(ST. AUGUSTINE, Fla.) – WE ARE GOLF – a coalition of the game’s leading associations and industry partners – unveiled its new U.S. Golf Economy Report at the National Press Club in Washington, D.C. prior to tomorrow’s 11th annual National Golf Day.
Highlighting the study – conducted by TEConomy Partners – is $84.1 billion in activity directly driven by golf in 2016, a 22% rise from $68.8B in the 2011 report. The industry supported $191.9B in total annual activity, including 1.89 million jobs and $58.7B in wages and benefits.
Golf’s annual contributions to America’s economy also include:
– $34.4B in revenue from golf courses, clubs, resorts, driving ranges and other facilities (2.9% compound annual growth rate since 2011)
– $25.7B in tourism spending (4.6% CAGR)
– $7.2B in new home construction in golf communities (18.5% CAGR)
– $6B in sales of golf equipment, apparel and supplies (1.4% CAGR)
– $2.4B in professional tournaments, associations and player endorsements (3.16% CAGR)
– $1.9B in investment in existing golf facilities (4.6% CAGR)
Demonstrating golfers’ and businesses’ commitments to charity, $3.94B was raised in 2016 through tournaments and other activities.
“The many positive trends show how golf is vital to the prosperity of America’s economic and social well-being,” says Steve Mona, CEO of the World Golf Foundation and administrator of WE ARE GOLF. “Increases in so many categories signify the health of golf has far-reaching influence across many sectors of the U.S. economy.”
The fourth report since 2000 to measure the game’s effect, research encompassed golf course operations, tourism, real estate, supplies, tournaments, associations, charitable events, capital investment and other commercial segments.
The report was announced in conjunction with National Golf Day, the industry’s pinnacle event of the year that brings leaders to Capitol Hill to meet with Members of Congress, the Executive Branch and federal agencies to discuss golf’s social, economic and environmental benefits to society.
To join the conversation, visit the WE ARE GOLF social media hub. Use #NationalGolfDay and @wearegolf on Facebook, Twitter and Instagram to support the industry and answer “why is golf more than a game to you?”
Find the full article here.
About WE ARE GOLF
Created in 2010, WE ARE GOLF is an industry coalition that promotes the economic, charitable and environmental impact of golf, as well as the game’s health and wellness, affordability and accessibility, to Members of Congress, the Executive Branch and regulatory agencies. The goal of WE ARE GOLF is to ensure laws and regulations are fair and appropriate to an industry that in 2016 generated $84.1 billion in economic impact, 1.89 million jobs and $3.94 in charity fundraising.
More information: www.wearegolf.org.