Beyond its sport and recreational value, golf is at the heart of a major industry cluster that
generates jobs, commerce, economic development, and tax revenues for communities throughout
the country. The U.S. golf economy generated $76 billion of goods and services in the year
2005. This represents an average annual growth rate of 4.1 percent since 2000 (when the
estimated size of the industry was $62 billion),2 and primarily reflects growth in golf facility
revenues, real estate, and golf-related tourism. Golf industry growth over this five-year period
stayed ahead of inflation, which averaged 2.5 percent per year from 2000. In addition, SRI
estimates that golf generated a total economic impact of $195 billion in 2005, creating
approximately 2 million jobs with wage income of $61 billion.
This report describes the U.S. golf industry in the year 2005, including the revenues and
economic impact generated, and compares these estimates to the year 2000. It highlights
changes in the golf industry in the five years from 2000 to 2005, and presents the performance
of different golf industry segments.
REAd FULL REPORT: http://www.golf2020.com/reports/2005GolfEconomy%20Report.pdf
|