what is the golf industry worth

How much money is in the golf industry?

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. 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.

What is the future of the golf industry?

The golf course industry was dominated by US companies in 2020. The golf apparel market is set to grow by 4% in 2020–2024. Recent mini-golf industry statistics reveal declining interest. Stats on the golf cart industry hold a positive outlook. In Canada, there are 180 golf equipment stores as of December 2020.

How much do you know about the world’s top golf brands?

In 2019, total golf equipment wholesale sales in the U.S. including golf clubs and balls amounted to more than 2.3 billion U.S. dollars. The leading golf equipment/apparel companies in the world include Acushnet, Callaway Golf, as well as NIKE golf. In 2020, worldwide revenue of Callaway Golf amounted to almost 1.6 billion U.S. dollars.

What is the economic impact of a professional golfer?

Golf is an $84 billion economic engine that drives nearly 2 million jobs and contributes more to charity than any other major sports industry.

How much is the 2020 golf industry?

The US golf industry statistics show that the country clubs & golf courses boasted quite the income. According to IBISWorld's report from 2020, the market was worth $25,362.5 million that year, and it is expected to keep growing.

How much is the golf industry worth worldwide?

b. The global golf equipment market size was estimated at USD 6.65 billion in 2019 and is expected to reach USD 6.85 billion in 2020....Report AttributeDetailsMarket size value in 2020USD 6.85 billionRevenue forecast in 2025USD 7.6 billionGrowth RateCAGR of 2.2% from 2019 to 202511 more rows

How much is the golf business worth?

Golf is a nearly $70 billion industry.

How much money does the golf industry generate per year?

The biggest economic driver for golf was facility operations, as approximately 15,000 golf facilities in the U.S. generated almost $33.3 billion in operating revenue in 2016 -- money that comes from greens fees, membership fees and range fees, golf cart rentals and spending on food and beverage.

Is golf growing as a sport?

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.

How big is golf in the world?

Golf is available around the globe. As of year-end 2018, there were 38,864 golf courses in 209 of the world's 249 countries. That's an 84% diffusion rate of the sport globally.

How big is the golf industry market?

Report Overview The global golf club market size was valued at USD 3.66 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 2.5% from 2020 to 2027. The market is majorly driven by the growing popularity and adoption of golf as an active sport.

Is golf gaining or losing popularity?

Golf is on the decline in America. That reality has finally smacked us in the face like a two-by-four. The number of core American golfers (those playing eight rounds or more per year) has fallen between three and 4.5 percent every year since 2006.

How does golf help 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.

How much money can you make owning a golf course?

Golf Course Owners make between $30,000 to several hundred thousand dollars per year. However, golf course owners sometimes will lose money if the course has a bad year. Overall, the golf course industry is very volatile, and there is no guarantee that money will be made.

How much does the average golfer spend per year?

Golf reviewer, Jason Scott Deegan, estimates that a year of golf can cost $832–$3,454 for junior players and $1,849–$3,349 for adult golfers. Meanw...

Is the number of golfers increasing?

Yes, in the short term. In the long term, though, there’s an overall decline. According to the National Golf Foundation, there was a net increase o...

How much is the golf industry worth?

The National Golf Foundation estimated the industry’s worth to be $84 billion in 2019. In terms of golfing equipment, the report claims that the cl...

What are the leading golf equipment companies?

The leading golf equipment/apparel companies in the world include Acushnet, Callaway Golf, as well as NIKE golf. In 2020, worldwide revenue of Callaway Golf amounted to almost 1.6 billion U.S. dollars. The Royal Troon Golf Club in Glasgow, Scotland is the leading golf course management company and currently owns 278 golf courses worldwide in 2020.

How much money will golf clubs make in 2024?

Revenue from golf course and country clubs is projected to reach approximately 24.65 billion U.S. dollars in the United States by 2024. As of 2019, the number of golf participants in the U.S. stood at approximately 24.3 million.

When did golf become a sport?

Since its emergence as a major spectator sports in the 1920s, golf has grown to become not only a popular recreational activity but also a sport with a major economic impact .

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 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 is golf participation?

Golf participation is a core measure of golf’s vitality. NGF closely tracks how many people play the game, as well as the demographic composition of golfing America.

How much is the golf industry worth?

It includes some 15,000 facilities and is worth approximately $84.1 billion.

How much is golf worth in 2020?

It includes some 15,000 facilities and is worth approximately $84.1 billion. 8. In 2020, 101 million Americans engaged in golf-related activities.

How much did the number of golf tournaments drop in 2020?

