes Contributors are their own. The latest economic impact numbers for golf are out and they're robust. The game is big business, directly driving $84.1 billion in economic activity across the U.S. in 2016, according to a study commissioned by the World Golf Foundation.
How has golf participation changed in the last year?
Golf participation trended upward last year, and it wasn’t just off-course forms of engagement like Topgolf or the successful comeback of Tiger Woods that spurred the increase. Traditional golf – the kind played on a golf course – saw its first measured jump in 14 years, according to the National Golf Foundation’s new Participation Report.
How big is the golf industry's revenue?
Tourism was the industry's second-biggest contributor, as golf drove about $25.8 billion in revenue. That too is up, from $20.6 billion in 2011. New golf home construction, which closely tracks national trends, climbed to $7.2 billion after dropping to $3.1 billion seven years ago.
How many beginners are in the golf industry?
The industry has had seven straight years with more than 2 million beginners. By comparison, there were 1.5 million beginners in 2011. The key for future growth, however, is retention. off-course only participants. The engagement within this demographic has remained steady for the past seven years.
How does golf affect the economy?
It shows $84.1 billion in activity was directly driven by golf in 2016, a 22% rise from $68.8 billion in the 2011 report. The industry supported $191.9 billion in total annual activity, including 1.89 million jobs and $58.7 billion in wages and benefits.
What impact does golf have on society?
Moreover, golf is a major U.S. industry which has been bolstering economic development opportunities and generating tax revenues for local communities. The industry impacts 2 million jobs across America and approximately has shared $4 billion annual charitable impact.
How is the golf industry doing?
441 million rounds of golf were played in 2019. 24.3 million people played on-course golf in 2019. 41 percent of Americans supported their states allowing the reopening of golf courses during the COVID-19 pandemic. 14 million millennials are interested in playing a game of on-course golf.
Why is the golf industry growing?
The overall golf industry revenue has grown compared to 2019. Golf has surged in popularity in the latter half of 2020. This is because people were looking for socially distanced outdoor activities amidst the pandemic. A 13.9% increase in rounds played meant increased revenue from green fees as well.
How big is the golf industry?
Golf is a nearly $70 billion industry.
How do golf courses help the environment?
But golf courses also have great opportunities to make a positive impact. They can provide wildlife sanctuaries, preserve natural areas in urban environments, support native plants and wildlife, protect water resources, rehabilitate degraded landscapes and promote environmentally-positive management to the public.
Is the golf industry in decline?
Only 130 courses closed in 2021, less than a one percent decline in the overall U.S. supply of 16,035 courses on 14,033 facilities. The National Golf Foundation compiles annual statistics on golf course openings, closings, and renovations, as well as demographic statistics for players and rounds.
What is the state of the golf industry?
More than 24.8 million people played golf in the U.S. in 2020, up more than 2% year-over-year and the largest net increase in 17 years. Golf equipment and apparel has seen massive growth, with golf brands like Callaway and Titleist notching record sales.
What do I need to know about the golf industry?
The golf industry in the States is roughly worth $84 billion. According to a 2019 report, around 36% of the US population is involved with the golf industry one way or another. It's also estimated that there are 24 million golfers who play on courses around the States.
Why has golf become so popular?
Another reason why golf is so popular is that anyone can play. Unlike sports like soccer or basketball, golf doesn't require much athletic ability if you're in it for a casual game. Because golf doesn't require any intense cardiovascular exercise, it can be enjoyed by kids and grandparents of all ages.
Is golf growing as a sport?
In 2020, golf boomed after coronavirus-related shutdowns were lifted, with a net increase of 60 million+ rounds that was the biggest since 1997 – the year a 21-year-old Tiger Woods spurred the game to new heights with his breakthrough major win at the Masters Tournament.
Is golf increasing or decreasing in popularity?
Golf Viewership Is On The Rise As the numbers increase in both rounds played and equipment sales, the number of people who watched golf in 2020 and 2021 also rose. An increase of 69% in the number of viewers for the US Masters Final round in April 2020. A 29% increase in viewers for the PGA Championship.
What is the potential environmental impact of golf tourism?
Environmentalists argue that golf course land is not only a waste of space, but also harbors harmful impacts to the earth and environment, such as pesticide use. This negative impact occurs by using large quantities of water and destroying habitats for wildlife species.
Are golf courses good for animals?
Golf courses are more than just a place to play golf, they provide valuable habitat for a wide variety of plants and animals. Many golf courses are working hard to protect and expand habitat areas to improve our environment and allow us to enjoy nature in action during our round.
How many people will play golf in 2020?
played golf – both on-course and off-course – in 2020. This includes 24.8 million people who played on a golf course and another 12.1 million who participated exclusively in off-course golf activities at places like driving ranges, indoor golf simulators or golf entertainment venues like Topgolf and Drive Shack.
What percentage of golfers are women?
0 %. of on-course golfers are women. Females represent a disproportionately higher percentage of juniors (34%), beginners (36%) and off-course participants (45%) than they do in the overall golf population. Latent Demand.
How much revenue did golf generate in 2011?
Operational revenue was up almost 12% from $29.8 billion in 2011, a noteworthy turnaround after the financial crisis that ended in 2010. Tourism was the industry's second-biggest contributor, as golf drove about $25.8 billion in revenue. That too is up, from $20.6 billion in 2011. New golf home construction, which closely tracks national trends, ...
What is WGF and WE ARE GOLF?
The WGF and WE ARE GOLF, a coalition of the game's leading associations and industry partners, released the new economic report ahead of National Golf Day in Washington D.C. Golf's leaders are gathering in the nation's capitol to meet on Wednesday with members of Congress, the Executive Branch and federal agencies to discuss ...
How much did golf home construction cost in 2016?
On-course and off-course sales of golf equipment, apparel and media were $6 billion in 2016, with the strongest sales growth in the equipment category.
How much will the NGF increase in 2020?
The NGF’s optimistic line of projections suggest that a strong finish to the year could mean an 8% rise year over year, while even a downturn over the last four months of 2020 would still likely result in a year-over-year gain of at least 2%.
Is golf outdoors?
We’ve learned that staying outdoors means a lower risk of transmission, and golf is entirely outdoors. We’ve learned that keeping other people at a distance helps, too, and golf requires no real proximity.
Is golf a quarantine outlet?
But as we learned more about the virus and about our collective response; one thing became more and more clear: golf had the potential to serve as an ideal quarantine outlet.
Can you play golf alone?
You can play golf alone, and you can play without ever going inside, and there’s a good chance you can play without driving too far from your home, too. Golf course operators had reasons to be cautiously optimistic that if they were able to reopen, golfers would flock to the fairways.
Is golf safe?
Plenty of golf’s growth can be directly attributed to the coronavirus: golf is safe, it’s distanced and people have fewer options available. But there are other factors to consider, too, including the weather. The NGF cited a warm, dry summer as partially responsible for the uptick in play, too.
