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Golf Tourism Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

  • Published: Aug 2021
  • Pages: 117
  • SKU: IRTNTR45526
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The golf tourism market share is expected to increase by USD 41.04 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 17.83%.

This golf tourism market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers golf tourism market segmentation by type (domestic and international) and geography (North America, APAC, Europe, South America, and MEA). The golf tourism market report also offers information on several market vendors, including Golf Tours International, Golf Tours Worldwide, Golfasian Co. Ltd., Golfbreaks Ltd., Liberty Travel and Tours (M) Sdn Bhd, Palatinate Group Ltd., Perry Travel Inc., Premier Golf Tours, Scottish Golf Holidays Inc., and The Haversham and Baker Co. among others.

What will the Golf Tourism Market Size be During the Forecast Period?

Golf Tourism Market Size

Download the Free Report Sample to Unlock the Golf Tourism Market Size for the Forecast Period and Other Important Statistics

 

Golf Tourism Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and after post-COVID-19 era. The growing emphasis on golf infrastructure worldwide is notably driving the golf tourism market growth, although factors such as the increasing threat from fantasy golf may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the golf tourism industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Golf Tourism Market Driver

One of the key factors driving the golf tourism market is the growing emphasis on golf infrastructure worldwide. Despite the fact that golf courses are concentrated in the top 20 golfing countries, their number is steadily increasing around the world. In 2020, there are over 38,000 golf courses available around the world. However, the majority of these facilities are in Australia, Canada, England, Japan, and the US, which are among the top ten golfing countries in the world. In addition, the majority of these facilities are located in private clubs, golf resorts, and golf-centric real estate, making them inaccessible to the general public. North America accounted for roughly half of the total global golf course supply, followed by Europe (about a quarter) and Asia (roughly a quarter) (nearby 20% ). Furthermore, over 670 golf courses are either being built or are in the planning stages. Asia, Europe, and North America account for nearly 80% of all golf courses currently being built or planned. The expansion of golf courses in these regions will boost the golf tourism market in these areas, resulting in significant growth in the global golf tourism market over the forecast period.

Key Golf Tourism Market Trend

Technological developments in the golf industry to improve golf tourism prospects are another factor supporting the golf tourism market growth in the forecast period. Golf equipment manufacturers are working hard to develop technologically advanced equipment that will appeal to sports fans. The major competitors are developing modern, customized golf equipment to encourage customers to replace their old equipment with newer models. Furthermore, the global golf equipment market's leading competitors are heavily investing in R&D to develop new and innovative product variants. The slow pace of golf, on the other hand, is one of the biggest concerns among players. Moreover, the scarcity of leisure time discourages new golfers from participating or even playing on a regular basis. This problem can be solved through the use of technology. As a result, it's evident that using technologically advanced golf equipment can cut down on the time it takes to play a round of golf, enticing more people to take up the sport. During the forecast period, this is expected to have a positive impact on the global golf tourism market's growth.

Key Golf Tourism Market Challenge

The increasing threat from fantasy golf will be a major challenge for the golf tourism market during the forecast period. A fantasy sport, also known as rotisserie or roto, is an online game in which players create virtual and imaginary teams made up of real players. These virtual teams compete in a real-life game based on the statistical performance of the selected players. Over the last 5-6 years, fantasy golf games have seen a significant increase in popularity. Furthermore, fantasy golf has grown in popularity at a time when the real game's popularity is waning. However, the growing popularity of fantasy golf has resulted in increased revenue for fantasy golf service and interface providers. In addition, to help the popularity of fantasy golf, young enthusiasts are attempting to engage in the sport with the aid of technology. The average age of fantasy golf participants is 34, according to the Fantasy Sports Trade Association (FSTA), making the platform ideal for promoting the sport among young people. However, the dramatic rise in the popularity of fantasy golf among young players can only mean that more potential players will be driven away from the real game, putting the golf tourism market in jeopardy during the forecast period.

This golf tourism market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global golf tourism market as a part of the global hotels, resorts, and cruise lines market. Furthermore, the growing travel and tourism industry, increasing consumers' interest in cruise travel, and innovations to enhance customer experience and business operations are some factors driving the growth of the market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the golf tourism market during the forecast period.

