Press release
Golf Tourism Market Outlook 2024: Exclusive Report By The Business Research Company
Golf Tourism
The Business Research Company offers in-depth market insights through Golf Tourism Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The golf tourism market size has grown strongly in recent years. It will grow from $5.44 billion in 2023 to $5.88 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to global popularity of golf, development of golf courses, international sporting events, resort and destination marketing, cultural and recreational attractions, corporate golf events.
The golf tourism market size is expected to see strong growth in the next few years. It will grow to $8.27 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to emergence of new golf destinations, golf course renovations and upgrades, culinary and gastronomic experiences, government support and investment, specialized golf events. Major trends in the forecast period include integration of technology in golf travel planning, sustainable and eco-friendly golf tourism, customized golf tour packages, collaborations with golf celebrities, golf cruise packages.
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Market Segmentation:
The golf tourism market covered in this report is segmented -
1) By Type: Domestic, International
2) By Service Type: Personal Tours, Professional Tours
3) By Sales Channel: Direct Channel, Distribution Channel
4) By End-User Sex: Male, Female
Major Driver - Government Backing Propels Growth In The Golf Tourism Market
The increasing government support for the promotion of golf tourism is expected to drive the growth of the golf tourism market going forward. The governments are promoting golf destinations to domestic and international tourists as a means of earning additional foreign exchange through the development of the niche product and thereby contributing to economic growth. For instance, in June 2021, in Scotland, a new Golf Tourism and Visitor Strategy were developed, with a focus on destination development, community engagement, education, and health as the industry attempts to recover from the challenges of the COVID-19 pandemic. Hence, the rising government initiatives to support golf tourism will drive the growth of the golf tourism market.
Competitive Landscape:
Major companies operating in the golf tourism market report are Fairway Escapes, Goway Travel, Golfbreaks Ltd, Greenscape Holidays, Par Excellence Getaways, Carr Golf, Premier Golf Tours, Kalos Golf, Celtic Golf, Golfasian Co. Ltd, Direct Golf Holidays, SouthAmerica.travel, Ascot Golf Tours, Chaka Travel, TeeTime Travels, Eagle's View Golf Tours, Golf Tours International, GHW Golf Tours, Perry Travel Inc, Scottish Golf Holidays Inc, The Haversham and Baker Co, GolfHolidays.com, Sophisticated Golfer, Caribbean Golf & Tours, Classic Golf Tours, Golf Plaisir, EasyGolf Worldwide Australia, Asian Tour, Links & Leisure Tours, Birdie Bound Adventures, Driveway Golf Tours, Mulligan Travels, Stroke Savvy Tours
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Top Trend - Elevating Golf Tourism Through Optimized Scheduling And Resource Allocation
Major companies operating in the golf tourism market are increasing their focus on developing solutions, such as the inventory management system, to gain a competitive edge in the market. An inventory management system (IMS) is a software application that helps businesses track and manage their inventory levels, orders, and sales. For instance, in April 2022, Agra Golf Course, an India-based provider of golf courses, launched a Tee-Time inventory management system to augment luxury gold tourism. The system provides the course with better data on tee time usage, allowing them to optimize scheduling and resource allocation. This can lead to reduced wait times and a more enjoyable experience for everyone.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Golf Tourism Market Characteristics
3. Golf Tourism Market Trends And Strategies
4. Golf Tourism Market - Macro Economic Scenario
5. Golf Tourism Market Size And Growth
…..
27. Golf Tourism Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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