July 2023 Industry Report

Slow play is always a “hot topic” during 19th hole discussions. Did you know? Nullarbor Links in Australia is the longest golf course in the world. This 848-mile (this is not a typo), par-72 golf course consists of a unique design. There are 18 towns along the Eyre Highway. Each town contains one hole, requiring you to drive between them. It is advisable to set aside four days to complete the golf course. However, speedy players have reported finishing in three days!

A $100 Billion Industry

According to the National Golf Foundation, entering June, golf club dollar shipments­­ are down about 4% compared to the same mid-year stretch in 2022, while golf balls are up almost 18 percent. This makes sense with affluent consumers more cautious about purchases while tee sheets continue to see strong demand. With the help of increased demand and inflation, golf is now more than a $100 billion industry in America (20% larger than in 2016) and generates more than five times the revenue of the NFL (National Football League) and more than double the revenue of Netflix.

Philanthropic Aspect of Golf

Consider golf’s philanthropic contributions. No sport has as significant a charitable effect, which enabled $4.6 billion in giving in 2022. Need perspective? That’s approximately 1% of all charitable giving in America ($485 billion), from individuals, bequests, foundations, and corporations combined.