Who are the Major Golf Tourism Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Golf Tours International
  • Golf Tours Worldwide
  • Golfasian Co. Ltd.
  • Golfbreaks Ltd.
  • Liberty Travel and Tours (M) Sdn Bhd
  • Palatinate Group Ltd.
  • Perry Travel Inc.
  • Premier Golf Tours
  • Scottish Golf Holidays Inc.
  • The Haversham and Baker Co.

 

This statistical study of the golf tourism market encompasses successful business strategies deployed by the key vendors. The golf tourism market is fragmented and the vendors are deploying growth strategies such as geographic expansion to compete in the market.

Product Insights and News

  • Golf Tours International - The company offers quality and affordable U.K and international golf holidays and organizes successful corporate golfing events.
  • Palatinate Group Ltd. - The company offers Your Golf Travel Limited is part of the palatinate Group a leisure and holiday specialist.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The golf tourism market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Golf Tourism Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the golf tourism market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global hotels, resorts, and cruise lines market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Golf Tourism Market?

Golf Tourism Market Market segmentation by region

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53% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for golf tourism in North America. Market growth in this region will be faster than the growth of the market in MEA and South America.

The presence of well-developed economies, favorable weather conditions, availability of a variety of terrains, and extensive media exposure to the sport will facilitate the golf tourism market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of the COVID-19 pandemic severely impacted North America in 2020. Countries in the region imposed strict lockdowns and social distancing regulations to contain the spread of the COVID-19 pandemic in 2020, which affected various hospitality services. However, the advent of vaccination drives and relaxations in lockdown norms in the region in the first half of 2021 resulted in the resumption of recreational activities, such as golf courses, which led to an increase in the growth of golf tourism in 2021. This is expected to further boost the regional market growth during the forecast period.

What are the Revenue-generating Type Segments in the Golf Tourism Market?

Golf Tourism Market Segmentation

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The market share growth by the domestic segment during the forecast period. Owing to advantages such as familiarity with the country's sports tourism policies and rules and the lesser financial tax imposed. Various vendors in the golf tourism market are offering domestic golf tourism to famous places in their home countries, which have picturesque natural beauty.

This report provides an accurate prediction of the contribution of all the segments to the growth of the golf tourism market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Golf Tourism Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 17.83%

Market growth 2021-2025

$ 41.04 billion

Market structure

Fragmented

YoY growth (%)

31.56

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

North America at 53%

Key consumer countries

US, Japan, UK, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Golf Tours International, Golf Tours Worldwide, Golfasian Co. Ltd., Golfbreaks Ltd., Liberty Travel and Tours (M) Sdn Bhd, Palatinate Group Ltd., Perry Travel Inc., Premier Golf Tours, Scottish Golf Holidays Inc., and The Haversham and Baker Co.

Market dynamics

Parent market analysis, 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

Customization purview

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What are the Key Data Covered in this Golf Tourism Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive golf tourism market growth during the next five years
  • Precise estimation of the golf tourism market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the golf tourism industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of golf tourism market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Hotels, restaurants, and leisure market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Type

    • 5.1 Market segments
      • Exhibit 15: Type - Market share 2020-2025 (%)
    • 5.2 Comparison by Type
      • Exhibit 16: Comparison by Type
    • 5.3 Domestic - Market size and forecast 2020-2025
      • Exhibit 17: Domestic - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 18: Domestic - Year-over-year growth 2020-2025 (%)
    • 5.4 International - Market size and forecast 2020-2025
      • Exhibit 19: International - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 20: International - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by Type
      • Exhibit 21: Market opportunity by Type

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 23: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 24: Geographic comparison
    • 7.3 North America - Market size and forecast 2020-2025
      • Exhibit 25: North America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 26: North America - Year-over-year growth 2020-2025 (%)
    • 7.4 APAC - Market size and forecast 2020-2025
      • Exhibit 27: APAC - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 28: APAC - Year-over-year growth 2020-2025 (%)
    • 7.5 Europe - Market size and forecast 2020-2025
      • Exhibit 29: Europe - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 31: South America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 32: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 33: MEA - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 35: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 36: Market opportunity by geography ($ billion)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 37: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Vendor landscape
          • Exhibit 38: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 39: Landscape disruption
          • Exhibit 40: Industry risks
        • 9.3 Competitive landscape

