Golf Tourism Market Size Expected to Reach USD 39.06 Billion by 2029 – Latest Forecast | NEWSCAST
The global golf tourism market was valued at approximately USD 21.74 billion in 2021 and is projected to grow at a healthy growth rate of over 7.6% during the forecast period 2022-2029.
market Overview
Golf tourism is travel for golf enthusiasts, generally those who view golf as a secondary exercise. Rising disposable income, development of golf infrastructure, and increasing number of international and domestic tournaments are the key drivers for the growth of the global market.
Increased investment by various sporting authorities and governments in domestic and international golf tournaments is acting as a catalyst for market growth. For example, in August 2022, the Canadian federal government named the CP Ladies Open and the RBC Canadian Open to encourage people to participate in golf, attract many tourists, and bring significant economic benefits to the region, and announced that a total of $4.4 Earned $1 million in two professional tournaments in Canadian Golf. Likewise, in November 2020, the Tourism Authority of Thailand announced the launch of “Season 4” in India, which aims to provide a seamless experience for Indian golfers across Thailand. Hence, the aforementioned factors play a significant role in golf tourism, contributing to the growth of the market. Moreover, growing awareness among young people about the health benefits of physical activity and increasing government funding and promotion of sports tourism are also expected to bring various lucrative opportunities this year. However, high costs associated with golf tourism are challenging the market growth during the forecast period 2022-2029.
Coverage by region.
The major regions studied for the Global Golf Tourism Market are Asia Pacific, North America, Europe, Latin America and Rest of the World. North America dominated the market in terms of revenue owing to growing inclination towards outdoor recreational activities and rise in professional golf tours and tournaments. On the other hand, Asia Pacific is expected to witness the highest CAGR during the forecast period due to factors such as the growing hospitality industry in the region and the presence of vast infrastructure related to golf clubs in countries within the market space. It is expected to grow at a certain rate.
competition analysis.
Key market players included in this report include:
golfson gmbh
top golf
haversham and beck expedition
Perry Golf
car golf
celtic golf
SGH Golf Ltd.
golf break
International Golf Tours
tourism movement
The latest market developments:
In November 2020, the PGA Tour, the operator of the PGA Tour, announced the acquisition of a minority stake in the European Tour Media Company to strengthen its influence in the global men’s professional golf field.
In October 2020, Top Golf International announced a merger agreement with Callaway Golf.
Research purposes
The objective of this study is to determine the market size of various segments and countries in recent years and to project its value in the coming years. The report aims to include both qualitative and quantitative aspects of the industries of the countries surveyed.
It also provides detailed information on key aspects such as drivers and challenges that will determine the future growth of the market. Furthermore, it incorporates potential opportunities of the micro market for stakeholder investments along with in-depth analysis of the competitive landscape and product offerings of the key players.
report scope
By use: (domestic, overseas)
by region
North America (US, Canada, Mexico)
Europe (UK, Germany, France, Italy, Spain, Poland, Russia, Netherlands, Belgium, Turkey, Nordic Countries, Rest of Europe)
Asia Pacific (China, India, Japan, Korea, Australia, New Zealand, ASEAN countries, Rest of Asia Pacific)
Middle East/Africa (UAE, Saudi Arabia, South Africa, Israel, Kuwait, Qatar, Oman, MEA countries, others)
South America (Argentina, Brazil, Rest of South America)
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