Golf courses are a popular pastime for many people, and they can also be a great source of revenue for businesses. In this blog post, we’ll be taking a look at some of the latest golf course revenue statistics to get an idea of how profitable golf courses can be.
We’ll also explore some of the factors that can affect golf course revenue, as well as some tips for increasing your golf course’s revenue. So, if you’re interested in learning more about golf course revenue, then read on.
Golf Course Revenue: The Most Important Statistics
The golf course and club market in the US earned slightly more than $25,000 million in 2020, with 883,500 golfers in England and 180 golf equipment stores in Canada.
Golf is using social media and media coverage to reach more people, especially millennials, as 60% of them are active Instagram users.
Golf Course Revenue: Statistics Overview
Golf courses and country clubs in the United States are expected to generate around $24.7 billion in revenue by 2024.
This shows the growth of the industry over the past few years and provides an estimate of the expected revenue for the industry in the future. This information can be used to inform business decisions and investments in the golf course and country club industry.
Golf equipment manufacturer Acushnet had global sales of 2.1 billion US dollars in 2021, while Callaway Golf Company had net sales of 3.1 billion US dollars, making them the front-runner.
Golf is a costly hobby and the import and export of clubs and golf equipment is a significant industry, with 440 million US dollars in golf clubs imported into the United States in 2020.
The golf course and club market in the US earned slightly more than $25,000 million in 2020, with 883,500 golfers in England and 180 golf equipment stores in Canada.
This shows the growth of the golf industry, with an increase in the number of rounds played in the summer and fall, and a predicted increase in all market segments of golf equipment.
The mini-golf industry is waning, but single-rider golf carts have become popular, and the golf course and club market in the US earned a significant amount of money in 2020. This indicates that the golf industry is doing well and is likely to continue to grow in the future.
In 2021, 8% of the US population played golf on a golf course, with 12.4 million people participating in off-course golf activities and 3.2 million Americans playing golf for the first time.
The golf course industry is growing, with 25% of female golfers being new to the sport and 27% of new golfers being between the ages of 18 and 34 (Gen Z).
The golf industry has seen an increase of more than 2 million newcomers for nine years in a row, with the last three years exceeding 3 million, and a 12% increase year on year in 2022.
The industry is growing, with more people becoming interested in the game. This could lead to increased revenue for golf courses as more people are likely to play, watch, or read about the game.
Additionally, it could also lead to increased revenue from merchandise sales, as more people become familiar with the game.
Golf is using social media and media coverage to reach more people, especially millennials, as 60% of them are active Instagram users.
Golf is actively trying to increase its reach and engagement, which could lead to an increase in revenue.
The country club and golf course market in the US is valued at $25.8 billion and is expected to rise 1.5% in 2021. 65% of clubs are investing in fitness and wellness amenities, and 57.5% have a fitness facility with an average of 2,925 square feet of usable space.
The golf business is expected to grow in 2021, and that the market is investing in fitness and wellness amenities, which could lead to increased revenue.
The Golf Courses & Country Clubs market size in the United States has fluctuated over the last three years due to changes in supply, demand, and cost of goods/services sold.
This information is important for investors, banks, and company leaders to understand the market outlook and opportunity in order to make informed decisions about their investments and operations.
Conclusion
In conclusion, golf course revenue statistics provide a valuable insight into the overall health of the golf industry. Golf courses have seen a steady decline in revenue over the past few years, but there are still opportunities for growth.
With the right strategies in place, golf courses can increase their revenue and remain competitive in the industry. By understanding the current trends and making informed decisions, golf courses can maximize their revenue and ensure a successful future.
References
1 – https://www.statista.com/forecasts/311218/golf-courses-and-country-clubs-revenue-in-the-us
2 – https://www.statista.com/statistics/273923/golf-equipment-companies-by-revenue/
3 – https://playtoday.co/blog/golf-industry-statistics/
4 – https://www.zippia.com/advice/golf-industry-statistics/
5 – https://www.ngf.org/golf-industry-research/
6 – https://linchpinseo.com/trends-in-the-golf-industry/
7 – https://www.plateiq.com/blog/2022-country-club-and-golf-industry-report-statistics-trends/
8 – https://www.anythingresearch.com/industry/Golf-Courses-Country-Clubs.htm
