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The golf tourism market size is forecast to increase by USD 9.09 billion at a CAGR of 6.72% between 2023 and 2028. Government backing for golf tourism fuels market growth, notably in regions like North America where tourism is burgeoning. Governments worldwide are bolstering the sector's expansion, establishing comprehensive frameworks to meet escalating demand. Concurrently, the surge in outdoor recreational activities contributes to market dynamics. Increased engagement in pursuits like hiking, wildlife safaris, camping, and fishing reflects a global trend driven by consumers seeking respite from hectic lifestyles. This inclination towards health consciousness and stress relief motivates individuals to explore diverse recreational options, propelling the market growth.
It also includes an in-depth analysis of market trends and analysis, market growth analysis, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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The market is a dynamic sector fueled by the passion for the golf sport and bolstered by robust sporting infrastructure worldwide. With participation from both professional and amateur golf players, prestigious events like the RBC Canadian Open and CP Women’s Open attract attention, particularly from female golfers. Initiatives like Golf Saudi and the Aramco Team Series further promote golf, garnering support from local governments and tourism boards. As the demand for golf tourism rises, both domestic and international trips to renowned courses and events increase, including corporate golf events, facilitated by efficient inventory management systems and renowned brands like Callaway Golf. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
A significant driving force behind market growth is the burgeoning government backing for golf-tourism, amidst a surge in global tourism appeal, notably in North America. Various governmental bodies worldwide are actively bolstering their countries' tourism sectors. For instance, authorities are meticulously crafting comprehensive frameworks to cater to escalating interest, thereby fostering luxury accommodations, tourist attractions, and resort amenities. These concerted efforts not only bolster the tourism industry but also entice both international and domestic travelers.
Moreover, factors such as the proliferation of golf courses, upscale resort facilities, and diverse leisure activities are fueling market expansion, alongside burgeoning traveler preferences and evolving tourism trends.
A key factor shaping the market growth is the rise in popularity of outdoor recreational activities. There is an increasing participation of people across the world in several outdoor recreational activities such as hiking, wildlife safari, camping, fishing, and others. One of the main factors that significantly fuelling the participation of these outdoor recreational activities is the hectic lifestyle schedules, which are encouraging consumers to become more health-conscious and scout for different ways to de-stress.
Furthermore, the increase in disposable income is allowing customers to experience more outdoor activities. Thus, factors such as the growing participation in outdoor recreational activities, the growing interest of consumers in exploring the beauty of nature, and growing health awareness are expected to positively impact the market growth. Hence, such factors are driving the market growth during the forecast period.
The elite nature of golf as a sport is one of the key challenges hindering market growth. One of the main participants of the sport is the affluent sections of society, as it is considered a game for the elite. The key reason for this is the high cost of the equipment. As a result, many consumers in developing and developed regions are reluctant to invest in equipment as well as opt for tourism.
Additionally, this sport is not popular in some developing countries. Thus, courses are available only in resorts. These courses in resorts are very expensive and are not affordable for the majority of the population. Additionally, renting a golf-cart can add to these expenses. Hence, the elite nature of the sport negatively impacts the market. Hence, such a factor hinders the market growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ananta Group Pvt. Ltd: The company offers golf tourism services.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The male segment is estimated to witness significant growth during the forecast period. There is an increasing focus by key companies on tourists especially those who are predominantly middle-aged males and who play golf as a secondary activity while on vacation or a business trip or those who prefer to participate in this tourism as spectators. There is a significant increase over the years and is expected to grow further due to its expansion to many destinations.
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The male segment was the largest segment and was valued at USD 13.41 billion in 2018. Some of the key reasons why golf can be included as a leisure activity include watching sports events, nostalgia for sports tourism, and active participation in sports as a part of vacation activities. Additionally, there is a growing popularity for golf as a game across the world due to factors such as improved living standards, increased interest among men, and better sports facilities, which in turn is expected to significantly contribute to this segment. Furthermore, several governments across the globe are promoting golfing destinations to domestic and international tourists, which will essentially attract the male segment. Hence, such factors are expected to fuel the growth of this segment which, in turn, will drive the market growth during the forecast period.
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APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to vendors is North America. Some of the key countries that are significantly contributing to the market growth in North America include the US and Canada. Additionally, there is a high potential for growth of the market in South America due to the presence of well-developed economies, favorable weather conditions, availability of a variety of terrains, and extensive media exposure to the sport.
Furthermore, the game has a stable participation rate, and there has been an increase in the number of players over the last 4-5 years. Additionally, there is an increasing preference for visiting courses for tourism, especially in North America and Mexico, which is known for professional events such as PGA tours. Hence, such factors are expected to drive the market growth and forecasting in the region during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Golf Clubs Market: Golf Clubs Market by Application, Product, and Geography - Forecast and Analysis
Sports Tourism Market: Sports Tourism Market by Type, Product, Area, and Geography - Forecast and Analysis
Golf Push and Pull Cart Market: Golf Push and Pull Cart Market by End-user, Product, and Geography - Forecast and Analysis
The market thrives on a global scale, with contributions from various stakeholders, including the Canadian Federal Government, supporting both the domestic application segment and the international segment. Events like the DP World Tour attract discerning travelers to world-class destinations and World-class golf courses boasting top-notch accommodation, Top-notch facilities, dining, and services alongside renowned architects' craftsmanship, ensuring exceptional course quality and personalized experiences.
Furthermore, catering to diverse needs, golf tourism extends beyond leisure, offering opportunities for corporate groups, retreats, conferences, and team-building activities. Emphasizing environmental conservation and sustainability practices, golf destinations integrate eco-friendly initiatives, such as water conservation and habitat preservation, alongside holistic wellness experiences like spa treatments and yoga classes. Culinary delights, heritage tours, and outdoor exploration further enhance the allure of golf tourism, making it a sought-after option for travelers seeking memorable experiences.
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Industry Scope |
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Report Coverage |
Details |
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Page number |
157 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.72% |
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Market growth 2024-2028 |
USD 9.09 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.18 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 38% |
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Key countries |
US, Japan, UK, Canada, and Australia |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Ananta Group Pvt. Ltd., Ascot Tours, Carr Golf and Corporate Travel Ltd., Duffers Golf Travel, Fairway Golf Tours, GARMANY GOLF and TRAVEL LLC, Go Golfing, Golf and Tours Pty Ltd., Golf Tourism Australia, Golf Tours International Ltd., Golf Tours Worldwide, Grasshopper Golf Tour, Indian Holiday Pvt. Ltd., Liberty Travel and Tours M Sdn Bhd, Palatinate Group Ltd., Perry Travel Inc., Pioneer Golf Inc., Scottish Golf Holidays Inc., The Golf Travel Group., and Travel Impresarios |
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Market dynamics |
Parent market analysis, Market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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