Golf Tourism Market Overview:
As per MRFR analysis, the golf tourism market size was estimated at 62.7 (USD Billion) in 2022. The golf tourism Market Industry is expected to grow from 64.76(USD Billion) in 2023 to 86.626 (USD Billion) by 2032. The golf tourism market CAGR (growth rate) is expected to be around 3.5% during the forecast period (2024 - 2032).
Key Golf tourism Market Trends Highlighted
The global golf tourism is poised for significant growth, driven by several key market trends. Firstly, the increasing popularity of golf as a recreational activity is driving demand for golf-related travel. Secondly, the rise of experiential tourism is prompting travellers to seek immersive and memorable experiences, including golf tourism. Thirdly, technological advancements, such as online booking platforms and mobile apps, have made it easier for travellers to plan and book golf trips.
In terms of key opportunities, the golf tourism can capitalize on the growing demand for personalized and customized travel experiences. Additionally, there is an opportunity to expand into emerging markets, such as Asia-Pacific and Latin America, where golf tourism has significant potential for growth. The sector can also explore partnerships with other tourism industries, such as hospitality and transportation, to create comprehensive and seamless travel packages for golf enthusiasts.
Recent trends in the golf tourism include the growing popularity of short-haul golf trips, as well as the increasing demand for environmentally sustainable golf tourism experiences. Additionally, the use of technology to enhance the golf tourism experience is becoming increasingly prevalent, with the introduction of virtual reality and augmented reality applications.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Golf Tourism Market Drivers
Rising Popularity of Golf as a Leisure Activity
Golf has become a very popular form of recreation and is played by individuals of all ages and skills. Due to the growing popularity of golf and the high interest in this activity, golf tourism has experienced growth and development.
People are very eager to pay for the experience of playing golf on various famous gold courses. In the future, the demand for golf tourism will continue growing and the best golf courses will experience the highest demand.
Expansion of Golf Infrastructure and Facilities
Golf tourism has encountered an overall expansion in the amount of golf infrastructure. This expansion includes the development of new golf courses and the renovation and expansion of existing facilities. The latter has an impact of enhancing the quality of the experience that the facilities provide while providing for an increase in demand as broader market segments are targeted by the golf tourism industry.
A broader aspect to note is the establishment of golf academies and golf training centers that target improving the overall player profiles by broadening available opportunities for skill development on the player’s part.
Technological Advancements in Golf Equipment and Technology
The development of golf equipment and technology has significantly contributed to the better experience of the game. New and more innovative clubs, balls, and other equipment make it easier to play and improves the chances of scoring a better result.
The growing use of technological devices, such as GPS golf trackers and devices, as well as apps monitoring the swings and individual games, are capable of providing priceless data and information helping to better understand the game, as well as how to approach it.
Since such developments have facilitated the game and results for users, it has also positively reflected on the increased interest and expanded experience, showing in the improved levels of engagement and satisfaction.
Golf Tourism Market Segment Insights:
Golf Tourism Market Type Insights
The global golf tourism market is segmented by type into domestic golf tourism and international golf tourism. The domestic golf tourism segment held a substantial market share in 2023 and is anticipated to maintain its dominance throughout the forecast period. This is primarily attributed to the ease of access, lower travel costs, and familiarity with local golf courses among domestic tourists.
The international golf tourism segment is projected to exhibit a steady growth rate during the forecast period, driven by factors such as the increasing popularity of golf tourism as a leisure activity, the rise in disposable income, and the expansion of international golf tournaments. The global golf tourism market is expected to reach a valuation of USD 68.54 billion by 2024, expanding at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2032.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Golf Tourism Market Purpose Insights
The global golf tourism market segmentation by purpose includes recreational golf tourism, competitive golf tourism, business golf tourism, and educational golf tourism. Recreational golf tourism held the largest market share in 2023, accounting for over 55% of the global revenue.
This segment is driven by the increasing popularity of golf as a leisure activity, with more people taking up the sport for fun and relaxation. Competitive Golf Tourism is expected to witness the fastest growth over the forecast period, with a CAGR of 4.5%.
This growth is attributed to the increasing number of professional golf tournaments and the rising popularity of golf as a spectator sport. Business Golf Tourism is another important segment, with a market share of over 20% in 2023.
This segment is driven using golf as a networking and relationship-building tool by businesses. Educational Golf Tourism is a niche segment, but it is expected to grow at a steady pace over the forecast period. This segment is driven by the increasing demand for golf instruction and training programs.
Golf Tourism Market Accommodation Type Insights
The accommodation type segment of the global golf tourism market is segmented into hotels, resorts, bed and breakfasts, and private homes. Among these, Hotels are expected to hold the largest market share, owing to the growing popularity of golf tournaments and the increasing number of golf courses around the world.
