Tag Archive | "golf industry"

Golf Trips are On

As the global economic situation bounces back from its downturn several years ago, golf tourism also makes its upswing in the different golf destinations worldwide with Spain and Portugal garnering the highest popularity. Statistics report that 60% of the 90 golf tour operators from 35 countries have experienced booking increases for 2011 from 2010’s 38%. LateRooms.com, an internet based company specializing in hotel room reservations also marked a 46% increase in their featured golf hotels.

The increase may be associated with the lower costs offered by the golf courses to aid golfers during the economic downturn. Some courses even had their membership fees cut significantly and offered lower costs for equipment. Golf also became more widely accepted in countries with budding economies like Brazil, India, Russia and China. Many countries also have invested in new golf courses and infrastructures like Turkey, Vietnam, Thailand, Italy and Dominican Republic. These destinations make golf even more popular attracting more and more tourists from all over the world.

Golf tour operators also have become strategic in their packages offering course fees combined with hotel accommodations and spa treatments. Golf travel packages are also incorporated at corporate event programs as part of the executive traveler’s itinerary. All these programs make golf more affordable which is just great for both professional and aspiring golfers.

The head of ATP Select, Gareth Hunt, said, “Golf has become more accessible on the international stage and is less stuffy and elitist. It’s not just die-hard golfing enthusiasts, but also the casual or inexperienced golfer who are keen to participate.”

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Golf Emerges from the Deep Rough

Golf IndustryGolf is seeing an economic resurgence these days, after the downfall brought about by the recession in the United States. The country’s general economic recovery is resulting in the comeback of golf’s consumer market, which amounts to $25 billion.

This statement is not based on plain opinion. Economic figures prove that the golf industry has emerged from its slump. For the past four months, the number of rounds played on different American golf courses has increased. Prior to that, the number had been declining due to the economic recession.

Companies that make and sell golf clubs, mowers, and golf gear have reported increases in profits and stock gains. They have even outpaced Standard and Poor’s 500 Index.

The National Golf Foundation reported that around $4 billion is spent by consumers annually for golf equipment alone, plus another $1 billion for golf gear and clothes. Twenty billion dollars is spent on golf course maintenance.

Stock values for this year are also up by 25%. This figure is more than double that of S&P’s 500 performance.

The conclusion is that Americans are more confident about spending money nowadays. They are more secure in their jobs and they have an increased budget for leisure. Golfers seem to believe that things are not getting any worse when it comes to the economy.

“We were bouncing along the bottom and expect we’ll see a modest recovery in 2012. The signs since the beginning of the year have been positive.” said Greg Nathan, senior vice president of the National Golf Foundation.

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