GOLF SPORTS TOURISM SECTOR EXPECTED TO GROW TO €6.1 BILLION BY 2026
According to research conducted by Market.us, the golf sports tourism market is expected to increase at a compound annual growth rate of 4.4%, bringing the valuation from €4.7 billion in 2020 to €6.1 billion in 2026.
Golf itself has been recognised as a generator of revenue, with enthusiasts willing to spend money on not just the game, but services surrounding the experience. Thus, golf has been recognised not just as a revenue generator, but also as a provider of opportunities for hospitality services like hotels and restaurants, as well as for rental vehicles and airlines.
Golf tourists apparently spend more on their trip than the average holidaymaker, leading to increased investment in golf sports tourism programmes across the globe. Repeat visitors, especially, are important for increasing community support of sports and sports events. Investment in golf tourism also reportedly improves a community with its event organisation and marketing.
According to the report, there are several drivers for the golf sports tourism market. One is the increase of income per capita around the world, which along with adjustments to work-life balance and improvements in technology, has given more people the opportunity to enjoy activities such as golf.
With airlines back in operation, travellers have more options to visit different locations to try out different golf courses and visit golf events. Research has indicated that the changing attitudes of travellers strengthens the golf sports tourism market, with travellers aiming to participate in golf independently at their own level.