The U.S. Golf Economy Report, a five-year study by GOLF 20/20 and TEConomy Partners, found that $84.1 billion of economic activity was generated by golf, an increase from the previous study conducted in 2011. The study was delivered as part of the 11th annual National Golf Day on April 25.
The findings of the new U.S. Golf Economy Report were presented at the National Press Club in Washington, D.C., industry coalition WE ARE GOLF, a coalition of the PGA Tour, LPGA, USGA, PGA of America, Golf Course Superintendents Association of America, the International Association of Golf Course Architects and the National Golf Course Owners Association, reported.
Highlighting the results of the five-year study by GOLF 20/20 and TEConomy Partners, was the $84.1 billion of economic activity golf generated. This represents more than a 22% rise in growth from the previous study conducted in 2011. Overall, the industry supports $191.98 billion in activity, 1.89 million jobs and $58.7 billion in compensation.
Additional statistics found in the U.S. Golf Economy Report include:
- $33.3 billion of revenue generated by U.S. golf facilities
- $28.5 billion of tourism spending earned by U.S. golf
- $7.2 billion of new golf home construction occurred
- $6 billion made from sales of golf equipment, apparel and media
- $3.94 billion in charitable fundraising supported
“The positive trends this study details regarding the entire golf industry helps to show how vital the game is to the prosperity of our economy and entire nation,” said Steve Mona, World Golf Foundation CEO, administrator of GOLF 20/20 and WE ARE GOLF. “The impact the industry’s health has on millions of Americans cannot be understated. With so much riding on the game’s success, we’re extremely pleased that a comprehensive study of this nature can provide such encouraging results.”
Since 2000, this is the fourth such analysis to measure the game’s positive impact on multiple sectors of the U.S. economy. Several segments of the golf industry were researched, including facility operations, tourism, real estate, supplies, tournaments, associations, charitable events and capital investment.
The 11th annual National Golf Day, scheduled for April 25, will bring industry leaders to Capitol Hill to meet with Members of Congress, the Executive Branch and federal agencies to discuss golf’s 15,000 diverse businesses, two million jobs impacted, tax revenue creation and tourism value.
According to a report by Forbes, the recreational side of golf, however, has been in a recession for nearly 20 years. The Tiger Woods-fueled growth in the 1990s was hit first by the impact of the September 11, 2001, terror attacks on the travel economy and then by the market collapse in 2008 and the Great Recession.
Add in that water use has become a political and economic issue and that the time it takes to play 18 holes, and golf is a tough sell to a younger generation. All of this forced the golf industry to organize. It formed WE ARE GOLF to become the game’s voice, Forbes reported.
One growth area is non-traditional facilities, like TopGolf Entertainment Group, which now has 38 facilities in the United States, three in the United Kingdom, employs 15,000 people and has about 13 million customers annually. TopGolf is a driving range with micro-chipped golf balls, giving players instant feedback on distance and accuracy and allowing them to compete against each other. It’s also a party atmosphere with music, food and drink that connects with young people. Golf has been looking for its snowboarding—the activity that revitalized the skiing economy—and TopGolf may be it, Forbes reported.
For more information on National Golf Day, click here.
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