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golf important to u. s. economy golf travel and products worth $62 Billion
U.S. Golf Economy Measures $62
Billion, Says New Report By SRI International for the World Golf
Foundation's Golf 20/20 Initiative.
The golf economy is more than significant and accounted for more than $62 billion worth of goods and services in the year 2000, according to independent research institute SRI International’s Peter Ryan as he presented a report today on the “golf economy” at the GOLF 20/20 annual conference in St. Augustine, FL. The World Golf Foundation, sponsor of the GOLF 20/20 initiative to grow the sport, sponsored this first-ever estimate of the overall scope of the golf economy to provide a framework for monitoring the long-term growth of the industry. Over the past 15 years the golf industry has grown substantially, far outpacing inflation, and is expanding in a manner consistent with the most optimistic projections made by the National Golf Foundation in the late 1980s. |
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When compared to sales in other industries, the golf industry, at $62 billion, fares well. For example, the motion picture and sound recording industry measured approximately $57.8 billion in 2000, and the amusement, gambling, and the recreation industry measured about $55.9 billion, according to government census data. “This report clearly indicates the golf industry’s importance to the U.S. economy,” said Ruffin Beckwith, World Golf Foundation’s senior vice president. “It also serves as a measure of the progress of the industry’s efforts to grow interest in the game and to meet our target of having 55 million participants by the year 2020.” |
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