Market Research Report
Golf Tourism Global Market Report 2022
|Golf Tourism Global Market Report 2022|
The Business Research Company
Content info: 175 Pages
Delivery time: 2-10 business days
“Golf Tourism Global Market Report 2022” from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global golf tourism market.
This report focuses on golf tourism market which is experiencing strong growth. The report gives a guide to the golf tourism market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
Where is the largest and fastest growing market for the golf tourism? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The Golf Tourism market global report” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider golf tourism market, and compares it with other markets.
Major players in the golf tourism market are: Golf Tours International, GHW Golf Tours, Golfasian Co. Ltd, Golfbreaks Ltd, Perry Travel Inc, Premier Golf Tours, Scottish Golf Holidays Inc, The Haversham and Baker Co, GolfHolidays.com, Direct Golf Holidays, Celtic Golf, Kalos Golf, Sophisticated Golfer, Carr Golf, SouthAmerica.travel, Ascot Golf Tours, Caribbean Golf & Tours, Classic Golf Tours, Golf Plaisir, EasyGolf Worldwide Australia, Asian Tour, Chaka Travel, and Goway Travel.
The global golf tourism market is expected to grow from $4.44 billion in 2021 to $4.8 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The golf tourism market is expected to grow to $5.8 billion in 2026 at a CAGR of 4.8%.
The golf tourism market consists of sales of golf tourism by entities (organizations, sole traders, and partnerships) that refer to the trips undertaken by people to play golf. Golf is a sport in which players use a club to hit a small ball into a series of cups set out on a course. Golf tourism is a part of sport tourism, which is one of the tourism industry's fastest-growing segments. Golf tourism refers to domestic or international trips taken by people who play golf at least once while traveling to any destination.
The main types of golf tourism are domestic and international. International tourism is defined as the act of traveling to a country other than the tourist's home country for leisure or business for no more than one year. The various services include personal tours and professional tours that are sold by direct channel and distribution channels. The golf tourism services are availed by males and females.
North America was the largest region in the golf tourism market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in golf tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The increasing government support for the promotion of golf tourism is expected to drive the growth of the golf tourism market going forward. The governments are promoting golf destinations to domestic and international tourists as a means of earning additional foreign exchange through the development of the niche product and thereby contributing to economic growth. For instance, in June 2021, in Scotland, a new Golf Tourism and Visitor Strategy were developed, with a focus on destination development, community engagement, education, and health as the industry attempts to recover from the challenges of the COVID-19 pandemic. Hence, the rising government initiatives to support golf tourism will drive the growth of the market.
Strategic collaborations and partnerships have emerged as a key trend gaining popularity in the golf tourism market. Major companies operating in the golf tourism sector are focused on strategic collaborations and partnerships to reinforce their position. For instance, in October 2021, Goway, a UK-based golf tourism provider, partnered with Signature Travel Network to expand its reach in the US and strengthen its ability to provide vacations for travelers around the globe. Signature Travel Network is a US-based travel network company. Moreover, in October 2019, Scottish Golf, the national governing body for the sport of golf in Scotland, partnered with Golf Holidays Direct enabling golfers across Scotland to get the best deal on golfing getaways. Golf Holidays Direct is a UK-based golf traveler organizing golf holidays across the globe.
In March 2021, Callaway Golf, a US-based equipment manufacturing company that designs, manufactures, markets, and sells golf equipment, acquired Topgolf for $2.6 billion. Through this acquisition, Callaway aimed to accelerate its growth, create competitive advantages and establish leadership in the global golf equipment market by combining Topgolf's revolutionary technology platform and access to golfers of all abilities to its business. Topgolf is a UK-based sport entertainment firm.
The countries covered in the golf tourism market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.