St Augustine, United States: We Are Golf – a coalition of the game’s leading associations and industry partners – has unveiled the new US Golf Economy Report findings at the National Press Club in Washington DC.
Highlighting the results of the five-year study by GOLF 20/20 and TEConomy Partners, was the US$84.1 billion of economic activity golf generated.
This represents more than a 22 per cent rise in growth from the previous study conducted in 2011. Overall, the industry supports US$191.98 billion in activity, 1.89 million jobs and US$58.7 billion in compensation.
Additional statistics found in the US Golf Economy Report include:
• US$33.3 billion of revenue generated by US golf facilities
• US$28.5 billion of tourism spending earned by US golf
• US$7.2 billion of new golf home construction occurred
• US$6 billion made from sales of golf equipment, apparel and media
• US$3.94 billion in charitable fund-raising supported
“The positive trends this study details regarding the entire golf industry helps to show how vital the game is to the prosperity of our economy and entire nation,” said Steve Mona, World Golf Foundation CEO, and Administrator of GOLF 20/20 and We Are Golf.
“The impact the industry’s health has on millions of Americans cannot be under-stated. With so much riding on the game’s success, we’re extremely pleased that a comprehensive study of this nature can provide such encouraging results.”
Since 2000, this is the fourth such analysis to measure the game’s positive impact on multiple sectors of the US economy.
Several segments of the golf industry were researched, including facility operations, tourism, real estate, supplies, tournaments, associations, charitable events and capital investment.
The 11th annual National Golf Day brought industry leaders to Capitol Hill to meet with Members of Congress, the Executive Branch and federal agencies to discuss golf’s 15,000 diverse businesses, two million jobs impacted, tax revenue creation and tourism value.