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Golf Good for American Economy
GOLF 20/20 - the collaboration of leading organizations representing all segments of the United States golf industry - reports golf's economic impact of $68.8 billion in 2011.
In a study conducted by SRI International, findings are based on several core segments (golf facility operations, golf course capital investment, golfer supplies, tournaments and associations, and charities) and enabled categories (real estate, hospitality and tourism).
When indirect and induced economic activity driven by the golf sector is taken into consideration, a total impact of $176.8 billion was generated.
Highlights of the study include:
1.98 million jobs
$55.6 billion wage income
25.7 million golf participants
15,751 traditional golf facilities
In November 2012, GOLF 20/20 announced the game's charitable impact of $3.9 billion. Golf as a fundraising vehicle includes an estimated 12,000 golf facilities, 143,000 events and 12 million participants, while raising an average of $26,300 per function.
"The economy has endured two significant recessions the past decade and golf has fared well," says Steve Mona, CEO of the World Golf Foundation, administrator of GOLF 20/20. "The health and growth of the game has a direct bearing on jobs, commerce, economic development and tax revenues for U.S. communities and industries."
Golf's core industries alone exceed the economic impact of spectator sports, the performing arts, and the amusement and recreation industries.
For more information about the economic study and GOLF 20/20, visit www.golf2020.com.