The global golf tourism market was valued at USD 61.2 billion in 2021 and is projected to witness robust growth over the forecast period. The market is being driven by the increasing popularity of golf as a leisure activity as well as the growing number of golf courses. Moreover, the increasing popularity of golf tourism packages offered by travel companies is also boosting the market growth. The growing disposable income of the middle-class population and the increasing popularity of golf courses in countries such as China and India are also expected to drive the market.

Furthermore, the introduction of innovative products and services such as golf-centric tours, golf-hotel packages, and golf-themed cruises is expected to augment the golf tourism market in the coming years. Additionally, the growing acceptance of golf as a leisure activity among the younger population is driving the demand for golf tourism products. Furthermore, the development of golf courses and golf tourism destinations in emerging countries is expected to create lucrative opportunities for the golf tourism market.

The adoption of digital platforms and payment systems is also expected to drive the market growth. Digital platforms such as social media, mobile apps, and websites provide customers with the convenience to book golf tours and packages. Additionally, the increasing adoption of cashless payment systems such as debit cards, credit cards, and mobile wallets is expected to drive the market. Furthermore, the rising number of golf academies and coaches across the world is expected to help the market grow in the coming years.

The growing demand for VIP and luxury golf packages is also expected to drive the golf tourism market. These packages offer exclusive services such as luxury villa stay, private jets, and helicopter transfers. The increasing focus on sustainability is also expected to drive the market. Many golf courses are introducing measures such as water conservation, waste management, and energy conservation. Furthermore, the growing demand for destination management services is expected to create lucrative opportunities for the golf tourism market.

The golf courses segment held the largest market share in 2020 and is expected to dominate the market during the forecast period owing to increasing golf tourism. The construction of new golf courses, scenic locations, and promotion of golf tourism by the government are some of the factors that are driving the growth of the golf courses segment. According to a report by the World Travel & Tourism Council, in 2019, golf tourism accounted for 9.2% of total international tourism receipts.

The training and practice segment is expected to witness the fastest growth during the forecast period due to the increasing popularity of golf training and practice centers. Factors such as increasing disposable income, rising awareness regarding golf, and increasing demand for golf training centers are driving the segment’s growth. In addition, technological advancements such as the introduction of golf simulators and digital devices are also driving the growth of the segment.

The airports and railway stations segment held a significant share of the market in 2022. Airport and railway stations are considered convenient places for tourists and golfers to purchase golf tourism products. The segment has witnessed a surge in its share due to the increase in international travelers and golfers visiting airports and railway stations to purchase golf tourism products. Golf tourism products are easily accessible at airports and railway stations due to the presence of physical stores and the availability of online stores. Moreover, the increasing number of online stores providing golf tourism products at airports and railway stations has been a major factor driving the growth of this segment.

The online segment is anticipated to expand at the highest CAGR of 10.4% over the forecast period. The increasing penetration of the internet and the rising number of online stores providing golf tourism products have been fuelling the growth of the segment. Moreover, the convenience provided by online stores in terms of product availability and attractive discounts offered by e-commerce players have been driving the demand for golf tourism products from online stores.

The golf travel segment accounted for the largest revenue share of 37.9% in the year 2022. The rising trend of golf tourism is mainly attributed to the fact that it offers a safe and enjoyable experience. The booming golf tourism industry has benefitted from the growing number of golf courses in the region. For instance, in April 2021, the opening of the new golf course, La Paz Golf Course in Baja California Sur, in Mexico, increased the number of golf courses in the region. Moreover, the increasing focus on improving golf infrastructure and facilities is expected to drive the growth of the segment.

The golf equipment segment is expected to register the highest CAGR of 8.4% during the forecast period. The growing popularity of golf is leading to an increase in demand for golf equipment. The rising golf participation among a younger audience and the increasing number of golf events, such as the PGA Tour, are also driving the demand for golf equipment. In addition, the introduction of new products, such as golf clubs and golf balls, with advanced features is expected to further boost the market growth during the forecast period.

Europe accounted for the largest market share in 2021, owing to the presence of a large number of golf courses and increasing trend of golf tourism in the region. The UK, France, and Spain are some of the major countries in the region with a high number of golf courses. Furthermore, increasing golf tournaments in the region are expected to drive the growth of the golf tourism market in Europe during the forecast period.

North America is expected to witness the fastest growth during the forecast period. The US and Canada are leading countries in the region and are focusing on the development of golf courses to attract domestic and international golf tourists. For instance, in April 2021, the US Golf Association announced the development of a new golf course in California, which is expected to increase the number of visitors in the region.

In this part of the golf tourism products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your golf tourism products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main sources of revenues for a golf tourism products business come from the sale of golf packages, green fees, golf lessons, golf equipment, and merchandise. Other possible sources of profit include golf-related events and activities, food and beverage, and corporate sponsorships.

Projecting Expenses
In this section, all the regular expenses related to keeping the golf tourism products business running will be described. The list of operating expenses includes Golf SA affiliation, wages, marketing and advertising, maintenance and repairs, insurance policies, utilities, and others.

Some of the key companies operating in the golf tourism market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In May 2022, the PGA Tour launched its golf travel program, offering exclusive golf packages to destinations around the world.

– In June 2022, the British Golf Travel Company launched a series of golfing holiday packages to Spain, Portugal, and the US.

– In September 2022, the European Tour launched a new initiative to promote golf tourism in Europe, offering packages to golfers from all over the world.

Some of the prominent players in the golf tourism market include:

– PGA Tour
– The British Golf Travel Company
– European Tour
– Golfbreaks
– Golf Vacation Group
– Golfasian
– Golftripz
– Golf Vacation Experts
– Golfpac Travel
– Golf Holidays Direct

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global golf tourism products market based on product type, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Golf Course Equipment
– Apparel
– Accessories
– Other Products

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Direct
– Indirect

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What Factors are Driving the Growth of Golf Tourism?
[A]: Factors such as the increasing popularity of golf, the rising trend of luxury golf holidays, and the growing need for leisure activities are some of the key factors driving the golf tourism market. Additionally, the availability of golf courses and vacation packages at attractive prices are further contributing to the growth of the market.

[Q]: What are the Key Developments in the Golf Tourism Market?
[A]: Key developments in the golf tourism market include the expansion of existing golf courses, the emergence of luxury golf resorts and courses, and the availability of golf tourism packages. Additionally, the increasing demand for golf in emerging countries such as India, China, and Brazil are expected to offer lucrative opportunities for the growth of the golf tourism market.

[Q]: Who are the Key Players in the Golf Tourism Market?
[A]: Key players in the golf tourism market include Marriott International, Inc., Hilton Worldwide Holdings Inc., The Walt Disney Company, Hyatt Hotels Corporation, Preferred Hotels & Resorts, and Club Med.

[Q]: What Region Offers the Largest Opportunity for Sales of Golf Tourism Products?
[A]: Europe is expected to offer the largest opportunity for the golf tourism market due to the increasing demand for golfing activities as well as a strong presence of numerous golf courses in the region.

[Q]: What are the Challenges Faced by the Golf Tourism Market?
[A]: Challenges faced by the golf tourism market include high costs associated with the maintenance of golf courses, increased competition from other leisure activities, and the lack of access to golf courses in certain countries.