Resorts are expected to be the fastest-growing segment, as they offer a more comprehensive experience for golfers, including amenities such as spas, fitness centers, and restaurants. Bed and Breakfasts are expected to account for a small but significant portion of the market, as they offer a more intimate and personalized experience for golfers.
Private homes are expected to account for a small portion of the market, as they are typically only available to rent for short periods of time. The growth of the market is attributed to the increasing popularity of golf as a leisure activity, the growing number of golf courses around the world, and the increasing disposable income of consumers.
Golf Tourism Market Transportation Mode Insights
Transportation mode plays a key role in the overall growth of the golf tourism market. Travelers have various options to choose from, including air travel, car rental, private vehicles, and public transportation. Each mode of transportation has its own set of advantages and disadvantages, which can influence travelers' decisions.
Air travel is often the preferred choice for long-distance travel, as it is the fastest and most convenient option. However, it can also be the most expensive, especially for international flights. Car rental is a good option for travelers who want the flexibility to explore at their own pace.
It is generally more affordable than air travel, but it can be more expensive than public transportation. Private vehicles are a good option for travelers who are staying in one place for an extended period. They are the most affordable option, but they can be inconvenient if travelers are not familiar with the area.
Public transportation is a good option for travelers who are on a budget. It is the most affordable option, but it can be less convenient than other modes of transportation. In 2023, the air travel segment held the largest share of the Global Golf tourism Market revenue, and it is expected to maintain its dominance throughout the forecast period.
The growth of the air travel segment can be attributed to the increasing number of international golf tournaments and the rising popularity of golf tourism among high-net-worth individuals. The car rental segment is expected to witness the highest growth rate during the forecast period. The growth of the car rental segment can be attributed to the increasing number of golf courses being built in remote areas and the rising popularity of golf tourism among millennials.
Golf Tourism Market Travel Package Insights
The travel package segment is a significant part of the global golf tourism market, offering a range of options tailored to the diverse needs of golfers. All-inclusive packages provide a comprehensive experience, encompassing accommodation, meals, golf rounds, and other amenities, offering convenience and value for money.
Customized packages allow golfers to personalize their trips, selecting specific destinations, golf courses, and activities based on their preferences. Semi-inclusive packages offer a balance between flexibility and cost-effectiveness, including some meals and amenities while allowing golfers to pay separately for additional expenses.
Single-activity packages cater to golfers seeking focused experiences, providing access to specific golf courses or tournaments without additional frills. The travel package segment is expected to experience steady growth in the coming years, driven by increasing demand for customized and all-inclusive options, as well as the growing popularity of golf tourism worldwide.
Golf Tourism Market Regional Insights
The regional segmentation of the global golf tourism market offers valuable insights into the diverse market dynamics across different regions. North America, with its established golfing infrastructure and high disposable income, is projected to hold a significant share of the market in 2024, valued at around USD 25.68 billion.
Europe, driven by a large golfing population and well-developed tourism industry, is expected to account for a substantial share of USD 21.35 billion. The Asia-Pacific (APAC) region, with its emerging economies and growing interest in golf, is anticipated to witness significant growth, reaching an estimated USD 14.56 billion in 2024.
South America and the Middle East and Africa (MEA) regions are also expected to contribute to the overall market growth, with MEA showcasing a promising growth potential in the coming years. These regional insights are crucial for businesses operating in the global golf tourism market, enabling them to tailor their strategies according to the specific market dynamics and opportunities in each region.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Golf Tourism Market Key Players and Competitive Insights:
Major players in the golf tourism market are implementing various strategies to increase their market share and improve their position in the market. This includes investing in marketing and advertising campaigns, expanding their product portfolio, and acquiring other companies. They are also focusing on developing innovative technologies and services to attract more customers.
The leading golf tourism market players are focusing on providing a wide range of products and services to meet the needs of different customer segments. They are also investing in research and development to develop new and innovative products and services. The golf tourism market is expected to witness significant growth in the coming years, driven by the increasing popularity of golf as a sport and leisure activity.
One of the leading players in the golf tourism market is Hilton Grand Vacations. The company offers a variety of golf vacation packages to destinations around the world. Hilton Grand Vacations also owns and operates several golf resorts, including the Hilton Hawaiian Village Waikiki Beach Resort and Spa and the Hilton Head Island Resort. The company's focus on providing a high-quality golf experience has helped it to become one of the most popular choices for golfers who are looking for a vacation package.
A competitor of Hilton Grand Vacations is Marriott Vacation Club. Marriott Vacation Club offers a similar range of golf vacation packages to Hilton Grand Vacations. Marriott Vacation Club also owns and operates several golf resorts, including the Marriott's Grande Vista Resort in Orlando, Florida and the Marriott's Ko Olina Beach Club in Hawaii. The company's focus on providing a luxurious and relaxing golf experience has helped it to become a popular choice for golfers who are looking for a high-end vacation package.