Recent statistics indicate that there was a flabbergasting 42.2% drop in the number of rounds played in April 2020 compared to April 2019 due to tournament cancellations.

How many golfers are male?

Since 77% of US golfers are male, this information doesn’t seem surprising. Furthermore, although golf industry demographics clearly reflect a rise in the number of younger participants, senior citizens remain the most common golfers.

Why is golf considered a rare sport?

This is mostly because it’s an outdoor sport. It allows participants to maintain physical distance and demands very little close communication, if any.

How many golf courses are there in the world?

More specifically, the latest data tells us there are 38,864 golf courses worldwide. However, the sport isn’t popular everywhere, at least not for now. Golf hasn’t reached glory yet in 16% of the countries in the world. In the remaining 84% of them, there’s at least one golf course.

How many Americans play golf?

Additionally, almost 37 million Americans aged six or older played the sport (on and off course).

The history of the US Country Club

Today, there are 9,562 Golf Courses & Country Clubs businesses in the US.

What the latest country club statistics & trends mean for your club

Traditionally, a country club’s image of exclusivity and networking looked like men doing business while lunching at the club or playing a round of golf. Today, things have changed significantly.

Country club trends to watch for in 2022

Gen Z & Millennials have different values and priorities than older generations, and country clubs have to evolve to keep up. Below are 2 main areas that you need to pay attention to.

Golf Course Trends

Interest in golf is on the rise – according to NGF, 501.8 million rounds of golf were played in 2020 ( up 60 million rounds or 14% from 2019) & 3 million people played golf for the very first time in 2020. That's a record number of beginners.

AP Automation is the future of club management

According to IOFM, ( Institute of Finance Management ), 71% of AP departments are automating in 2021. So, if you’ve been holding out & holding tight to your paper invoices and ledgers, now’s the time to be part of that 71% and jump on board with AP automation.

Country club statistics tell a story

Country club and golf industry statistics and trends tell a story about how things are changing. Members’ interests and priorities are shifting, and it's important that your club pivot to stay on top.

How much was the golf industry 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.

How much money did golf generate in 2016?

The biggest economic driver for golf was facility operations, as approximately 15,000 golf facilities in the U.S. generated almost $33.3 billion in operating revenue in 2016 -- money that comes from greens fees, membership fees and range fees, golf cart rentals and spending on food and beverage. Operational revenue was up almost 12% from $29.8 billion in 2011, a noteworthy turnaround after the financial crisis that ended in 2010.

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 did golf equipment sell 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 many jobs are there in golf?

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 the more than 15,000 businesses involved with golf, the almost two million jobs impacted and the other economic, charitable and fitness benefits.

Is Forbes opinion their own?

Opinions expressed by Forbes Contributors are their own.

Why is golf important?

Moreover, golf embodies critical human values and elevates important role models that are critical for sustainable communities and healthy societies. By spreading the spirit of golf and making it more accessible to people of all ages and demographics, we can help bring communities together under a shared love of the game.

Why is golf good for you?

Golf provides everyone with the opportunity to ditch the screens and go outside, building upon healthy exercise habits. Being less injury prone than contact sports, conditioning for golf helps improve the strength of core muscles that support the spine and improve flexibility.

What does a consumer want from a PGA Professional?

Today’s consumer understands the value of working with a highly trained PGA Professional, but they want more than the traditional approach. They also want to engage with us via technology, scheduling apps and video. It’s about engaging the consumer, at the right age, during the right time in their golf development.

How many USGA championships are there?

Davis: As a whole, it’s strong. You can feel that at any one of the USGA’s 14 national championships and internationally in particular where we’re seeing the game grow at an encouraging rate. Golfers are extremely passionate about their sport which means they’re emotionally invested – and we wouldn’t want it any other way. It’s inspiring to know that so many share such a deep love for the game as we do at the USGA. That’s not to say, however, that there aren’t challenges we need to overcome for the game to be successful long-term. Particularly, we need to help golf courses identify and proactively address issues common in the game such as rising operational costs, the time it takes to play the game and improving the golfer experience at green-grass facilities. It’s also imperative that we continue to invest in research to make golf courses more sustainable both financially and environmentally, and we need to think of more ways to make golf accessible for all.

How long has golf been around?

Golf has been around for more than 600 years and its evolution is ongoing. As the world changes at a rapid pace it’s up to us to make sure that the game maintains that pace. We’re all in this together, united by our love for the game.

What are the environmental benefits of golf courses?

And, the environmental benefits that golf courses provide as green spaces, wildlife habitats and as filters for runoff

How many people play golf in 2019?

More than one-third (36%) of the U.S. population – over 107 million people in total – played, watched or read about golf last year.