Golf Tourism Global Market Report 2023

“Golf Tourism Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on golf tourism market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
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• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for 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.

Scope

Markets Covered:

1) By Type: Domestic; International

2) By Service Type: Personal Tours; Professional Tours

3) By Sales Channel: Direct Channel; Distribution Channel

4) By End-User Sex: Male; Female

Companies Mentioned: Golf Tours International; GHW Golf Tours; Golfasian Co. Ltd; Golfbreaks Ltd; Perry Travel Inc

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery Format: PDF, Word and Excel Data Dashboard.

Executive Summary

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 grew from $4.93 billion in 2022 to $4.76 billion in 2023 at a compound annual growth rate (CAGR) of -3.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The golf tourism market is expected to grow to $6.07 billion in 2027 at a CAGR of 6.3%.

The golf tourism market includes revenues earned by entities by providing services such as leisure tourism, tournament tourism, and business tourism. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Golf tourism refers 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.

North America was the largest region in the golf tourism market in 2022. 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 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.

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 May 2021, golfscape group, a provider of the online marketplace which offers booking capabilities to golfers and golf tourists partnered with Golfmanager, a leading European golf technology provider. As part of this agreement, Golfmanager's client courses will be featured Golfscape's marketplace, which reaches over half a million users and books over 1 million rounds each year. In addition, the partners will collaborate to enhance the efficiency of the golf course management industry by providing a full solution for golf courses and an injection of sales through a next-generation booking process.

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.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The golf tourism market research report is one of a series of new reports from The Business Research Company that provides golf tourism market statistics, including golf tourism industry global market size, regional shares, competitors with a golf tourism market share, detailed golf tourism market segments, market trends and opportunities, and any further data you may need to thrive in the golf tourism industry. This golf tourism market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.