The National Golf Foundation, the body which provides golf business research and consulting services to the industry in the US, has reported that 80% of golf clubs in the US have undertaken course investments in the last five years.
Of the estimated $4.3 billion spent on golf courses since 2018, $1.13bn has been spent on renovating and improving greens, $1.2bn has been invested in irrigation systems, and $1.92bn has been spent on other renovations, including investment in fairways, bunkers, tees, maintaining cart paths, and general landscaping.
The news comes on the back of NGF research published at the end of 2022 that showed that new golf course construction is on the rise fior the first time in almost 20 years in the US. A total of 54 golf courses were under construction nationwide and at least 38 others are currently in the planning stages.
Since 2006, 624 golf courses have opened in the US, while 2,162 have closed, amounting to a net loss of 1,538.