GOLF 20/20 is a collaboration of leading organizations representing all segments of the United States golf industry. Its latest report shows golf’s economic impact of $68.8 billion in 2011. In a study conducted by SRI International, findings are based on several core segments (golf facility operations, golf course capital investment, golfer supplies, tournaments and associations, and charities) and enabled categories (real estate, hospitality, and tourism). When indirect and induced economic activity driven by the golf sector is taken into consideration, a total impact of $176.8 billion was generated. Highlights include:
· 1.98 million jobs
· $55.6 billion wage income
· 25.7 million golf participants
· 15,751 traditional golf facilities
In November 2012, GOLF 20/20 announced the game’s charitable impact of $3.9 billion. Golf as a fundraising vehicle includes an estimated 12,000 golf facilities, 143,000 events, 12 million participants, and raises $26,300 average per function. “The economy has endured two significant recessions the past decade and golf has fared well,” says Steve Mona, CEO of the World Golf Foundation, administrator of GOLF 20/20. “The health and growth of the game has a direct bearing on jobs, commerce, economic development, and tax revenues for U.S. communities and industries.” Golf’s core industries alone exceed the economic impact of spectator sports, the performing arts, and the amusement and recreation industries.
In addition, the GOLF 20/20 Research Committee determined that there were five key metrics that comprise the Golf Business Indicators (GBI) report: Annual participation; annual rounds played; annual golf fee revenue per round; golf course openings and closings; and fan interest.
The following are the Golf Business Indicators, with the 2009 and 2010 results indicated:
Annual Participation (according to National Golf Foundation (NGF):
· 2009 Participation was 27.1 million
· 2010 Participation was 26.1 million
Annual Rounds Played (according to NGF):
· 2009 Annual Rounds Played were 486.2 million
· 2010 Annual Rounds Played were 475.0 million
Annual Golf Fee Revenue Per Round (according to PGA PerformanceTrak):
· For All Facility Types in 2009 the Average Fee was $27.47
· For All Facility Types in 2010 the Average Fee was $27.15
Golf Course Openings and Closings (according to NGF):
· In 2009 there were 49.5 Course Openings and 139.5 Closings
· In 2010 there were 46.0 Course Openings and 107.0 Closings
Annual Number of Fans of Professional Golf (according to ESPN Sports Poll, ESPN Kids Poll, US Census):
· The number of fans in 2009 were 103,389,410
· The number of fans in 2010 were 101,714,967
For more information about GOLF 20/20, visit www.golf2020.com.