NEW
YORK, June 26, 2024 /PRNewswire/ -- The global
golf tourism market size is estimated to grow by USD 9.09 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
6.72% during the forecast period. Growing
emphasis on golf infrastructure worldwide is driving market
growth, with a trend towards advent of integrated mobile
solutions in golf clubs and other equipment.
However, increasing threat from fantasy sports poses a
challenge. Key market players include Ananta Group Pvt. Ltd., Ascot
Tours, Carr Golf and Corporate Travel Ltd., Duffers Golf Travel,
Fairway Golf Tours, GARMANY GOLF and TRAVEL LLC, Go Golfing, Golf
and Tours Pty Ltd., Golf Tourism Australia, Golf Tours
International Ltd., Golf Tours Worldwide, Grasshopper Golf Tour,
Indian Holiday Pvt. Ltd., Liberty Travel and Tours M Sdn Bhd,
Palatinate Group Ltd., Perry Travel Inc., Pioneer Golf Inc.,
Scottish Golf Holidays Inc., The Golf Travel Group., and Travel
Impresarios.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
End-user (Male and
Female), Type (Domestic and International), and Geography (North
America, APAC, Europe, South America, and Middle East and
Africa)
|
Region
Covered
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
Ananta Group Pvt. Ltd.,
Ascot Tours, Carr Golf and Corporate Travel Ltd., Duffers Golf
Travel, Fairway Golf Tours, GARMANY GOLF and TRAVEL LLC, Go
Golfing, Golf and Tours Pty Ltd., Golf Tourism Australia, Golf
Tours International Ltd., Golf Tours Worldwide, Grasshopper Golf
Tour, Indian Holiday Pvt. Ltd., Liberty Travel and Tours M Sdn Bhd,
Palatinate Group Ltd., Perry Travel Inc., Pioneer Golf Inc.,
Scottish Golf Holidays Inc., The Golf Travel Group., and Travel
Impresarios
|
Key Market Trends Fueling Growth
The golf tourism market has experienced growth in the past
decade, with approximately 26 million people in the US playing golf
occasionally. This trend is driving the need for golf clubs to
offer integrated mobile solutions, providing extensive mobile
services for upselling and cross-selling. Online booking is
increasingly popular due to customer reviews and social media
sharing. All-inclusive mobile solutions offer location-based
records, real-time food and drink ordering, and event reservations,
enhancing the golfer experience. Adopting these trends is crucial
for golf clubs to meet member needs and grow their business
prospects.
The golf tourism market is experiencing significant growth, with
many destinations focusing on improving their courses and
facilities to attract international players. The use of technology,
such as GPS and virtual tours, is becoming increasingly popular to
enhance the golfing experience. Sustainability is also a trending
topic, with many courses implementing eco-friendly practices.
Additionally, the rise of golf tour operators and travel packages
is making it easier for tourists to plan their golfing vacations.
Domestic and international demand is high, particularly in regions
like Europe, North America, and Asia. The market is expected to continue
growing, driven by the increasing popularity of golf as a sport and
the desire for unique travel experiences.
Research report provides comprehensive data on impact of trend.
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Market Challenges
- The global golf tourism market faces a challenge from the
rising popularity of fantasy golf games. With the increase in users
on platforms like DraftKings, young enthusiasts are engaging in
virtual team competitions using real-life player statistics. This
shift towards technology may lead to a decline in participation in
actual golf games. Consequently, manufacturers and retailers of
golf equipment have reported decreased sales and profits. Service
and interface providers for fantasy golf games have seen an uptick
in business due to this trend. Despite the potential growth in
virtual golf games, the threat they pose to the golf tourism
industry remains a concern during the forecast period.
- The golf tourism market faces several challenges. Domestically,
attracting new players and retaining existing ones is a concern.
International markets present opportunities but also bring
challenges such as competition from other destinations and visa
requirements. The cost of travel and accommodations can be a
barrier for some potential tourists. Additionally, the impact of
weather conditions and the need for proper maintenance of golf
courses are ongoing challenges. The use of technology, such as
online booking systems and social media marketing, can help address
some of these challenges by making it easier for tourists to plan
their trips and connect with other golf enthusiasts. Overall, the
golf tourism industry must continue to innovate and adapt to meet
the changing needs and preferences of consumers.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This golf tourism market report extensively covers market
segmentation by
- End-user
- Type
- 2.1 Domestic
- 2.2 International
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Male- The global golf tourism market
primarily caters to middle-aged male tourists who engage in golf as
a leisure activity during vacations or business trips. This sector
has experienced significant growth due to increased male interest
in golf, enhanced living standards, and government promotions of
golfing destinations. Countries like Scotland are investing in golf tourism
infrastructure, including hospitality and transportation
facilities, to attract more male golf tourists. These developments
will continue to fuel the growth of the male segment in the golf
tourism market.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The golf tourism market is a significant segment of the sport
tourism industry, attracting both domestic and international
travelers. Golf's allure lies in its unique blend of competition,
leisure, and scenic beauty. Sporting infrastructure, including golf
courses, plays a crucial role in the growth of this market. The
Canadian Federal Government and local governments, in collaboration
with tourism boards, have invested in enhancing golfing facilities
to boost golf tourism. Destinations like RBC Canadian Open and
Female golfers' events showcase the sport's popularity. Economies
of various countries, such as Canada and Saudi
Arabia, are leveraging golf tourism as a key driver of their
economies. Golf courses offer more than just a game, with
accommodation, dining, and leisure activities creating a holistic
experience for visitors. Corporate golf events and inventory
management systems further add to the market's appeal. Callaway
Golf and other equipment manufacturers cater to the demand for
high-quality golfing equipment.
Learn and explore more about Technavio's in-depth research
reports
The sports tourism market is experiencing rapid growth as
travelers increasingly seek active and adventurous vacations. This
dynamic market encompasses a range of activities, from attending
major sporting events to participating in adventure sports. Key
factors driving this trend include rising disposable incomes, the
global popularity of sports, and improved accessibility to
international destinations. With the increasing number of sports
enthusiasts, tourism agencies are tailoring packages to meet
diverse preferences. As a result, the sports tourism market is
becoming a significant contributor to the global tourism industry,
offering unique and memorable experiences for travelers around the
world.
Market Research Overview
The Golf Tourism Market encompasses various locations worldwide
that offer unique golfing experiences. These destinations provide
high-quality courses, often designed by renowned architects,
ensuring challenging and enjoyable games for golf enthusiasts. The
industry caters to both domestic and international tourists,
offering various packages and services, including accommodations,
transportation, and golf equipment rentals. Golf tourism
contributes significantly to the economies of host countries,
generating employment opportunities and promoting cultural
exchange. Additionally, golf tourism events, such as tournaments
and championships, attract large crowds and boost local businesses.
Overall, golf tourism is a thriving sector that offers
unforgettable experiences and contributes to economic growth.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Type
-
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
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Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio