PUBLISHER: SkyQuest | PRODUCT CODE: 1673730
PUBLISHER: SkyQuest | PRODUCT CODE: 1673730
Golf Tourism Market size was valued at USD 25.1 billion in 2023 and is poised to grow from USD 27.41 billion in 2024 to USD 55.42 billion by 2032, growing at a CAGR of 9.2% during the forecast period (2025-2032).
The golf industry has seen a significant surge in popularity for both competitive and recreational play, promoting a notable increase in travel for tournaments and events. Key drivers behind this growth include a rise in international and domestic competitions, heightened investment in sports infrastructure, and an increasing number of both amateur and professional players globally. Governments, recognizing golf's potential to boost local economies, have stepped up funding-illustrated by Canada's recent USD 4.4 million investment in professional tournaments. Additionally, initiatives like Scotland's Golfing Tourism Development are focused on community engagement and youth opportunities, further encouraging economic expansion. The market is also witnessing a rise in female participation, prompting the launch of dedicated tours. Overall, the US Golf Tourism Market is projected to sustain a healthy CAGR moving forward.
Top-down and bottom-up approaches were used to estimate and validate the size of the Golf Tourism market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Golf Tourism Market Segments Analysis
Global Golf Tourism Market is segmented by Booking Method, Demographic, Nationality, Group Type and region. Based on Booking Method, the market is segmented into Travel Agent and Online Direct. Based on Demographic, the market is segmented into Male and Female. Based on Nationality, the market is segmented into Domestic and International. Based on Group Type, the market is segmented into Corporate, Family, Couples, Youth Groups and Single Tourist. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Golf Tourism Market
A key factor contributing to the growth of the global golf tourism market is the rising interest in golf among middle-class consumers in emerging economies. As disposable incomes increase in nations such as China, Japan, and South Korea, a growing number of individuals are adopting golf as a popular leisure pursuit. This trend has led to heightened demand for various golf-related products and services, alongside the ongoing development of new golf courses and necessary infrastructure. Consequently, the golf industry is witnessing remarkable expansion, presenting numerous opportunities for businesses to penetrate new markets and scale their operations effectively.
Restraints in the Golf Tourism Market
A significant constraint within the golf tourism market is the substantial expense associated with equipment and course fees, which can deter potential participants and restrict overall accessibility. Moreover, the golf sector is experiencing competition from various alternative leisure activities and sports that may attract a broader demographic. Environmental issues also pose a challenge; concerns regarding water consumption and the use of chemicals for course upkeep have resulted in heightened regulations and public scrutiny. Effectively addressing these obstacles is essential for the continued growth and success of the golf tourism industry.
Market Trends of the Golf Tourism Market
The global golf tourism market is witnessing a notable trend towards sustainability and environmental responsibility, as stakeholders increasingly prioritize eco-conscious practices. Golf courses are undergoing transformations to reduce their ecological impact, incorporating recycled materials into equipment, adopting energy-efficient maintenance protocols, and actively working to preserve natural habitats. This commitment to sustainability resonates with a growing demographic of environmentally aware consumers, who look for green travel options. Moreover, interest in innovative, eco-friendly golfing alternatives like footgolf and disc golf is rising, appealing to new audiences and diversifying leisure offerings in the golf tourism sector, thereby shaping its future trajectory.