Just like in every year we summarize the achievement of the US golf industry on the National Golf Day. I have just checked what I wrote about the status of the US golf industry last year. In that post in 2015, I wrote that golf has nearly $70 billion economic impact. So we can say the industry is stagnating despite the positive changes you will find below.
NGF even reported declining memberships, decreased utilization and even club closures in the private golf club sector. This can be explained by several changes in the US society:
- Aging Baby Boomers,
- Changes in family composition,
- Growing Hispanic and other minority groups,
- Single mother households are growing fast,
- Declining birth rates,
- Economic factors,
- New career paths etc.
Not an incidental fact is golf’s the nearly $4 billion charitable impact through 143,000 philanthropic events per year.
Check out other KPIs of the golf industry in this infographics: