6.2 Golf Tourism
The global golf tourism market is expected to be valued at 23.1 billion USD in 2023 and continue to grow at a rate of 5.8% between 2023 and 2033 to reach a value of 40.4 billion USD (Play it Right, 2023). This growth is driven by the increasing number of tournaments globally, encouraging significant spending on sporting infrastructure and increasing the number of professional and amateur players worldwide. Sports authorities and governments organize tournaments to attract golfers to their local economies (Play it Right, 2023). This comes after a significant impact on the golf industry experienced during the COVID-19 pandemic. Government support for golf tourism is helping to fuel the forecasted growth.
Government Investment
In August 2022, the Canadian Government invested 4.4 million USD in Golf Canada’s professional tournaments, the RBC Canadian Open and the CP Women’s Open (Grand View Research, n.d.). This investment brought economic benefits and tourists to the region after the industry saw a decrease in golf travellers during the pandemic. The pandemic travel restrictions affected all sports tourism, with the Asia Pacific region affected most significantly due to the strictness of the limits (Grand View Research, n.d.). The World Tourism Organization (UNWTO) World Tourism Barometer calculated an estimated loss of 1.3 trillion USD in export revenues (Grand View Research, n.d.). To recover from these losses, the golf tourism section must focus on creating engaging, integrated experiences for tourists.
Other countries are signifying the importance of golf tourism by investing in industry development strategies.
Read: New Scottish Golf Tourism and Visitor Strategy Launched
Drivers of Golf Tourism
- Golf infrastructure. Investment in golf infrastructure is essential for the growth of the industry. In 2020, there were approximately 38,000 golf courses globally, with North America accounting for roughly half of the total global golf course supply (Golf Industry Network, n.d.).
- Increase in professional golfing tours. North America accounted for the largest revenue share due to the increasing number of professional golfing tours and tournaments.
- Demand for outdoor leisure activity. A rising customer demand for outdoor leisure activity after the pandemic is helping to drive growth in golfing (Bruton, 2023).
Key Takeaways
- The global golf tourism market is projected to grow from $23.1 billion in 2023 to $40.4 billion by 2033, driven by an increase in golf tournaments, infrastructure investments, and rising numbers of golfers worldwide, alongside government and sports authorities’ efforts to boost local economies through these events.
- Additionally, following a pandemic-induced downturn, significant government investments, like Canada’s $4.4 million funding for major tournaments, are aimed at revitalizing the golf tourism sector and compensating for massive losses in sports tourism revenues.
