Golf Tourism Market Size, Share & Trends Analysis Report By Application (Domestic, International), By Region (Asia Pacific, North America, Europe), And Segment Forecasts, 2022 - 2030

Report Overview

The global golf tourism market size was valued at USD 21.74 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 7.6% from 2022 to 2030. Golf sport has emerged as a professional, amateur, & leisure activity in recent years that involves a considerable amount of traveling. The growth of the global market is primarily driven by the rising number of international and domestic tournaments across the globe, considerable spending on the set-up of enhanced sporting infrastructure, and an enormous rise in the number of professional and amateur golf players across the globe. In addition, sports authorities and governments across the globe are arranging domestic and international golf tournaments and making heavy investments to attract golfers and boost the local economy.

For instance, in August 2022, Canadian Federal Government announced USD 4.4 million investment in Golf Canada’s two professional tournaments named the RBC Canadian Open and CP Women’s Open to promote golf participation, create important economic benefits, and attract tourists across the region. The pandemic impacted the industry and resulted in a significant decline in the number of golf travelers. The pandemic affected sports tourism and all international travel & global tourism. According to the statistics published by The World Tourism Organization (UNWTO) World Tourism Barometer, the pandemic caused an estimated loss of USD 1.3 trillion in export revenues and Asia Pacific suffered the highest level of impact due to the stringent travel restrictions.

However, golf tourism continued to regain its lost ground after the relaxation of COVID-19 restrictions in several countries in Asia and Africa. In addition, a focus on sports tourism is anticipated to provide the struggling tourism industry a much-needed boost after being battered for almost two years by COVID-19 limitations as APAC countries tentatively welcomed international visitors. To increase their visibility to sports tourists seeking comprehensive services as well as enrichment, businesses in the golf tourism sector should put a high priority on creating holistic, integrated experiences.

Rising interest in outdoor sporting events, government funding & measures to promote sports tourism, and growth in the number of young golfers are expected to make a profound impact on the global industry and offer tour operators an opportunity to enter untapped markets. The growth is also anticipated to be fueled by the growing government backing for the industry. Various governments are marketing sports vacation spots to local and foreign travelers to increase their foreign exchange earnings through the growth of the specialty market and consequently support economic expansion. Governments across the globe are now keen to exploit the industry’s true potential given the popularity and future growth possibilities of this sport.

For instance, in August 2022, in Scotland, a new Golfing Tourism Development was launched, directed by the Scottish Golf Tourism Development Group (SGTDG). With a major focus on community engagement and improving health and well-being, and developing opportunities for young people, this initiative is expected to help support and shape the future of the industry in the coming years. Such initiatives are expected to create growth opportunities for a variety of industries, including lodging, tour operators, and travel agencies. A rise in professional female golfers has emerged as one of the major trends across the globe. This trend is expected to have a significant impact on the global market and consequently drive its growth. To cater to this trend, sports companies and government authorities across the globe are launching female tours to increase the participation of women in golf.

For instance, in September 2021, Golf Saudi and Aramco Team Series introduced ladies’ European tour golfing tournaments in Jeddah. The top female golfers in the world returned to Saudi Arabia for the greatest week of competitive women’s sport in the Kingdom, including 108 players competing for back-to-back events on the Ladies European Tour. Such initiatives are further expected to boost industry growth. Increased interest in outdoor activities and sports due to health advantages would provide favorable chances for market development. Innovation in the golfing sector and technological improvements are some other aspects that enable manufacturers to produce advanced golfing products, and as a result, the sport is expected to gain immense popularity across many countries.

Application Insights

The domestic application segment captured the largest share and accounted for more than 62.5% of the total revenue in 2021. It is expected to maintain its dominance in the coming years. The pandemic continued to be a concern to the business, thus marketing campaigns and target market strategies have moved their attention largely to the phenomena of domestic travel. The segment's growth has been greatly supported by government development programs and considerable sports infrastructure expenditures, such as stadiums, sports clubs, playing fields, and the availability of athletic items for golfers. The international segment is expected to grow at the fastest CAGR over the forecast period.

Rising government initiatives and several golfers traveling abroad are boosting golfing sports activities in developing countries, which is anticipated to drive segment growth. Various governments are promoting international tours to attract new golfers. For instance, in June 2022, DP World Tour and The British Junior Golf Tour (BJGT) launched a golfing development initiative that announced the launch of the World Junior Golfing Championship. The first competition will be held from February 14–16, 2023, at the Amendoeira Golf Resort in Portugal, providing young golfers with the chance to start their session with a high-quality international tournament. Such initiatives are expected to boost international tourism, making a significant impact on the global economy.

Regional Insights

North America accounted for the largest revenue share of more than 41.75% in 2021 on account of the rising number of professional golfing tours & tournaments and the ever-grown number of international and domestic golfers visiting golf courses in the U.S. According to the International Association of Golf Tour Operators (IAGTO), the U.S. market has significant capacity for growth and is expected to develop as an attractive market for international visitors across the globe. To attract golfers from across the globe, U.S. sports authorities & associations are taking major initiatives and consider sports as a key opportunity to rejuvenate the country’s tourism industry. This is further expected to boost the regional market in the coming years.

Asia Pacific is expected to expand at the fastest CAGR over the forecast period. The growth drivers include the rising consumer demand for outdoor leisure activity, the implementation of various tourism campaigns and events to attract golfers, and the growth of the regional hospitality industry. Southeast Asia has long been regarded as a top golfing destination, drawing thousands of tourists there each year to experience the region’s top-notch courses, exotic cuisines, and deluxe accommodation options. For instance, in November 2020, the Tourism Authority of Thailand (TAT) launched ‘Season 4’ in India to offer a seamless experience to Indian golfers in Thailand. In addition, increasing awareness regarding the health benefits of various sports is expected to boost the popularity of the sport in the coming years.

Key Companies & Market Share Insights

The leading participants have launched new tours to various locations. To stand out among customers, businesses are putting an increasing amount of focus on new product launches and expanding their distribution networks. Key markets are also concentrating on different business strategies including partnerships, mergers & acquisitions, and tour launches. These actions by important players should aid them in growing their product portfolio and consumer base. Some of the prominent players in the global golf tourism market include:

• Golfasian Co., Ltd.

• Premier Golf Tours

• The Haversham and Baker Co.

• PerryGolf

• Carr Golf

• Celtic Golf

• SGH Golf

• Golfbreaks Ltd.

• Golf Tours International

• travelOsports

Golf Tourism Market Report Scope

Global Golf Tourism Market Segmentation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segment from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global golf tourism market report on the basis of application and region:

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Domestic

  • International

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • Southeast Asia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa