Technavio, a tech-focused market research firm, has published a new report on the global golf tourism market, which is expected to grow at a CAGR of close to 14% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global golf tourism market into the following key regions: the Americas, APAC, and EMEA.
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Top three contributors for the global golf tourism market are elaborated below
Golf tourism market in the Americas: The Americas is home to many of the world’s golf course suppliers, with the majority located in the US. The growing interest among millennials in golf and the increased number of rounds played by baby boomers will continue to impact the golf tourism industry in the Americas positively.
According to Brijesh Choubey, a lead analyst at Technavio, specializing in research on retail goods and services, “Relatively stable economies, favorable weather conditions, a variety of terrains, and widespread media exposure drive the market’s growth in the region. Owing to the re-entry of golf into the Summer Olympic Games, the game has started receiving more attention. The stakeholders in the industry are anticipating the Olympics will have significant positive impact on the golf industry in the region and around the world.”
Golf tourism market in EMEA: The increasing number of golf course equipment suppliers and economic development of the overall region is expected to fuel the demand for golf tourism during the forecast period. With golf federations, such as European Tour taking up initiatives and the promotion of golf for juniors, countries like Switzerland, Belgium, and Scotland have managed to attract new golfers. Besides, with the initiation from governments in Africa, the golf market at large is expected to receive recognition and financial aids.
Golf tourism market in APAC: The market in APAC is growing at a steady rate due to the increased consumer awareness about golf and the growth of the corporate sector in countries like India and China. Asia’s high golf season is officially from November to March, which is the best season to play golf, particularly in countries such as Thailand, Vietnam, and Cambodia. The demand for golf tours and resort bookings is strong during this period.
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The top vendors operating in the global golf tourism market are:
- Golfasian
- Golfbreaks
- PerryGolf
- SGH Golf
- Your Golf Travel
Other prominent vendors in the market include Asian Tour, Carr Golf, Direct Golf Holidays, Haversham & Baker, and Premier Golf.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Golf Tourism Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Golf Cart Market 2017-2021
- Global Golf Equipment Market 2016-2020
- Global Golf Push and Pull Cart Market 2016-2020
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