The Golf Tourism Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Golf Tourism Global Market Report 2024, The golf tourism market size has grown strongly in recent years. It will grow from $5.44 billion in 2023 to $5.88 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to global popularity of golf, development of golf courses, international sporting events, resort and destination marketing, cultural and recreational attractions, corporate golf events.
The golf tourism market size is expected to see strong growth in the next few years. It will grow to $8.27 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to emergence of new golf destinations, golf course renovations and upgrades, culinary and gastronomic experiences, government support and investment, specialized golf events. Major trends in the forecast period include integration of technology in golf travel planning, sustainable and eco-friendly golf tourism, customized golf tour packages, collaborations with golf celebrities, golf cruise packages.
The increasing government support for the promotion of golf tourism is expected to drive the growth of the golf tourism market going forward. The governments are promoting golf destinations to domestic and international tourists as a means of earning additional foreign exchange through the development of the niche product and thereby contributing to economic growth. For instance, in June 2021, in Scotland, a new Golf Tourism and Visitor Strategy were developed, with a focus on destination development, community engagement, education, and health as the industry attempts to recover from the challenges of the COVID-19 pandemic. Hence, the rising government initiatives to support golf tourism will drive the growth of the golf tourism market.
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The golf tourism market covered in this report is segmented –
1) By Type: Domestic, International
2) By Service Type: Personal Tours, Professional Tours
3) By Sales Channel: Direct Channel, Distribution Channel
4) By End-User Sex: Male, Female
Major companies operating in the golf tourism market are increasing their focus on developing solutions, such as the inventory management system, to gain a competitive edge in the market. An inventory management system (IMS) is a software application that helps businesses track and manage their inventory levels, orders, and sales. For instance, in April 2022, Agra Golf Course, an India-based provider of golf courses, launched a Tee-Time inventory management system to augment luxury gold tourism. The system provides the course with better data on tee time usage, allowing them to optimize scheduling and resource allocation. This can lead to reduced wait times and a more enjoyable experience for everyone.
The golf tourism market report table of contents includes:
1. Executive Summary
2. Golf Tourism Market Characteristics
3. Golf Tourism Market Trends And Strategies
4. Golf Tourism Market – Macro Economic Scenario
5. Global Golf Tourism Market Size and Growth
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26. South America Golf Tourism Market
27. Brazil Golf Tourism Market
28. Middle East Golf Tourism Market
29. Africa Golf Tourism Market
30. Golf Tourism Market Competitive Landscape And Company Profiles
Top Major Players:
- Fairway Escapes
- Goway Travel
- Golfbreaks Ltd
- Greenscape Holidays
- Par Excellence Getaways
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