Key Companies in the Golf Tourism Market Include:
- Dubai Golf
- International Golf Federation
- Club Mediterranee
- Troon
- Abacus Sports
- European Tour
- International Association of Golf Tour Operators
- Greg Norman Golf Course Design
- St Andrews Links Trust
- Asian Golf Industry Federation
- Asian Tour
- IMG
- PGA Tour
- The PGA of America
Golf Tourism Market Industry Developments
The global golf tourism market is projected to reach $86.626 billion by 2032, exhibiting a CAGR of 3.29% from 2023 to 2032. Growth in the market is attributed to factors such as increasing popularity of golf as a recreational activity, rising disposable income, and growing awareness about health benefits associated with golf.
Notable developments in the market include the launch of new golf courses and resorts, strategic partnerships between golf tourism operators and airlines, and the introduction of innovative technologies to enhance the golfing experience.
For instance, in 2023, Marriott International announced plans to open a new golf resort in Dubai, featuring an 18-hole championship golf course and a state-of-the-art golf academy. Additionally, the adoption of mobile apps and online booking platforms has made it easier for golfers to plan and book their golf vacations.
Golf Tourism Market Segmentation Insights
- Golf Tourism Market Type Outlook
- Domestic Golf Tourism
- International Golf Tourism
- Golf Tourism Market Purpose Outlook
- Recreational Golf Tourism
- Competitive Golf Tourism
- Business Golf Tourism
- Educational Golf Tourism
- Golf Tourism Market Accommodation Type Outlook
- Hotels
- Resorts
- Bed and Breakfasts
- Private Homes
- Golf Tourism Market Transportation Mode Outlook
- Air Travel
- Car Rental
- Private Vehicle
- Public Transportation
- Golf Tourism Market Travel Package Outlook
- All-Inclusive Packages
- Customized Packages
- Semi-Inclusive Packages
- Single-Activity Packages
- Golf tourism Market Region Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
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Report Attribute/Metric
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Details
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Market Size 2022
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62.7 (USD Billion)
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Market Size 2023
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64.76 (USD Billion)
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Market Size 2032
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86.626 (USD Billion)
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Compound Annual Growth Rate (CAGR)
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3.29% (2024 - 2032)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Base Year
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2023
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Market Forecast Period
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2024 - 2032
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Historical Data
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2019 - 2023
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Market Forecast Units
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USD Billion
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Key Companies Profiled
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Dubai Golf, International Golf Federation, Club Mediterranee, Troon, Abacus Sports, European Tour, International Association of Golf Tour Operators, Greg Norman Golf Course Design, St Andrews Links Trust, Asian Golf Industry Federation, Asian Tour, IMG, PGA Tour, The PGA of America
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Segments Covered
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Type, Purpose, Accommodation Type, Transportation Mode, Travel Package, Region
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Key Market Opportunities
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1.      Growing demand for luxury golf experiences
2.      Expansion into emerging markets
3.      Technological advancements enhancing the golf experience
4.      Rise in popularity of golf among millennials and women
5.      Increasing investment in golf infrastructure and facilities
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Key Market Dynamics
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1.      Increased popularity of golf tourism
2.      Rising demand for luxury golf experiences
3.      Growing number of golf courses and resorts
4.      Emergence of new golf destinations
5.      Technological advancements in golf equipment and technology
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Countries Covered
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North America, Europe, APAC, South America, MEA
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Frequently Asked Questions (FAQ) :
The global golf tourism market is expected to reach a value of USD 64.76 billion in 2023 and is projected to grow at a CAGR of 3.29% to reach a value of USD 86.626 billion by 2032.
The key regions in the global golf tourism market are North America, Europe, Asia-Pacific, and the Rest of the World. North America is the largest region, accounting for a significant share of the market in 2023.
The key applications of the global golf tourism market include golf courses, golf resorts, and golf tournaments. Golf courses are the most common application, accounting for much of the market share in 2023.
The key competitors in the global golf tourism market include Marriott International, Hilton Worldwide, AccorHotels, Starwood Hotels & Resorts, and Hyatt Hotels Corporation.
The global golf tourism market is expected to grow at a CAGR of 3.29% from 2023 to 2032.
The growth of the global golf tourism market is primarily driven by the increasing popularity of golf as a leisure activity, rising disposable income, and the growing number of golf courses and resorts around the world.
The global golf tourism market faces several challenges, including the high cost of golf courses and resorts, the lack of infrastructure in some regions, and the impact of weather conditions.
The global golf tourism market presents several opportunities for growth, including the expansion of golf tourism in emerging markets, the development of new golf courses and resorts, and the increasing use of technology to enhance the golf experience.
The key trends in the global golf tourism market include the growing popularity of golf tourism packages, the increasing use of online booking platforms, and the development of new golf technologies.
The outlook for the global golf tourism market is positive. The market is expected to continue to grow in the coming years, driven by the increasing popularity of golf, rising disposable income, and the growing number of golf courses and resorts around the world.
