Nine leading golf bodies have joined forces with KPMG’s specialist Golf Advisory Practice to publish a pioneering report that is set to reveal the economic value of the golf business in Europe, the Middle East and Africa.
The report, to be unveiled at this month’s Ryder Cup, has been compiled by KPMG’s Golf Advisory Practice EMA in partnership with Oxford Economics, and with the full support of key bodies from across the golf industry and the professional game. It will reveal the economic impact of the game across the Europe, Middle East and Africa region, in terms of revenue, jobs, wages and contribution to GDP.
“This is a wide-ranging and ambitious study, the first time this kind of research has been done on this side of the Atlantic,” says Andrea Sartori, head of KPMG’s Golf Advisory Practice, who initiated the report. “It comes at a time when the game is growing in the EMA region, with burgeoning growth in golf tourism and real estate, the near-global expansion of the European Tour, and big investment in emerging markets such as the Middle East and Eastern Europe.”
“The study shows the importance of the Golf Industry as an economic force and gives us a good starting point to measure the development of the industry,” says Lodewijk Klootwijk, CEO of the European Golf Course Owners Association, representing the golf bodies involved.
The study, titled ‘The Value of Golf to Europe, the Middle East and Africa’, calculates the value of the game by combining six specified golf economic sectors: golf course operations (e.g. green fees, memberships); capital investments (e.g. new course developments); golfer supplies (e.g. equipment, clothing); golf tournaments; golf tourism; and golf real estate. It reveals key figures on all these sectors, and also compares the golf business in EMA with that in the USA.
“I hope this report will prove an invaluable aid to investors and decision-makers across the industry,” continues Sartori. “It represents a unique coming-together of the golf community, and I would like to thank all the industry bodies and individuals who have participated.”
The study is being supported by Golf Environment Europe, The R&A, Club Managers Association of Europe, European Golf Course Owners Association, PGAs of Europe, the European Tour, the European Golf Industry Association, The European Institute of Golf Course Architects and FEGGA.
The study will be unveiled in full in the Ryder Cup week and published on the web page: www.golfbenchmark.com on 17th September 2008.