This weekend is a break from the FedEx Cup playoffs before the PGA Tour heads to Chicago for the BMW Championships at Conway Farms Golf Club. Despite not having played the 2013 BMW Championships yet, promotion for the 2014 BMW Championship at Cherry Hills in Denver, Colorado is already underway! With a break in the playoffs, we actually have a moment to reflect on the economic impact from the game of golf, with CNN Living Golf taking an in-depth look at the numbers!
The FedEx Playoffs consist of four events, with its title sponsors being Barclays Bank, Deutsche Bank, BMW and Coca Cola, who is sponsoring the final event, the Tour Championship in Atlanta, Georgia. With these four powerhouses of corporations, the total prize money in the FedEx Cup playoffs adds up to a whopping $67 million! This number is mind boggling, considering the deep recession in 2008 was not too long ago. However, it is also an industry that employs “close to two million Americans with a combined wage income of $55.6 billion!” In addition, it is estimated that the golf industry “generated $68.8 billion in goods and services in the U.S. in 2011, with a total economic impact of $176.8 billion.”
These numbers are not small by any means, and the growth of the game globally, such as in Asia, will only impact the global economy in a positive way. President Obama is a known avid golfer, though he is often criticized for spending too much time on the game, he might want to spend more time on the practice greens! Regardless, if one of the world’s busiest man has time for golf, we definitely cannot underestimate the impact that golf has on the global economy. For more details, have a read of the article on CNN Living Golf!
Source: CNN Living Golf
