A new study has shown that golf is making an increasingly significant contribution to the US economy, with the most recent figures showing the sport generated $195 billion towards America’s economy in 2005. The report shows golf to be the most lucrative spectator sport for the American economy in terms of its facility revenues. In the study carried out by SRI International, it is estimated that $76 billion is directly generated, whilst roughly 2 million jobs are created by the sport with a total wage income in excess of $60 million.
The 2005 Golf Economy Report had been commissioned by the World Golf Foundation’s GOLF 20/20 initiative. The report also shows golf to be in a healthy state, with the 4.1 per cent annual growth between 2000 and 2005 expected to continue at a similar rate for the foreseeable future. The growth in those five years can be largely attributed to a surge in golf related tourism, whilst an increase in golf facility revenues has also contributed.
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Golf Making Significant Contribution to US Economy Thu, 24 Jan 2008 Recommended linksGreat Deals on New Golf ClubsLeading Golf Courses In Need of a Golfing Holiday? Top Sportswear Outlets Take Part in Golf Tournaments Case Named as Next President of English Golf Union Trio Named on Asian Royal Trophy Golf Team
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