About Golf Tourism
Golf tourism is seeing growing popularity, particularly as a form of recreational sporting rather than a competitive one. Tour package vendors are coming up with offers such as individual low-price or even zero-price overnight stays to attract customers.
Technavio’s analysts forecast the global golf tourism market to grow at a CAGR of 14.24% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global golf tourism market for 2017-2021. To calculate the market size, the report considers the revenue generated from the retail sales of golf tourism packages to individual consumers.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Golf Tourism Market 2017-2021
Technavio recognizes the following companies as the key players in the global golf tourism market: Golfasian, Golfbreaks, PerryGolf, SGH Golf, and Your Golf Travel.
Other Prominent Vendors in the market are: Asian Tour, Carr Golf, Direct Golf Holidays, Haversham & Baker, and Premier Golf.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is advances in golf technology. Manufacturers in the golf industry are making continuous efforts to develop technologically advanced equipment to attract enthusiasts. Vendors are developing modern, customized golf equipment to motivate consumers to replace their equipment with upgraded versions. Players prefer using equipment with the latest technologies, which helps them understand their movements while striking the ball and monitor the interaction between the golf club and the ball.”
According to the report, one of the major drivers for this market is growing number of golf courses worldwide. Though golf courses remain highly concentrated in the top 20 golfing nations, their number is increasing across the globe. In January 2015, a total of 34,011 golf facilities were identified worldwide. Most (nearly 70%) of these facilities were located in the top 10 golfing countries, including Canada, England, Japan, and the US. A number of these facilities are in private clubs, golf resorts, and golf-centric real estate, and are thus largely accessible. Seventy percent of the 34,011 golf facilities across the globe are open to the public.
Further, the report states that one of the major factors hindering the growth of this market is elite nature of game. Golf tourism packages offered by global vendors are usually expensive, particularly those involving international travel, and this might restrict the growth of the market over the next five years. Most consumers in the developing as well as developed regions are reluctant to buy these products and packages, owing to their high costs, which in turn affects the overall revenue of the global golf tourism market.
Golfasian, Golfbreaks, PerryGolf, SGH Golf, Your Golf Travel, Asian Tour, Carr Golf, Direct Golf Holidays, Haversham & Baker, Premier Golf.
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