The global golf tourism market size was valued at USD 31.17 billion in 2021 and is poised to grow at a significant CAGR of 12.1% during the forecast period 2022-28. Golf is a club-and-ball sport in which players use a variety of clubs to smash balls into a succession of holes on a course in the fewest number of strokes possible. Golf does not have a uniform playing area, thus navigating the various terrains seen on various courses is an important component of the game. The game is usually played on a course with an 18-hole ordered sequence, though leisure courses are sometimes smaller, with nine holes. The rapidly expanding golf markets in Asia, the Middle East, as well as Mexico will help the golf industry thrive globally. The bulk of golf tourism customers are men, with the majority being middle-aged and retired.
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The market is predicted to rise as demand for business travel increases, allowing golf to be pursued as a side pastime. Furthermore, the industry has been fueled by expanding government efforts aimed at the creation of major golf courses, tournaments, and seminars around the world. Furthermore, the growing popularity of golf amongst youth population, combined with increased disposable money, is a major driver of market expansion. Furthermore, an increase in the number of international grade golf courses, increased youth enthusiasm, and an increase in the number of foreign visitors would all help to drive up demand for golf tourism. This, in turn, is propelling the market forward. Golf's increased inclusion in international events namely the Olympics, as well as the growing number of tournaments, have encouraged people to join in the sport, fueling industry growth. Government assistance for developing a comprehensive and integrated framework to boost golf tourist industry in their respective nations is expected to drive market expansion. Increasing use of new technologies for making travel plans, as well as a variety of market collaborations that provide low-cost packages and promote golf tourism. This, in turn, is fueling market expansion. Growing busy schedules among young consumers lead to an increase in the number of indoor games, stifling industry growth.
The global golf tourism market segmentation:
1) By Type: Golf scenery tour, Golf hunting, Golf business tour and Others.
2) By Application: Domestic and International.
North America had the highest market share in 2020 and is expected to continue to grow at a stable CAGR in the years ahead. High living standards, rising popularity of golf as a leisure sport among the wealthy, and a large number of golf-playing areas are all contributing factors. Around 25.5 million golfers in the United States and 5.5 million in Canada make up the world's 55 million golfers, giving the region a strong hold on the golf tourism business.
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There are several industry players working in the Golf Tourism Market, which include Premier Golf, Direct Golf Holidays, PerryGolf, Your Golf Travel, SGH Golf, Carr Golf
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