Golf’s economic impact continues to grow

WE ARE GOLF – a coalition of the game’s leading associations and industry partners – unveiled its new U.S. Golf Economy Report at the National Press Club in Washington, D.C., in conjunction with 11th annual National Golf Day.
 
Highlighting the study – conducted by TEConomy Partners – is $84.1 billion in activity directly driven by golf in 2016, a 22 percent rise from $68.8B in the 2011 report. The industry supported $191.9B in total annual activity, including 1.89 million jobs and $58.7B in wages and benefits.
 
Golf’s annual contributions to America’s economy also include:
--$34.4B in revenue from golf courses, clubs, resorts, driving ranges and other facilities (2.9 percent compound annual growth rate since 2011)
--$25.7B in tourism spending (4.6 percent CAGR)
--$7.2B in new home construction in golf communities (18.5 percent CAGR)
--$6B in sales of golf equipment, apparel and supplies (1.4 percent CAGR)
--$2.4B in professional tournaments, associations and player endorsements (3.16 percent CAGR)
--$1.9B in investment in existing golf facilities (4.6 percent CAGR)
Demonstrating golfers’ and businesses’ commitments to charity, $3.94B was raised in 2016 through tournaments and other activities.
 
“The many positive trends show how golf is vital to the prosperity of America’s economic and social well-being," says Steve Mona, CEO of the World Golf Foundation and administrator of WE ARE GOLF. “Increases in so many categories signify the health of golf has far-reaching influence across many sectors of the U.S. economy.”
 
The fourth report since 2000 to measure the game’s effect, research encompassed golf course operations, tourism, real estate, supplies, tournaments, associations, charitable events, capital investment and other commercial segments.