The National Golf Foundation (NGF) recently released its 2018 Golf Industry Report, which provides a comprehensive overview of the golf industry in the United States.
The report highlights several key trends and developments in the industry, including a decline in the number of golfers, growth in the number of golf courses, and the increasing popularity of alternative forms of golf. According to the report, the number of golfers in the U.S. decreased by 5.3 percent in 2018, from 24.7 million to 23.3 million.
The decline was primarily due to a decrease in the number of casual golfers, while the number of core golfers remained relatively stable.
The report also found that the number of golf courses in the U.S. has grown steadily over the past five years, increasing from 14,572 in 2013 to 15,372 in 2018.
This growth was primarily driven by the development of new courses, rather than the re–opening of existing courses.
Finally, the report found that alternative forms of golf, such as Topgolf, FootGolf, and disc golf, have become increasingly popular in recent years.
While these forms of the game still represent a small fraction of total golf participation, their popularity is growing, particularly among younger players.
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The golf industry is a $75 billion global industry currently in a period of growth and expansion. An estimated 25 million people play golf in the United States alone, with the sport being particularly popular among retirees.
Various factors, such as consumer demand for golf-related products and services, technological advancements, and the economy’s overall health, drives the golf industry.
As the economy strengthens and consumer confidence rises, the golf industry is expected to benefit from increased demand and spending.
Golf courses and golf–related businesses, such as golf equipment manufacturers, golf apparel companies, golf instruction businesses, and golf tournament organizers, are all part of the golf industry.
The golf industry also includes golf media outlets and technology companies that create apps and websites to help golfers track their performance and stay informed about the sport.
The golf industry is highly competitive, with many players competing for the same customers.
Companies must constantly innovate and develop new products and services to remain competitive. Companies must also focus on marketing and advertising to attract new customers and keep existing ones.
The golf industry is also affected by changes in the weather and climate, as well as the overall health of the economy.
When the economy is strong, people are more likely to buy golf–related products and services, which benefits the industry.
However, when the economy falters, golf–related sales can suffer.