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Global Golf Tourism Market 2019 by Company, Regions, Type and Application, Forecast to 2024
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Global Golf Tourism Market Reduce To $ 15053.66 Million By 2023 From $ 15505.84 Million In 2018
Golf tourism refers to trips or holidays in which the main purpose is to play golf. Golf tourism is a niche market of sports tourism. Golf may also be pursued as a secondary activity (for example, someone on a beach holiday playing a round during their vacation).
Although golf tourists value personal contact with travel agents, they are increasingly booking their holidays online. Golf tourism is a particularly interesting market as golfers often travel in groups, with their partner or friends.
Global sales of Golf Tourism has been decreasing during the past six years with an average growth rate of (2.35)%. Compared to 2016, Golf Tourism market managed to reduce revenue by 1.05 percent to $15703.71 million worldwide in 2017 from $15870.30 million in 2016. Overall, the Golf Tourism market performance is not developing as expected though many golf courses are under construction.
The global Golf Tourism market is forecasted to keep the trend, reduce to $ 15053.66 million by 2023 from $ 15505.84 million in 2018, exhibits a CAGR of (0.59)% from 2018 to 2023. Factors such as growing number of golf courses worldwide, association initiatives and sponsorship deals, launch of low-cost airlines, as well as the growing popularity of professional golf tournaments, are bringing the opportunities of the development of Golf Tourism market globally.
Europe, North America and Asia-Pacific are the most popular destination regions, occupied about 94% of market share, in terms of revenue. More than 44% of Golf Tourism service were set in the Europe market, which held the dominant position in the global Golf Tourism market. And it is expected to retain its dominance over the forecast period (2018 – 2023), with the market share of 43.79% in 2023. While the South America would emerging with a highest rate of 4.43% during the forecast period.
Golf Tourism market is relatively fragmented with fierce competition. Your Golf Travel is the world leading player in global Golf Tourism market with the market share of 0.25% in 2017, in terms of revenue, followed by Golfbreaks, Golf Plaisir, EasyGolf Worldwide Australia, Golfasian, Classic Golf Tours, Premier Golf, Carr Golf, PerryGolf, Haversham & Baker, Emirates Holidays, Caribbean Golf & Tours, Golf Holidays Direct, SouthAmerica.travel and Ascot Golf?Tours. The top 15 listed companies accounted for 1.33% of the revenue market share in 2017.
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