Jan 18, 2008

Golf Is Big Business

According to the 2005 Golf Economy Report that was released at the 2008 PGA Merchandise Show golf is huge business. (A Little late with the report) It goes on to give these numbers:

Golf’s impact on the U.S. economy is valued at US$75.9-billion, the report says, although that takes into account not just spending on golf clubs and public-course rounds but also US$3.5-billion spent on golf-related charitable giving (think charity-golf tournaments) and nearly US$15-billion spent on houses built near golf courses.

Is this stretching the meaning of golf to include real estate, even if it is, these are still big numbers. Here are some stats for other industries as well:

$75.9 Golf
$73.9 Motion pictures and videos
$64.7 Spectator sports
$50.1 Newspapers

And here is the breakdown of items that make up golf’s US$75.9-billion impact.

$28.052 Golf course operation
$18,001 Hospitality and tourism
$14,973 Real estate
$6,151 Golf equipment and supplies
$3,578 Golf course capital investment
$3,501 Charities
$1,682 Endorsements, tournaments and associations

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