[Latest] Global Golf Tourism Market Size/Share Worth USD

Austin, TX, USA, March 26, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Golf Tourism Market Size, Trends and Insights By Destination Type (Golf Resorts, Urban Golf Courses, Scenic/Leisure Golf Retreats), By Golfer Type (Leisure Golfers, Professional Golfers, Corporate/Business Golfers), By Golfing Package (All-Inclusive Golf Vacations, Weekend Golf Getaways, Customized Golf Tour Packages), By Facility Type (Championship Golf Courses, Resort-Based Golf Facilities, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.

“According to the latest research study, the demand of global Golf Tourism Market size & share was valued at approximately USD 18.4 Billion in 2022 and is expected to reach USD 19.5 Billion in 2023 and is expected to reach a value of around USD 33.6 Billion by 2032, at a compound annual growth rate (CAGR) of about 6.2% during the forecast period 2023 to 2032.”

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Golf Tourism Market: Growth Factors and Dynamics

Global Popularity of Golf: The worldwide popularity of golf, fueled by major tournaments like the Masters and The Open, contributes to the growth of golf tourism as enthusiasts seek to experience renowned golf courses and events.

Rise of Leisure and Recreational Golfers: The increasing number of leisure and recreational golfers, drawn to the sport for relaxation and social experiences, drives demand for golf tourism packages that offer diverse courses and destinations.

Golf Course Quality and Design: The quality and design of golf courses play a crucial role, in influencing travel decisions. Destinations with well-designed and challenging courses attract golf tourists seeking unique and memorable experiences.

Destination Marketing and Promotion: Effective marketing and promotion of golf destinations through digital platforms, travel agencies, and partnerships contribute to the growth of golf tourism by attracting a broader audience and creating destination awareness.

Emergence of Golf Resorts: The rise of golf resorts, offering a combination of golf facilities and luxury accommodations, appeals to travelers seeking comprehensive golf experiences, contributing to the overall growth of the golf tourism market.

Innovation in Golf Packages: The introduction of innovative golf tour packages, including themed tours, golf and spa combinations, and customized itineraries, caters to diverse preferences and encourages repeat visits, fostering sustained growth in the golf tourism market.

Corporate Golf Tourism: The growth of corporate golf tourism, where businesses organize golf-related events, tournaments, and retreats, fosters a unique segment within the market. Corporate partnerships and incentives contribute to increased golf tourism, blending business objectives with leisure activities.

Technology Integration: The integration of technology, including online booking platforms, virtual course previews, and golf-related apps, enhances the accessibility and overall experience for golf tourists. Technology-driven innovations contribute to the ease of planning and participating in golf tourism activities.

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Golf Tourism Market: Partnership and Acquisitions

In 2022, Troon introduced the Troon Partners Network, a strategic partnership program connecting companies/brands with over 850,000 golfers at 650-plus Troon-affiliated golf courses globally. This network offers premier lifestyle and hospitality experiences, complemented by extensive media and marketing assets, providing unparalleled opportunities for collaboration and engagement.

In 2023, Golf management leaders, Troon, and Invited formed a strategic partnership where Troon acquired 18 club management and consulting agreements from Invited. This collaboration aims to reshape the future of membership hospitality and drive growth for both organizations, fostering a long-term relationship between the two entities.

In 2022, The Tourism Authority of Thailand (TAT) launches ‘Season 4’ in India, enhancing the golfing experience for Indian enthusiasts in Thailand. Simultaneously, growing awareness of the health benefits associated with sports is anticipated to further elevate the sport’s popularity in the years ahead.

Report Scope

Feature of the Report	Details
Market Size in 2023	USD 19.5 Billion
Projected Market Size in 2032	USD 33.6 Billion
Market Size in 2022	USD 18.4 Billion
CAGR Growth Rate	6.2% CAGR
Base Year	2022
Forecast Period	2024-2033
Key Segment	By Destination Type, Golfer Type, Golfing Package, Facility Type and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Golf Tourism report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Golf Tourism report has been modified to include the COVID-19 impact study prior to delivery.)

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Golf Tourism Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Golf Tourism Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

Travel Restrictions and Cancellations: Stringent travel restrictions and lockdowns led to widespread cancellations of golf trips and events, affecting the overall golf tourism market as travelers faced limitations on mobility.

Closure of Golf Courses and Facilities: Temporary closures of golf courses and facilities due to safety concerns hindered the ability of golf tourists to engage in the sport, causing a decline in bookings and revenue for golf destinations.

Economic Downturn and Spending Cuts: The economic fallout from the pandemic led to reduced disposable incomes, impacting golf tourism as potential travelers cut back on non-essential spending, including golf vacations and related activities.

Safety Protocols and Hygiene Standards: Implementing and communicating stringent safety protocols and hygiene standards to assure golf tourists of a secure and healthy environment, fostering confidence and encouraging a return to golf-related travel.