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 41: Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 42: Market positioning of vendors
          • 10.3 Golf Tours International
            • 10.4 Golf Tours Worldwide
              • Exhibit 46: Golf Tours Worldwide - Overview
              • Exhibit 47: Golf Tours Worldwide - Product and service
              • Exhibit 48: Golf Tours Worldwide - Key offerings
            • 10.5 Golfasian Co. Ltd.
              • Exhibit 49: Golfasian Co. Ltd. - Overview
              • Exhibit 50: Golfasian Co. Ltd. - Product and service
              • Exhibit 51: Golfasian Co. Ltd. - Key offerings
            • 10.6 Golfbreaks Ltd.
              • Exhibit 52: Golfbreaks Ltd. - Overview
              • Exhibit 53: Golfbreaks Ltd. - Product and service
              • Exhibit 54: Golfbreaks Ltd. - Key offerings
            • 10.7 Liberty Travel and Tours (M) Sdn Bhd
              • Exhibit 55: Liberty Travel and Tours (M) Sdn Bhd - Overview
              • Exhibit 56: Liberty Travel and Tours (M) Sdn Bhd - Product and service
              • Exhibit 57: Liberty Travel and Tours (M) Sdn Bhd - Key offerings
            • 10.8 Palatinate Group Ltd.
              • Exhibit 58: Palatinate Group Ltd. - Overview
              • Exhibit 59: Palatinate Group Ltd. - Product and service
              • Exhibit 60: Palatinate Group Ltd. - Key offerings
            • 10.9 Perry Travel Inc.
              • Exhibit 61: Perry Travel Inc. - Overview
              • Exhibit 62: Perry Travel Inc. - Product and service
              • Exhibit 63: Perry Travel Inc. - Key offerings
            • 10.10 Premier Golf Tours
              • Exhibit 64: Premier Golf Tours - Overview
              • Exhibit 65: Premier Golf Tours - Product and service
              • Exhibit 66: Premier Golf Tours – Key News
              • Exhibit 67: Premier Golf Tours - Key offerings
            • 10.11 Scottish Golf Holidays Inc.
              • Exhibit 68: Scottish Golf Holidays Inc. - Overview
              • Exhibit 69: Scottish Golf Holidays Inc. - Product and service
              • Exhibit 70: Scottish Golf Holidays Inc. - Key offerings
            • 10.12 The Haversham and Baker Co.
              • Exhibit 71: The Haversham and Baker Co. - Overview
              • Exhibit 72: The Haversham and Baker Co. - Product and service
              • Exhibit 73: The Haversham and Baker Co. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 74: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 75: Research Methodology
                • Exhibit 76: Validation techniques employed for market sizing
                • Exhibit 77: Information sources
              • 11.4 List of abbreviations
                • Exhibit 78: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Golf Tourism Market market growth will increase by $41.04 bn during 2021-2025.
              The golf tourism market market is expected to grow at a CAGR of 17.83% during 2021-2025.
              Technavio has segmented the golf tourism market market by type (DomesticInternational and international) ,geography (North America, APAC, Europe, South America, and MEA) , and geographic (North America, APAC, Europe, South America, and MEA).
              Golf Tours International, Golf Tours Worldwide, Golfasian Co. Ltd., Golfbreaks Ltd., Liberty Travel and Tours (M) Sdn Bhd, Palatinate Group Ltd., Perry Travel Inc., Premier Golf Tours, Scottish Golf Holidays Inc., The Haversham and Baker Co. are a few of the key vendors in the golf tourism market market.
              North America will register the highest growth rate of 53% among the other regions. Therefore, the golf tourism market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the golf tourism market market growth are:
              • growing emphasis on golf infrastructure worldwide
              • technological developments in the golf industry to improve golf tourism prospects
              The golf tourism market market vendors should focus on grabbing business opportunities from the domesticinternational segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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