Global Golf Tourism Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Jul 17, 2024 - 20:51

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Global Golf Tourism Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope
Golf tourism refers to the trips undertaken by people to play golf. Golf is a sport in which players use a club to hit a small ball into a series of cups set out on a course. Golf tourism is a part of sport tourism, which is one of the tourism industry's fastest-growing segments. Golf tourism refers to domestic or international trips taken by people who play golf at least once while traveling to any destination.

Sizing and Forecast
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.

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Segmentation & Regional Insights
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

North America was the largest region in the golf tourism market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the golf tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
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.

Key Industry Players
Major companies operating in the golf tourism market report are Fairway Escapes, Goway Travel, Golfbreaks Ltd, Greenscape Holidays, Par Excellence Getaways, Carr Golf, Premier Golf Tours, Kalos Golf, Celtic Golf, Golfasian Co. Ltd, Direct Golf Holidays, SouthAmerica.travel, Ascot Golf Tours, Chaka Travel, TeeTime Travels, Eagle's View Golf Tours, Golf Tours International, GHW Golf Tours, Perry Travel Inc, Scottish Golf Holidays Inc, The Haversham and Baker Co, GolfHolidays.com, Sophisticated Golfer, Caribbean Golf & Tours, Classic Golf Tours, Golf Plaisir, EasyGolf Worldwide Australia, Asian Tour, Links & Leisure Tours, Birdie Bound Adventures, Driveway Golf Tours, Mulligan Travels, Stroke Savvy Tours

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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31. Global Golf Tourism Market Competitive Benchmarking
32. Globa Golf Tourism Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fat Replacers Market
34. Golf Tourism Market Future Outlook and Potential Analysis
35. Appendix