Domestic Golf Tourism Promotion: Promoting domestic golf tourism by emphasizing local destinations and courses. Travelers, cautious about international travel, may prefer exploring golf opportunities closer to home, contributing to the recovery of local golf tourism.

Digital Marketing and Online Booking Incentives: Leveraging digital marketing strategies and offering online booking incentives to attract golf tourists. Special packages, discounts, and flexible booking policies can entice travelers to plan and book golf trips through digital platforms.

Golf Events and Tournaments: Hosting and promoting golf events and tournaments with safety measures in place. These events not only attract participants but also serve as marketing tools, generating interest in the destination and reviving golf tourism.

Collaborations and Packages: Collaborating with airlines, hotels, and other stakeholders to create attractive golf packages. Bundling services, offering discounts, and collaborating with travel partners can make golf tourism more appealing and cost-effective for potential travelers.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Golf Tourism Market, with some challenges and opportunities arising from the pandemic.

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Key questions answered in this report:

What is the size of the Golf Tourism market and what is its expected growth rate?
What are the primary driving factors that push the Golf Tourism market forward?
What are the Golf Tourism Industry's top companies?
What are the different categories that the Golf Tourism Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Golf Tourism market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2023−2032
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Golf Tourism Market – Regional Analysis

The Golf Tourism Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

North America: North America is witnessing a trend towards golf and spa combinations, with resorts integrating wellness offerings to attract golf enthusiasts. There’s also a focus on technology integration for enhanced user experiences. Notable players include Your Golf Travel, PerryGolf, and Troon Golf, leveraging technology and partnerships to provide diverse golf experiences.

Europe: Europe is experiencing a rise in historical golf tourism, emphasizing courses with cultural significance and hosting events at iconic venues. Sustainable golf practices and eco-friendly courses are gaining prominence. Leading companies include Golfbreaks.com, IAGTO, and Carr Golf, contributing to Europe’s rich golf tourism landscape through partnerships and unique offerings.

Asia-Pacific: In the Asia-Pacific region, there’s a surge in adventure golf tourism, with a focus on courses in picturesque landscapes and the integration of unique cultural experiences. Online booking platforms and digital marketing play a crucial role. Key players like Golfasian and Tee Times Golf Agency are leading the way by providing diverse golf experiences and leveraging digital platforms for enhanced accessibility.

LAMEA (Latin America, Middle East, and Africa): LAMEA is witnessing a trend towards luxury golf resorts, combining golf with high-end accommodations and unique cultural experiences. There’s also an emphasis on promoting golf tourism through collaborative marketing initiatives. Noteworthy companies include Premier Golf LLC and Classic Golf Tours, contributing to the region’s golf tourism growth through strategic partnerships and tailored experiences.

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List of the prominent players in the Golf Tourism Market:

Your Golf Travel Ltd.
PerryGolf
com Ltd.
Carr Golf
Haversham & Baker Golfing Expeditions
Premier Golf LLC
Golfasian Co. Ltd.
Golf Holidays Direct
IAGTO (International Association of Golf Tour Operators)
Classic Golf Tours
Troon Golf LLC
International Golf & Country Club
Scottish Golf Tourism
Tee Times Golf Agency
Golf International Travel
Others

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The Golf Tourism Market is segmented as follows:

By Destination Type

Golf Resorts
Urban Golf Courses
Scenic/Leisure Golf Retreats

By Golfer Type

Leisure Golfers
Professional Golfers
Corporate/Business Golfers

By Golfing Package

All-Inclusive Golf Vacations
Weekend Golf Getaways
Customized Golf Tour Packages

By Facility Type

Championship Golf Courses
Resort-Based Golf Facilities
Others

Click Here to Get a Free Sample Report of the Global Golf Tourism Market @ https://www.custommarketinsights.com/report/golf-tourism-market/

Regional Coverage:

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
France
U.K.
Russia
Italy
Spain
Netherlands
Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Taiwan
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Golf Tourism Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Golf Tourism Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Golf Tourism Market? What Was the Capacity, Production Value, Cost and PROFIT of the Golf Tourism Market?
What Is the Current Market Status of the Golf Tourism Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Golf Tourism Market by Considering Applications and Types?
What Are Projections of the Global Golf Tourism Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Golf Tourism Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Golf Tourism Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Golf Tourism Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Golf Tourism Industry?

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Reasons to Purchase Golf Tourism Market Report

Golf Tourism Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Golf Tourism Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Golf Tourism Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Golf Tourism Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Golf Tourism market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Golf Tourism market analysis.

The competitive environment of current and potential participants in the Golf Tourism market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Golf Tourism market should find this report useful. The research will be useful to all market participants in the Golf Tourism industry.
Managers in the Golf Tourism sector are interested in publishing up-to-date and projected data about the worldwide Golf Tourism market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Golf Tourism products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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