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The game of golf is growing
and reaching new markets.
This growth is evident in global participation (numbers and a broader range of age groups & demographics), facility development, its engagement and reach via new media channels and its economic impact.
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89%
41%
Asia has been home to 41% of new course openings since 2016, and 28% of the new golf courses under development are in Asia and the Middle East.
Source: R&A Golf Around the World, 2021
5.1b
Consumer spending by UK golfers increases to £5.1 billion
A Satellite Account for Golf in the UK, Sport Industry Research Centre, 2022
insights
More consumers are playing the sport at entertainment venues like TopGolf or on virtual simulators and engaging with the sport on more diverse digital platforms.
In 2020, the golf industry and the companies that serve it witnessed a reversal of the sport’s downward trend as Americans looked for safe, socially distanced outdoor activities. With the 2021 golf season just beginning, it will be interesting to see if the sport continues to increase in popularity as the country returns to a new post-pandemic “normal.”
Based on data from Golf Datatech, equipment producers saw 2020 sales totaling $2.81 billion for the year, a 10.1% increase compared to 2019. Last year’s sales were just shy of the 2007 ($2.87 billion) and 2008 ($2.91 billion) records, emphasizing the impact the pandemic has had on golf. July alone smashed the single-month retail sales record at $388.63 million.
Source : Fact Set
HEAR IT FROM THE EXPERTS
IAN THOMAS
CNBC Evolve
“Golf surged in popularity in 2020 by nearly every metric, as people sought out the socially distanced outdoor activity amid the pandemic. 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”
CHIP BREWER
Callaway CEO
“More people are joining golf courses, there are more entrants into the game, more consumers and we think the long-term trends are going to be quite attractive, the market is going to be larger coming out the pandemic than coming in."
(CNBC, June 2021)
Michael Thannhäuser
General Secretary of the EGA
“It is highly encouraging that during a challenging two years, the number of registered golfers in Europe has grown with increases seen in nearly three quarters of the total European countries.
