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KPMG's Golf Economic Impact Study Gets Support from Industry
Nine leading golf bodies have joined forces with KPMG's specialist Golf Advisory Practice to publish a report that is set to reveal the economic value of the golf business in Europe, the Middle East and Africa.
The report, to be unveiled during the Ryder Cup Matches at Valhalla Golf Club in Louisville in mid-September, has been compiled by KPMG's Golf Advisory Practice EMA in partnership with Oxford Economics, and with the full support of key bodies from across the golf industry and the professional game. It will reveal the economic impact of the game across the European, Middle East and Africa region in terms of revenue, jobs, wages and contribution to GDP.
"This is a wide-ranging and ambitious study, the first time this kind of research has been done on this side of the Atlantic," says Andrea Sartori, head of KPMG's Golf Advisory Practice. "It comes at a time when the game is growing in the EMA region, with burgeoning growth in golf tourism and real estate, the near-global expansion of the European Tour, and big investment in emerging markets such as the Middle East and Eastern Europe."
"The study shows the importance of the golf industry as an economic force and gives us a good starting point to measure the development of the industry," says Lodewijk Klootwijk, CEO of the European Golf Course Owners Association, representing the golf bodies involved.
The study, titled "The Value of Golf to Europe, the Middle East and Africa," calculates the value of the game by combining six specified golf economic sectors: golf course operations (e.g. green fees, memberships); capital investments (e.g. new course developments); golfer supplies (e.g. equipment, clothing); golf tournaments; golf tourism; and golf real estate. It reveals key figures on all these sectors, and also compares the golf business in EMA with that in the U.S.
"I hope this report will prove an invaluable aid to investors and decision-makers across the industry," added Sartori. "It represents a unique coming-together of the golf community, and I would like to thank all the industry bodies and individuals who have participated."
The following organizations are supporting the study: Golf Environment Europe, The R&A, Club Managers Association of Europe, European Golf Course Owners Association, PGAs of Europe, the European Tour, the European Golf Industry Association, the European Institute of Golf Course Architects and FEGGA.
This story originally appeared in Asian Golf Business (http://www.asiangolfbusiness.com).