Golf is often a game that is very much underappreciated. However, one cannot deny the worldwide popularity of the game! Despite the slight setback in the game of golf during the most recent recession, the game of golf remains strong and there are more than 26 million golfers just in the United States alone! The economic impact of golf is huge and Bloomberg takes a more detailed look at the “Real Economic Impact of Golf” in one of its recent articles! With the latest data from market researcher SRI International, Bloomberg examines thirteen categories that the game of golf has an economic impact on. It’s safe to say that we contribute to the economy in a few of those categories!
The Golf Economy: $69 billion
Course Construction and Investments: $2.07 billion
Golf Real Estate Construction and Sales: $4.7 billion
Golf Clothing and Accessories: $2.1 billion
Golf Equipment: $3.5 billion
Sales of Golf Carts: $625.2 million
Golf Operation Revenues: $30 billion
Tournament Costs: $1.2 billion
Revenue of Professional Golf Associations: $554 million
Endorsements: $320 million
Money Raised for Charity: $3.9 billion
Golf Tourism: $20.6 billion
Wage Income: $55.6 billion
Source: Bloomberg
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